Appraisal Ordering (Cotality)

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Beta

Appraisal ordering through Cotality is in beta. You connect it with your own Cotality credentials.

Cotality's Mercury Network connects lenders to appraisal management companies (AMCs) and their appraisers. With this integration you order an appraisal from the loan file, follow it to delivery, and receive the report on the file, without logging in to Mercury.

Setting it up

1. Hold your own Cotality account. Cotality issues your credentials and account identifiers.
2. In Platform Settings → Integration Hub, open the Cotality Appraisal (Mercury Network) card, click Configure, enter your credentials and choose your ordering defaults: product, payment method and, if your account lets you choose, the default AMC. Match your property types to Cotality's, then click Connect, which checks the credentials live.
3. Choose which Cotality updates also add a note to the loan's Note History.
4. Grant the switches. On each user's profile, under Special Reports or Features: Order and manage appraisals, and separately Request a reconsideration of value. Only a Manager or Super Admin can change them.

Ordering and tracking

On the loan file's Integration Hub tab, click Order Appraisal. Pick the properties (one order each), the product, payment method, due date and rush where offered, and any special instructions. You can attach up to 10 of the loan's PDFs.

Each order shows the status Cotality last sent, updated automatically. View details shows its progress, messages, documents and history. Once Cotality accepts an order you can cancel it, send a change note, attach documents, exchange comments, put it on hold or resume it, and ask Cotality to send the appraisal to the borrower.

After delivery you can Request Reconsideration of Value, with one PDF of comparable sales, or Request Correction. A revised report is kept beside the first.

What comes back

The report and its documents are filed in the loan's documents under Property Valuation. The order shows the appraised value, condition and form type read from the report.

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Some things can't change after ordering

The due date, rush, product and AMC can't be changed through the integration. Send a change note, or cancel and reorder.

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Quiet orders are flagged

Cotality doesn't re-send a lost update, so an open order that has gone quiet is flagged with the reason and a request you can copy to Cotality support.

For a quick modelled value before you order, see AVM Ordering. For how integrations fit together, see Integrations Overview.

Full detail: in LendingWise, open Loan Origination → User Guide → Integrations Overview.