AMC Axios Integrates Appraisal System to Cut Processing Time
Axios Valuation Solutions, an appraisal management company (AMC) located in Fort Worth, TX, has now fully integrated their appraisal management operations with a software program by Mercury Network called Vendor Management Platform (VMP). VMP provides bi-directional status updates between the program and Axios that structures a request for an appraisal by the standards of the AMC. It will assist lenders and appraisers with compliance with the Federal Housing Administration (FHA), the Gramm-Leach-Bliley Act (GLB), Fed interagency rules and pending Federal legislation, quality assurance, appraisal data security, cost and flexibility. Mercury Network's parent company a la mode, inc., a real estate software and web solutions company, said the intention of VMP is to cut appraisal processing time by eliminating the leg work between sending reports, figuring out what's missing in the reports and then having them rejected due to missing, incorrect or unclear data. The program requires that all elements of an appraisal request or appraisal report be complete before it will send it. VMP provides lenders with a 100% nationwide network of appraisers, "every county of every state" a la mode told HousingWire. Axios follows a number of lending firms such as PCLender.com, that has used the VMP networking system since 2009. Write to Christine Ricciardi.