To support MERS processing standards and MERS members’ quality assurance responsibilities, MetaSource offers a full suite of MERS compliance services and technology. Our solutions are designed to meet the data standards and industry best practices for satisfying MERS QA requirements with minimal aggravation.
MetaSource provides custom solutions for any size audit requirements. Our services include:
- MERS data reconciliation software: mintrak®2™
- MERS loan QA reviews
- MERS third-party review and annual report
MERS Data Reconciliation with mintrak2
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 MERS compliance easy.
- Error rates reduced to less than 4% on most portfolios
- Simplified data reconciliation with user-friendly interface
- Cost savings – with no need for additional IT support
- Fast and clear discrepancy identification
- Elimination of data review headaches: data in any format accepted and converted to MERS Appendix F format
- Aging mortgage identification numbers (MINs) reports
- Access control to data, providing optimal security and peace of mind
- Functionality to update MERS instantaneously
- And more!
mintrak2 makes reconciling and remediating data simple. The MetaSource MERS team will custom map your data and walk you through the process of uploading it, and your MERS Member Reconciliation Extract (MRE) files to the mintrak2 system. Once uploaded, the system will compare the data, flag discrepancies for correction, assist in getting corrected data into the appropriate flat file format and automatically send completed file to MERS.
MetaSource’s mintrak2 reconciles nearly 60 million MINs per year!
MetaSource’s MERS data reconciliation and remediation platform, mintrak2, takes the guesswork out of MERS compliance and expedites the review process.
MERS Loan QA Reviews
Making sure you meet MERS compliance requirements is a top priority for MetaSource, which is why we offer multiple types of QA reviews, including document, MERS timing and servicing system to MERS reviews.
Our document review includes checking a sample of your documents against MERS document and QA requirements. Our MERS Compliance Audit Service ensures that you meet quality control standards by examining your files against MERS QC-specific document and timing requirements. MetaSource also cross-checks the information in the MERS system with the information in your servicing system to ensure it matches. Our MERS loan QA reviews are designed to keep you off MERS findings lists.
MERS Third-Party Annual Review Services
Every MERS member is required to perform an annual review, and those servicing more than 1,000 loans are required to utilize a third-party service. MetaSource’s annual report services are built on a thorough audit of your internal MERS policies and procedures as detailed within the MERS QA Plan, MERS System Procedures Manual and the MERS Annual Report.
MetaSource’s MERS third-party annual review services include:
- Review and validation of data reconciliation and remediation procedures
- Production of a MERS QA internal audit report
- Review of annual documents
- Execution of MERS QA annual report for submission to MERSCORP Holdings
- Support with MERS policies and procedures
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 reviewer portion of the annual report for you. Then, your Executive Sponsor can complete the report and submit it to MERS by the December 31 deadline.
Our MERS annual report service also includes recommendations on best practices with an internal report and action steps for any compliance gaps.
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 MERS quality assurance-related issue, MetaSource offers timely, cost-effective, professional consultative services.
MetaSource excels in best practices, process flow enhancements, technology and operational compliance. We stay up to date with MERS regulations and can provide you with the information you need to do the same. We even created a MERS reconciliation implementation guide to assist Members who are new to the process. With MetaSource as your MERS partner, you can obtain the software and guidance you need to comply with requirements.