MetaSource Mortgage Blog

Top 8 MERS QA Findings

Tuesday, September 19, 2017

MERS QA: Top 10 Findings for 2017 | MetaSource Mortgage

In the spring of 2011, the Office of the Comptroller of the Currency issued consent orders outlining a quality assurance mission for MERSCORP Holdings, Inc. and the nation's largest servicers. The mission was designed to ensure the data accuracy within the MERS® System could effectively support its role in securitization.

As a result, MERS consolidated the Consent Order to reflect new Member requirements. Today, MERS requires an annual scope of review for MERS General Members. It encompasses a review of the 6 conditions listed on the MERS Annual Report. The core objectives of the 6 conditions listed are answering how a Member supports MERS data integrity requirements and operational procedures.

MetaSource performs MERS Annual Report reviews as the Third Party. We perform a thorough review of a Member's data integrity and operational policies and procedures for the production and execution of a MERS Annual Report. Now with more than half of 2017 in the books and servicers are eyeing that end of year deadline for the MERS Annual Report, here's a look back on the top 8 MERS quality assurance (QA) issues based on our client work over the last six years:

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Join MetaSource at the NCSHA 2017 Annual Conference

Monday, September 18, 2017

Join MetaSource at the NCSHA 2017 Annual Conference

This year, MetaSource will be returning to the NCSHA's Annual Conference & Showplace, hosted by the National Council of State Housing Agencies. This event, the main networking event of the year for Housing Finance Agencies, takes place October 14-17 in Denver.

Visit us at Booth #113 to see how MetaSource eliminates mortgage quality control headaches for HFAs with our whole loan purchase review service.

Make sure you join us for the MetaSource Networking Reception at 7pm on Monday, 10/16, at Hyatt Regency Denver's PEAKS Lounge. RVSP HERE TODAY!

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