MetaSource Mortgage Blog

What If Your Mortgage QC Turn Time Was 35 Days?

Tuesday, July 25, 2017

What If Your Mortgage QC Turn Time Was 35 Days?

"Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you." – Carl Sandburg

We hear about mortgage file quality control (QC) turn times of 60-90 days from other QC outsourcing providers. Why does it take so long? It's usually because they're having trouble keeping up with volume, but it could be any number of reasons.

Long turn times put you in an uncomfortable position of being out of compliance with the agencies. If your vendor post closed review is at 60+ days, you have ZERO flexibility in any internal process and procedures. We've even seen many lenders recently receiving added scrutiny from HUD, as well as investors, due to unacceptable vendor time frames. 

What if your mortgage QC turn time was 35 days? What would you do with the extra time and lack of stress?

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Servicing Management Features Cover Story from MetaSource Mortgage

Friday, July 14, 2017

Servicing Management Features Cover Story from MetaSource Mortgage

The June issue of Servicing Management features the article Best Practices for Mortgage Boarding, Workflow Automation and Document Management written by Ruth Lee, our Sr. Director of Mortgage Services. Below is an excerpt of the article. Let us know if we can help you with any of the topics discussed.

Article Excerpt

A best practice is a process generally accepted as achieving superior results to alternatives. The key to that sentence is "results," which are subjective depending on your goals. Because the scope of the data and documents relied upon by servicers has blossomed in the last decade into a manually improbable challenge and the margin for error is thin, those goals today are primarily focused on proving compliance. However, business is business, and best practices have to meet the practicality test when weighed against many factors, to include sustainability and cost-effectiveness.

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