Tornado-impacted property reports: Mercury Network waives its fees for impacted areas

In response to recent tornadoes, Mercury Network will waive transaction fees for disaster reports in all impacted areas for ninety days. Mercury Network is a cloud-based vendor management software platform, used by over 600 mortgage lenders and appraisal management companies to power 20,000 appraisal orders a day.

A website, www.mercuryvmp.com/relief, has details on how to place orders for property status reports from over 350 appraisers who are local experts in the 21 counties so far reporting damage. The reports, called "Catastrophic Disaster Area Inspection Report", or "CDAIR", can minimize disruption to the local real estate economies by allowing lenders to proceed on closings for unaffected properties and get fast assessments of damaged properties.

John Farley, president of a la mode's Appraisal Division, gave advice to lenders and appraisers as to how to proceed: "The CDAIR is a triage tool so lenders can get a fast status check on properties in an impacted area. In a disaster, we know appraisers are working under abnormal conditions, so turn times for traditional appraisals with the full URAR scope of work will stretch to several weeks or months. The CDAIR lets a qualified appraiser deliver an initial 'boots on the ground' assessment of the damage. Full appraisal or engineering reports should be ordered after reviewing the CDAIR's conclusions."

Jennifer Miller, president of a la mode's Mortgage Solutions Division added, "Our operations center is in Oklahoma City, so we know the destruction tornadoes bring. If you or your family has been directly affected, reach out to relief@alamode.com. We're happy to help impacted real estate appraisers, agents, mortgage pros, and other industry colleagues. We can provide supplies, direct financial relief, software, and more."

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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 Vender 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 licenses 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.

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

Press inquiries, contact:

Molly Dowdy

EVP, Marketing, Mortgage Solutions Division

a la mode, inc.

(405)359-6587 x 339