Mercury Network, a software platform that allows lenders and appraisal management companies to manage their collateral valuation workflow, announced that American Southwest Mortgage Co. began using Mercury Network’s suite of offerings.
According to Mercury Network, American Southwest Mortgage Co., an Oklahoma-based mortgage lender, recently implemented Mercury Network’s Enterprise Vendor Framework to help manage compliant, high-quality appraisal operations.
With Mercury Network’s EVF platform, American Southwest effectively manages thousands of compliant appraisal orders across all their valuable AMC vendor partners, Mercury Network said in a release.
American Southwest has standardized on other Mercury technology such as SureReceipts and Appraisal Quality Management, which further strengthens their compliance with other relevant appraisal regulations, including the ECOA Valuation Rule, Appraiser Independence Requirements and the GLB Act, as well as all investor requirements for quality control.
“To accommodate our fast growth in this regulatory environment and in anticipation of TRID, we knew it was more critical than ever before to document and control all aspects of our appraisal operation”, said Laura Thomas, vice president of corporate production at American Southwest. “Mercury Network gives us the ability to manage all channels quickly and effectively, including proactive status updates to all stakeholders as well as thorough quality control on completed reports.”
Jennifer Miller, president of Mercury Network, said that the company is excited to welcome American Southwest to its client base.
“Their commitment to their customers and their vendor relationships is apparent, and they have the technology infrastructure to continue phenomenal growth,” Miller said of American Southwest.