Platinum Data Solutions announced it is integrating its RealView appraisal quality tool into the a la mode Mercury Network Appraisal Quality Management system.
RealView uses business intelligence to analyze and validate appraisal data in context with neighborhood information gathered from a database created from public and private sources.
As a result, the lenders and appraisal management companies that use Mercury Network, as well as the thousands of lenders and AMCs receiving appraisals via Mercury’s DataCourier service, will have integrated access to Platinum Data’s RealView from directly within their core appraisal management platform.
“This integration gives Mercury Network’s users more options to keep pace with the new quality control requirements,” said Phil Huff, CEO of Platinum Data. “Smart lenders know that if GSEs are using their technology to QC appraisals, they had better follow suit. Mercury Network users will have fast, easy access to a lender-focused version of the type of technology that GSEs have created for their own use.”
The move will help users stay ahead of the looming implementation of Fannie Mae's Collateral Underwriter, for example. Some feel this could lead to slower and costlier home sale closings and more disputes over prices between sellers and buyers. Other favor the development, believing it is just getting back to basics.
While today's announcement is not directly tied to Collateral Underwriter, the president of Mercury Network added they will continue to adapt to any and all market challenges.
“Each organization has their own quality assurance benchmarks, and their own workflow and automation needs. We’ll continue to integrate the tools they request, so that Mercury Network is their centralized appraisal management software solution,” said Jennifer Miller, president of Mercury Network.
