Mercury Network’s SureReceipts now available to any lender for automated compliance with new disclosure requirements
Written by a la mode on March 3, 2014
Naples, FL – a la mode's Mercury Network today announced the expansion of their SureReceipts™ service to a universally available eDisclosure compliance solution. SureReceipts securely sends any document to borrowers in compliance with disclosure requirements, and it automatically produces an audit trail on every send for compliance verification. SureReceipts can be deployed quickly by lenders of all sizes, and is now available as a stand-alone web-based service or as an API for integration in existing workflow systems.
As lenders are learning, some the hard way, providing electronic copies of some documents is not simply a matter of e-mailing them to borrowers, or even blasting out links to download the documents. New ECOA requirements mandate certain specific disclosures and demonstrations by the borrower of their ability to receive electronic documents, before they download anything.
"We've heard from many lenders recently who could be in violation of the new ECOA Valuations Rule because they aren't gathering the required borrower acknowledgements prior to electronic delivery of the appraisal, as required by ECOA's E-Sign provisions", stated Jennifer Miller, president of a la mode's Mortgage Solutions Division. "SureReceipts has long been integrated in Mercury Network, so lenders using Mercury as a vendor management platform have always had it. But opening it to any lender was a simple solution to a widespread compliance challenge, and keeping SureReceipts less expensive than the cost of postage and mailing was a no-brainer."
Lenders using SureReceipts to automate compliance with disclosure requirements will be leveraging the secure SureDocs custodial technology to deliver compliant eDisclosures. They will also eliminate error-prone manual processes, while dramatically decreasing their risk of costly penalties.
SureReceipts is available to any lender or AMC now for only 50¢ per secure send, or via API for seamless workflow integration. Visit http://www.mercuryvmp.com/SureReceipts for more information.
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About a la mode Celebrating 28 years as a mission-critical workflow technology leader in the real estate and mortgage industries, a la mode's products are used by hundreds of thousands of appraisers, salespeople, inspectors, and lending professionals to power more than 50% of all residential real estate transactions in the US each year. a la mode's flagship product for the lending industry is its Mercury Network, the nation's premiere valuation Vendor Management Platform with over 20,000 transactions a day. In the appraisal sector, its TOTAL desktop software line is dominant, used by more appraisers than all other brands combined. And in the agent market, a la mode's Broker Reciprocity and Analytics products enjoy top-tier direct access to MLS listings and sales data via integration contracts with local boards serving more than 500,000 licensed salespeople nationwide.
a la mode is headquartered in Naples, FL, with additional offices and approximately 200 employees located in Oklahoma City, Salt Lake City, and Washington, DC. For more information about the company, visit www.alamode.com.