MetaSource Mortgage Blog

Notice of a New 2017 Annual Report Requirement for the MERS® System

Monday, March 06, 2017

Recently MERS sent an email to all General Members that are listed as the Servicer on 1,000 or more active MINs. This email notification was sent to inform these companies that beginning with the 2017 MERS® Annual Report, MERSCORP Holdings, Inc. will require that all Third Party Reviewers provide their electronic signature on the eAnnual Report.

The practice of utilizing Engagement letters in lieu of sign off will no longer be permitted. The notice even suggested that if their current Third Party Reviewer indicates that they will not sign off on the eAnnual Report, the organization should obtain a new Third Party Reviewer. That is THE definition of putting your foot down.

As you can imagine, this prompted more than a few concerned phone calls from current clients and several inquiries from potential future customers. So, let us put your mind at ease…

MetaSource does provide our electronic signature on all eAnnualReports. MetaSource has ALWAYS had this practice.

MetaSource’s services are built on a thorough audit of the General Member’s internal MERS® policies and procedures as detailed within and compliance standards dictated by the MERS® QA plan, MERS® Policy and Procedures handbook, MERS member rules and the MERS® Annual Report. This includes finalization and execution of the Annual Report with electronic signature. We pride ourselves on our consultative approach. And not just at year end, but throughout the year as needs arise. The strength of MetaSource’s offering lies in its two basic services to the MERS member; mintrak2® as the data integrity software and the completion of the MERS Annual Report Audit as a Third Party Review organization.

Contact us to learn more about MERS QA Audits today

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