MetaSource Mortgage Blog

emortgage QC Audit Implications

Tuesday, June 07, 2016

emortgage Offering QC Audit Implications | MetaSource

Thanks to Quicken Loan's relentless advertising, including a Super Bowl ad, everyone seems to have heard of the "emortgage" and demand is rising as a result.

Ironically, the emortgage has been around for 15 years but has been slow to be adopted in this paper-intensive industry. However, just as how Microsoft's promotion of "The Cloud" in TV ads dramatically increased usage of the term and demand for this type of software, after many years of being referred to as software as a service (SaaS), the repeated promotion of the emortgage appears to have increased demand.

Is your organization ready to offer emortgages as well as to handle both pre-fund and post-close quality control (QC) requirements?

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4506-T Income Verification Form Update: Important

Monday, May 09, 2016

4506-T Income Verification Form Update: Important

There is a new requirement on the 4506-T Request for Transcript of Tax Return: the new form now includes a checkbox in the signature section that must be completed to generate a tax transcript.

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Important TRID Update: Rules Revisit Coming

Sunday, May 01, 2016

CFPB Logo

On Thursday, April 28, the Consumer Financial Protection Bureau (CFPB) issued a letter to mortgage industry trade groups regarding TRID compliance and the "Know Before You Owe" rule as a result of feedback received before and during the recent 2016 Mortgage Bankers Association (MBA) conference.

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HousingWire Names MetaSource to the Tech100

Thursday, March 31, 2016

HousingWire Names MetaSource to the Tech100

The 2016 Tech100 Recognizes MetaSource's QLink Software

Housingwire Magazine covers issues in mortgage finance and real estate, including the technology critical for companies in the housing economy. For the third year in a row, Housingwire has recognized the most innovative technology companies in the industry as part of the HW Tech100.

MetaSource has made the Tech100 for 2016 in recognition of our QLink mortgage QC software in the "Lending, Servicing" category.

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Titan Lenders Corp. Joins MetaSource

Monday, March 21, 2016

MERS® QA, Trade & Servicing Transaction Management Expert Adds Depth to MetaSource's Portfolio of Mortgage QC Solutions

Titan Lenders Corp Joins MetaSource Mortgage

Salt Lake City, Utah – MetaSource, the leading provider of mortgage quality control (QC) compliance advisory and workflow automation solutions, today announces the acquisition of Denver-based Titan Lenders Corp. This acquisition further strengthens the MetaSource mortgage portfolio of services, specifically by adding depth to its existing MERS and whole loan purchase review audit team and expanding into trade and servicing transaction management services.

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MetaSource at the Regional Conference of Mortgage Bankers Association

Tuesday, March 08, 2016

The 33rd Annual Regional Conference of MBA

MetaSource will once again be at the Annual Regional Conference of Mortgage Bankers Association at Harrah's Waterfront Conference Center in Atlantic City, NJ from March 13-17. Stop by booth #704 to see how MetaSource can ensure the accuracy, completeness and compliance of loans, so you can concentrate on the core of your business.

  • Quicker Boarding and Loan Transfers with immediate document deficiency identification and reporting 
  • More Accurate Doc Typing, Indexing and Data Extraction using a combination of technology, process and people 
  • Enterprise Content Management software and workflow solutions for mortgage with LoanStor, powered by EMC and with 3,000 installations, both premise and cloud based 
  • Reduced Manual Tasks through integration with leading mortgage servicing platform 
  • Increased Compliance through our Mortgage Compliance Advisors solutions, which provides servicing, post-close, pre-fund audits and more

Can't Make the Show?

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New Whitepaper: Pre-Fund Mortgage QC Best Practices

Monday, March 07, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

By now, everyone in the mortgage industry knows about the 10% random, post-close quality control (QC) audit requirements of Fannie Mae, Freddie Mac and the FHA/HUD. See our whitepaper here to learn about post-close audit QC best practices.

However, many mortgage lenders are not familiar with pre-funding QC, which increases the chances of non-compliance penalties being levied upon your organization.

This whitepaper answers the following questions:

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Mortgage Audit Top 20 Defects and Findings in 2015

Wednesday, March 02, 2016

Mortagage Audit Top 20 Defects and Findings in 2015

Having performed tens of thousands of mortgage compliance audits through the years, we get asked about the most common problems in the pre-fund, post-close, servicing, and MERS audits we perform.

With 2015 firmly in the books, the jury is in: here are the Top 20 defects for moderate and significant findings that we identified as part of the tens of thousands of mortgage compliance audits we performed last year.

Drum roll, please...

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Mortgage QC Case Study: Academy Mortgage

Wednesday, March 02, 2016

MetaSource has served Academy Mortgage Corp. with mortgage file quality control (QC) and audit services for the past four years. In addition to helping Academy is in compliance with mortgage QC regulations from Fannie Mae, Freddie Mac and FHA, MetaSource does it all for half of what it would take Academy to do it in-house.

Background

Founded in 1988, Academy Mortgage is one of the nation's largest and most respected independent mortgage lenders. Unlike banks and mortgage lenders that consolidate operations and service offsite, Academy has the distinct advantage of being a direct lender. This means that Academy Mortgage performs all loan processing, underwriting, closings, and funding at 200 local branch offices located all over the country.

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New Whitepaper: Post-Close Mortgage QC Best Practices

Tuesday, February 16, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

Randomly auditing 10% of your mortgages on a post-close basis is required by Fannie Mae, Freddie Mac and the FHA/HUD. If this is news to you, you need to contact us immediately...

What is news to many lenders is how implementing document-related best practices reduce post-close quality control (QC) findings, minimize non-compliance fines, slash operating costs, and can even lead to a competitive advantage in mortgage origination.

This whitepaper answers the following questions:

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