Mercury Network

Mercury Network is a valuation technology and appraisal management platform designed for the mortgage lending industry. The company provides a suite of appraisal vendor management and collateral quality control solutions through its cloud-based software. Its primary clients include mortgage lenders, community banks, credit unions, and appraisal management companies (AMCs), with a focus on small to medium-sized operations. The platform streamlines collateral valuation operations by allowing users to manage appraisal orders, vendors, regulatory compliance, and workflow automation.

The company was conceived and developed within a la mode, inc., a technology provider for the real estate and mortgage industries founded by Dave Biggers. In May 2015, Serent Capital, a private equity firm, acquired Mercury Network from a la mode. Under Serent's ownership, Mercury Network expanded by acquiring Platinum Data Solutions in 2016 and announcing plans to acquire Appraisal Scope. This growth trajectory culminated in a complete acquisition by CoreLogic (NYSE: CLGX), a major global property information and analytics provider, which was finalized in August 2017. The acquisition was part of CoreLogic's strategy to expand its valuation solutions capabilities, complementing its existing FNC platform to serve a broader segment of the lending market.

The platform's business model is based on its Software-as-a-Service (SaaS) offering. It enables lenders and AMCs to connect with and manage their own panels of residential or commercial appraisers, as well as order from over 300 integrated AMCs. Key features include tools for quality assurance, compliant appraisal delivery, and a mobile application, Mercury Mobile, to accelerate communication and response times with vendors. The system integrates with major Loan Origination Systems (LOS) and other industry portals, facilitating a seamless flow of data and documents. For appraisers, the platform offers a free profile to connect with clients, manage orders from a single dashboard, and reduce administrative tasks.

Keywords: appraisal management, vendor management platform, mortgage technology, collateral valuation, real estate appraisal, CoreLogic, lending compliance, SaaS, property valuation, quality control, appraisal management company, AMC, loan origination, FinTech, real estate technology, valuation workflow, vendor management software, collateral risk, mortgage lending, appraisal ordering