To support both the MERS processing standards and MERS members’ quality assurance responsibilities, MetaSource offers a full suite of MERS QA services and technology, designed to meet the data standards and industry best practices for satisfying MERS QA Requirements with minimal aggravation.
MetaSource provides customized solutions for any size audit requirements and document solutions for assignments or satisfactions, with QA options that include a variety of components:
- MERS data reconciliation software: mintrak®2™
- MERS QA reviews
- MERS third party review and annual report
- Other MERS support
MERS Data Reconciliation Software: mintrak®2™
Data reconciliation is time-consuming, error-prone and difficult, even with technology and IT support. But it doesn’t have to be.
Developed by MetaSource, the mintrak2 data reconciliation and remediation platform makes the process easy, reducing error rates to less than 4% on most portfolios with a user-friendly process that has become the industry standard for MERS data reconciliation. It’s also easy on your IT budget.
The MetaSource MERS team will custom map your data and walk you through the process to upload your data and MERS Member Reconciliation Extract (MRE) files to the mintrak2 system, which compares the data and flags discrepancies for correction.
With mintrak2, you can easily reconcile inconsistent data and make corrections. MetaSource sends the properly formatted flat file to MERS for correction.
The result is an aggravation-free process that needs no IT support and has no technology requirements. The MetaSource MERS team is available to provide support when you need it.
MERS Data Reviews & Appendix F Formatting
Were you selected for a data review by MERS? We can help you getting your information into the MERS Appendix F Format.
mintrak2 can split your data file into the proper Appendix F format. You download the files and send them to MERS through your SFTP on the day your file is needed, or we can help prepare the file for you.
MERS Document Review
If you need to complete a MERS document review, MetaSource can check a sample of your MERS documents against MERS Document and QA requirements, then identify and help correct any gaps.
MERS QA Plan Review
MERS Quality Control Procedures requires an annual QA plan review. We can manage updates to your annual QA plan, alert you of significant changes and provide both training and consulting on the implementation of these changes.
We also offer a “one-time” review that includes plan updates and training on implementation and best practices.
MERS Third Party Review & eAnnual Report
Every MERS member is required to perform an annual audit, and those servicing more than 1,000 loans are required to utilize a third-party service. MetaSource’s services are built on a thorough audit of your internal MERS policies and procedures as detailed within the MERS QA plan, MERS Policy and Procedures handbook, and the MERS annual report.
Our MERS Review Team will help you collect the documents needed for your annual review, review the documents and interview your team. When our review is done, we will complete the third-party review portion of the annual report. Then, your executive sponsor can complete the report and submit it to MERS by the Dec. 31 deadline.
Our MERS annual report also includes recommendations on best practices within an internal report and action steps for any compliance gaps. We also provide post-audit support.
If you need help pulling together your annual report, we can support you in the following ways:
- Review and validation of data reconciliation and remediation procedures: review of your procedures, review and validation of your data reconciliation process and review and audit of your aging discrepancy and remediation reports
- Annual document review: sampling and review of documents and/or assignments (images) compared to MERS QA standards, review and validation of MERS signing officer standards and corporate resolution management system
- Review and validation of MERS system information
- Complete, review and validate your MERS QA plan: comparison to current published MERS QA procedures manual; validation of compliance with operations, channel and member policy and procedures; related recommendations
- Production of a MERS QA internal audit report: reflects the preliminary findings and any exceptions or exclusions for deficiency issues identified with recommendations for improvement of internal policies and procedures
- Execution of MERS QA annual report for submission to MERSCORP Holdings
- Pre- and post-audit support services
Other MERS Support
- Policies & Procedures: MetaSource can provide review assistance to help you ensure you have the best possible policies and procedures in place
- System Administration, Reports & CRMS Requirements: MetaSource can provide custom solutions or help in any of these areas
Your MERS Partner
As a MERS Patron Member, the MetaSource team is knowledgeable and here to help. When you need an answer on how to handle a Quality Assurance related issue, MetaSource offers timely and cost-effective professional consultative services. MetaSource excels in best practices, process flow enhancements, technology and operational compliance.