WR Starkey Mortgage chooses a la mode's Mercury Network to ensure branch compliance with appraisal regulations and speed closings
WR Starkey chooses Mercury Network for appraisal management.
- (1888PressRelease) March 24, 2011 - Oklahoma City, OK - a la mode announced today that WR Starkey Mortgage has chosen the Mercury Network Vendor Management Platform (VMP) for their appraisal management operations.
Mercury Network offers WR Starkey critical compliance safeguards for their forty three branches' appraisal management operations, specifically the double-blind appraisal ordering mode. Branch processors can place appraisal orders from within their Calyx Point loan origination software. The orders go through Mercury Network to the same appraisers WR Starkey has always worked with, but without the branch loan officer having knowledge of the identity of the appraiser, or having untraceable communications that may put compliance at risk.
"Our branches are now empowered to order and manage their pipelines with local, expert appraisers. It's an important benefit that cuts our overhead and keeps our loans on track to timely closings," stated Jim Clapp, President at WR Starkey. "We have control over appraisal quality by setting up our own panel of appraisers, creating fee panels by branch, and preferring appraisers closer to the subject property. With Mercury, we're avoiding the situations other mortgage lenders are in where appraisals are over-priced, too slow, or performed by an appraiser with no experience in the area".
Mercury Network also provides WR Starkey with full audit trails for every appraisal transaction. "The documentation is an integral part of our compliance strategy", stated Brett Foster, Chief Compliance Officer at WR Starkey. "It's peace of mind that automatically accompanies every appraisal."
"We're thrilled to welcome WR Starkey as a Mercury Network customer," said Jennifer Miller, EVP of Products for a la mode's Mortgage Solutions Division. "Their reputation for excellent service to borrowers is remarkable."
Mercury Network is the premiere online appraisal Vendor Management Platform, or VMP, allowing lenders and AMCs to manage their appraisal workflow. It's used by a lengthy roster of the nation's largest lenders and appraisal management companies, and more than 10,000 appraisal transactions per day flow through its servers.
For more information on Mercury Network appraisal vendor management platform, visit www.MercuryVMP.com.
For more information on WR Starkey Mortgage, visit www.wrstarkey.com.
About WR Starkey
Headquartered in Plano, Texas, WR Starkey Mortgage, LLP operates forty three branches throughout Texas, Colorado, North Carolina, South Carolina, Kentucky, Tennessee, Georgia, Alabama and Oklahoma. Today, WR Starkey Mortgage continues to set the standard for mortgage lending in each market that it maintains a presence.
About a la mode
Celebrating 25 years as a dominant leader in the real estate and mortgage industries, a la mode develops mission-critical desktop, mobile, and Web tools used by hundreds of thousands of appraisers, agents, inspectors, and lending professionals to power tens of millions of transactions each year. a la mode's state-of-the-art offices are located in Salt Lake City, Oklahoma City, and Washington, DC. For more information, visit www.alamode.com.
All product and company names herein may be trademarks of their registered owners.
Contact:
Molly Dowdy
EVP, Marketing
Mortgage Solutions Division, a la mode, inc.
(405) 359-6587 x 339
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