MortgageReal Estate

Mercury Network acquiring Appraisal Scope

Deal combines two valuation management software platforms

Last year, Mercury Network, an appraisal management system, announced plans to expand by acquiring Platinum Data Solutions, a QC technology company.

And it turns out that the company is not done growing.

Mercury Network, a winner of HousingWire Magazines 2017 HW Tech100, announced this week that it is acquiring Appraisal Scope, a provider of valuation management software.

According to a release from Mercury Network, the acquisition combines “two of the leading software platforms” for valuation management for lenders and Appraisal Management Companies.

Jennifer Miller, president of Mercury Network, said that both Mercury Network and Appraisal Scope will continue to be offered and operate independently. Miller added that the companies will “integrate the infrastructure and support for all products to best serve the combined customer base.”

Will Clemens, CEO of Mercury Network, said that the deal makes sense for all sides.

“The nation’s growing housing economy depends on efficient, accurate valuation operations,” Clemens said. “The acquisition of Appraisal Scope, and our expanded investments in R&D, will give all those in the mortgage lending industry, regardless of size, easy access to the most innovative collateral valuation tools from a single provider.” 

And Jordan Rothstein, founder of Appraisal Scope, said that the deal will allow the company to continue growing.

“We feel great alignment with Mercury’s culture and mission,” Rothstein said. “The combination of the two companies will allow Appraisal Scope customers to benefit from Mercury’s greater scale and infrastructure. We will thrive and continue to grow and innovate as part of Mercury.”

Financial terms of the acquisition were not disclosed.

Most Popular Articles

FHA, VA join Fannie, Freddie in relaxing some standards

With the coronavirus continuing to reshape the face of the country and the economy, the biggest players in the mortgage business are moving to try to make it easier to lend. Last week, it was Fannie and Freddie. Now, it’s the FHA and VA’s turn.

Mar 30, 2020 By

Latest Articles

AIME’s Anthony Casa on the mortgage industry’s most pressing topics

HousingWire CEO Clayton Collins sat down with Association of Independent Mortgage Experts Chairman Anthony Casa to discuss some of the most pressing issues pertaining to the housing industry as the coronavirus that causes COVID-19 continues to create uncertainty within the market. HW+ Premium Content

Apr 03, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please