In this update, you’ll see a couple of small changes that are part of Mercury Network’s upcoming ability to archive orders that have become inactive. Read on to find out why archiving orders (which might not sound like a big deal) is actually a step on the path to several compelling new features. There are other improvements in this release, so you can check for details about those in the release notes.
Workflow-boosting features on the way
Soon, Mercury Network will have the ability to archive historical orders. Here’s why that’s exciting: By archiving older orders and storing them in a separate database, we’ll be able to streamline the platform’s operations and optimize performance. This paves the way for several upcoming features that will enable Mercury Network to power more of your origination workflow within a single, efficient platform. We’re working hard on these initiatives and look forward to telling you more!
What is archiving all about?
To give just a bit of info about how archiving will work: An order will be archived when there’s been no activity (status changes, documents attached, borrower viewed the appraisal online, etc.) for 18 months. After that, the order can be found in the Archived database using the same search tools you use today. If you open the order, it will be removed from the archive until midnight. If any changes are made to the order, it will be active for another 18 months.
You'll still have unlimited storage of historical orders at no extra cost, as you always have. And, you’ll be able to access all archived orders as easily as you would active orders.
What’s changing today?
This update includes a few minor changes in preparation for the archiving capabilities: When searching for orders, the date ranges in the Placed drop-down menu have changed. Lenders will see two new options: All Active and Archived. Vendors and VMP XSite client users will see a new 60 days range. Everyone will see that the All item has changed to All Active.
Right now, searching for archived orders won’t return any results because orders are not yet being archived. But, after orders have been archived, you'll be able to search those orders by selecting the Archived item in this drop-down menu.
We’re putting the finishing touches on the full set of archiving features now, so watch for announcements, documentation, and walkthroughs to stay in the loop.