Lender Processing Services’ LSI Division chooses Mercury Network for appraisal management with Native XML data

OKLAHOMA CITY, Okla. – a la mode announced today that LSI, a division of Lender Processing Services (LPS) has chosen to connect its appraisal ordering and management services with Mercury Network to receive the native XML appraisal data necessary for error-free Uniform Mortgage Data Program (UMDP) compliance.

The two companies have developed a custom plug-in that connects LSI with Mercury Network’s vast real estate appraiser panel, which has 100 percent nationwide coverage.  The plug-in will run an extensive set of LSI quality control rules against the appraisal report prior to delivery and will create the completed appraisal report in both PDF and native MISMO 2.6 XML formats.  Unlike PDF extractions, LSI clients will receive the native XML straight from the appraisers’ desktops to promote error-free submission to the GSEs, per their UMDP mandate.

“We welcome LSI to Mercury Network.  LSI is a widely respected collateral valuation leader, and the plug-in with Mercury Network arms their clients with the most streamlined compliance of the GSEs’ UMDP initiative.  It’s yet another example of LSI looking out for their customers,” said Jennifer Miller, EVP of Products for a la mode’s Mortgage Solutions division.

“This technology is a part of our continued commitment to work with industry leaders, such as a la mode, to develop and deploy meaningful solutions that further promote efficiency and accuracy within the industry.” said Mark Johnson, Valuations Executive for LSI.

Mercury Network is the premiere online Vendor Management Platform (VMP), allowing lenders and appraisal management companies (AMCs) to manage their entire appraisal workflow.  Mercury Network has been used by more than 200,000 mortgage professionals since 2002 to completely automate the full “round trip” of tens of millions of appraisals.  a la mode and Mercury Network are in a unique position to offer the pre-delivery, customizable quality assurance checks and native XML needed by the GSEs because a la mode’s WinTOTAL is the leading appraisal desktop form-filling software used by more than half of the nation’s appraisers.  For more information, visit http://www.MercuryVMP.com.

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About a la mode
Celebrating 25 years as a technology leader, a la mode develops desktop, mobile and web tools for the real estate and mortgage industries.  a la mode’s mission-critical products are used by hundreds of thousands of appraisers, agents, inspectors and lending professionals to complete the nation’s real estate transactions.  a la mode’s state-of-the-art offices are located in Salt Lake City, Utah; Oklahoma City, Okla.; and Washington D.C.  For more information, visit http://www.alamode.com.

About LSI
LSI is a division of Lender Processing Services, Inc. (NYSE: LPS), the nation’s leading provider of integrated data, servicing and technology solutions to mortgage lenders.  LSI is the largest centralized provider of appraisal, title and closing services to first mortgage and home equity lenders, as well as to mortgage servicers and investors.  LSI performs property valuations and settlement services in all 50 states, plus the District of Columbia, from four geographic locations: Pittsburgh, Penn.; Sacramento, Calif.; Santa Ana, Calif.  and Dallas, Texas.

LSI has relationships with the nation’s top 25 mortgage lenders.  Because of its national reputation and proven business experience, LSI has strategic alliances with many of the mortgage banking industry’s key players, including Fannie Mae and Freddie Mac.  In addition, LSI is a member of the Mortgage Bankers Association of America, among many others.  For more information about LSI, please visit http://www.lsi-lps.com.

About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology, services and mortgage performance data and analytics, to the mortgage and real estate industries.  LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop®), portfolio retention and default, augmented by the company’s award-winning customer support and professional services.  Approximately 50 percent of all U.S.  mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries.  For more information about LPS, visit http://www.lpsvcs.com.

All product and company names herein may be trademarks of their registered owners.

Press inquiries, contact:
Molly Dowdy
EVP, Marketing
Mortgage Solutions Division
a la mode, inc.
(405) 359-6587 x339