MetaSource Mortgage Blog

Mortgage QC Audit Self-Revisions Now Available with QLink

Monday, September 14, 2015

QLink Software | MCA | MetaSource

Take Control of the QC Revision Process

Mortgage QC Audit Software Self-Revision Lenders are solely responsible for the work of their quality control vendors, so why not have control to update your QC partner's work in accordance with what is best for your company?

Submitting revisions to your mortgage audit quality control findings can be tedious and frustrating on a good day, especially considering the delay between submission and the update of your defect rates and metrics. Mortgage Compliance Advisors (MCA), from MetaSource, feels your pain and has the solution you've been looking for with the new Self-Revision capability of QLink.

  text

A Secure Compliance Partner Is Essential

Monday, August 10, 2015

A Secure Compliance Partner Is Essential

With all the cyber-attacks and security breaches in companies, in the US government, even in cars, security should be the top priority for all companies and their mortgage quality control compliance partners.

In today's world it is not enough to just depend on SFTP for secure mortgage document submissions. The only defense you have from a security breach is your password… which we hope isn't "password."

  text

How to Ensure Mortgage QC Plan Compliance

Monday, August 03, 2015

Quality Control Plan

Government agencies and investors require that you to have an updated mortgage quality control (QC) plan. What's the state of your plan?

If you don't have one, aren't sure if it meets the necessary requirements (which now change several times each year) or if your QC plan has not been updated in the past 12 months, then read on.

  text

New MERS Penalties for Mortgage Registration & Transfers

Tuesday, July 14, 2015

Mortgage Electronic Registration System (MERS) Logo

While many mortgage loan originators are focused on upcoming TRID rules that go into effect in October 2015, many are unaware of important changes to the Mortgage Electronic Registration System (MERS) rules of membership that include penalties for not adhering to their mortgage registration and transfer requirements.

  text

New Whitepaper: Introducing the New FHA Handbook (4000.1)

Thursday, July 09, 2015

Which New FHA Rules Have the Greatest Impact on Mortgage Lenders

FHA logo

Update: The new handbook was initially announced to go into effect on June 15, 2015. Perhaps because everyone in the mortgage industry is focused on the upcoming TRID changes, FHA announced that it has extended the effective date for the policies contained in the new handbook to September 14, 2015.

  text

Ginnie Mae Issuer Operational Performance Profile (IOPP)

Tuesday, May 19, 2015

Ginnie Mae IOPP

Ginnie Mae has now launched the new Issuer Operational Performance Profile (IOPP) tool. The new tool provides issuers with a framework and methodology that can be used to gauge their effectiveness against Ginnie Mae's expectations for for Issuer performance. The IOPP "scorecard" will provide a method to measure an Issuer's operational performance against peers.

  text

What You Need to Know about TILA-RESPA Integrated Disclosure (TRID) Rules

Monday, May 11, 2015

CFPB Logo

New TILA-RESPA integrated disclosure rules (TRID) are tricky to condense because the rule runs almost 2,000 pages. However, that is why you turn to MCA. In this blog post, we will explain what TRID replaces in a loan file and what you should do about it.

Loan Types Affected

TRID is pursuant to the Dodd–Frank Wall Street Reform and Consumer Protection Act passed in 2010, which is now administered by the Consumer Financial Protection Bureau (CFPB). TRID applies to most "closed-end" loans made on or after August 1, 2015 that are secured by real property. These are loan types that are exempt from TRID:

  text

CFPB Fines: 2015

Wednesday, May 06, 2015

CFPB Fines

While the Consumer Finance Protection Bureau (CFPB) has grabbed headlines with huge fines levied against GE Capital ($225 million), JP Morgan Chase ($36 million) and Wells Fargo ($26 million), the following are actions taken and large fines levied by the CFPB on smaller mortgage lenders and servicers in 2015 alone:

  text

Mortgage Compliance Advisors Announces the Incorporation of Fannie Mae Loan Defect Categories

Tuesday, February 03, 2015

Mortgage Compliance Advisors (MCA) announced today that it has incorporated the Fannie Mae Loan Defect Categories into their mortgage quality control audits. To see the full article, click here.

  text

CFPB fines lender $730k for violating LO Compensation Rule

Tuesday, November 18, 2014

Franklin Loan Corp, a southern California lender, was fined $730,000 by the CFPB for violating the LO Compensation Rule. Click here to read the full article.

  text

Request more information here
Contact Sales (888) 556-0796 or Technical Support (877) 741-6867