Wipro Limited and Mercury Network, now a part of CoreLogic, today announced an agreement to jointly offer loan appraisal management solution systems to customers in the financial services space. These include banks, mortgage/lending companies, credit unions, underwriting and appraisal management companies. As part of the agreement, Mercury Network, one of the industry’s largest loan appraisal order management platforms, will be integrated with Wipro’s NetOxygen Loan Origination System (LOS) platform.
Leveraging Mercury Network’s powerful valuation management software and platform, Wipro’s NetOxygen LOS customers will now be able to better manage their loan appraisal management. They will also be able to automatically order the loan appraisal and receive regular status updates on the order, inside their loan folder. This platform eliminates duplicate data entry, and dramatically accelerates the loan appraisal process while reducing administrative burdens.
As a result of the integrated offering, residential and commercial loan appraisals management can be managed and ordered from over 300 integrated appraisal management companies and over 35,000 independent appraisers in the United States.
“Our goal is to enhance lender efficiency, with increased agility, productivity and accuracy,” said Scott Dunn, Head of Product Management and Compliance, Wipro Gallagher Solutions. “Mercury Network is a leading platform with innovative tools that will save our customers’ time on every loan.”
Prior to this integration, many NetOxygen customers were managing appraisals from Mercury Network’s web interface, without automatic data integration. The integration will automatically synchronize important loan appraisal management order data, enhancing the accuracy of data and reducing manual effort and the risks of human error by the lender’s operations team.
“The most efficient loan appraisal management process for lenders includes a fully integrated loan file. So, we’re proud to work with NetOxygen to provide easier and faster appraisal management solutions to their broad customer base,” said Devi Mateti, Executive, CoreLogic Valuation Technologies.