MetaSource Mortgage Blog

MetaSource Adding 3 New Categories of Mortgage Servicing QC Audits

Thursday, September 27, 2018

MetaSource Adding 3 New Categories of Mortgage Servicing QC Audits

SALT LAKE CITY, Utah, Sept. 27, 2018 – MetaSource, a leading provider of mortgage quality control services and technology, has announced the addition of three new quality control audits offered through its Servicing QC department. The new audits bring additional depth to the already impressive list of specialized QC audits offered by MetaSource.

MetaSource Senior Vice President of Mortgage Services, Mary Kladde said the new audit categories are the result of market demand. “Increased regulatory and agency scrutiny in combination with tightening market conditions have mortgage lenders and servicers watching their P’s and Q’s, ” Kladde said.

“By zeroing in on quality control at precise stages of the process, we are able to offer our clients a targeted and extremely focused level of QC that results in far greater accuracy – and peace of mind.”

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Digital Transformation for HFAs: Join MetaSource at NCSHA National Conference

Friday, September 21, 2018

Digital Transformation for HFAs Join MetaSource at NCSHA

The digital transformation of the mortgage industry is poised to have significant impact in the work of the state Housing Finance Agencies.

Greater efficiency, improvements in accuracy and a more streamlined experience for borrowers can go a long way toward the agencies' goals of promoting affordable housing across the country.

At MetaSource, we're proud to be part of the solutions that are transforming the mortgage industry, eliminating headaches for borrowers and lenders alike, and improving quality controls throughout the process.

Next month, we'll be sharing some of those solutions at the annual conference hosted by the National Council of State Housing Agencies, where this year's agenda will include a close look at the digital tools that are changing mortgage practices for the better.

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Loan Boarding Unclogged

Wednesday, September 12, 2018

Loan Boarding Unclogged in 3 Easy Steps

When you take in hundreds or even thousands of new loans each month from originations, MSR acquisitions, or portfolio transfers, there is no such thing as a "little" discrepancy. Mismatches between mortgage data and the information in the loan file can create delays, add costs and prolong research cycles.

Even performing due diligence or QC on a sample will not identify all of the issues.

So how do you efficiently manage the intake of multiples files that can contain between 500 and 1,500 pages per file without letting discrepancies stall the process?

You could try to hire your way out, bringing on an army of quality control specialists to comb through your documents with sharp red pencils, but...

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Join MetaSource in the Future at Digital Mortgage 2018

Thursday, September 06, 2018

Join MetaSource in the Future at Digital Mortgage 2018

The journey to Digital Transformation in the mortgage industry can seem like an uphill climb at times – uphill across a mountain of documents and data. And yet, technology continues to rise to the occasion, transforming mountains into rapidly moving streams of information quickly ingested and easily retrieved.

In the process, we're saving more than time: quality control is also improving, as error-prone manual processes give way to systems that can weed out duplicate documents and identify inconsistent or missing data.

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Ensuring Loan Quality in a Tight Market

Thursday, August 30, 2018

Ensuring Loan Quality in a Tight Market

As a quality control expert with more than two decades of experience in the mortgage industry,  MetaSource Senior Vice President of Mortgage Services Mary Kladde has seen all the ways in which loan quality can fall short.

But while loan defect reporting is an important process, required of any lenders doing business with the government-sponsored enterprises (GSEs), Kladde would like to see a stronger focus on some of the root causes of loan defects – and ways to correct them earlier in the process.

“Lenders don’t always focus on the right place,” Kladde says.

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Top 5 Ways Loan Servicers Get into Trouble on MERS Annual Report

Thursday, July 19, 2018

Top 5 Ways Loan Servicers Get Into Trouble on MERS Annual Report

We know how annoying it can be when retailers start reminding you to get a head start on your holiday shopping in the middle of October. But December does have a way of sneaking up on you.

That was part of the message MetaSource Manager for MERS Operations Kelly Jensen shared with the audience at his panel on MERS reconciliation at last month's MERS User Conference in Virginia.

Jensen doesn't really care when you start your holiday shopping. But as an expert on the requirements of the MERS® system, he has seen too many loan servicers wait until the last minute to start planning for the annual report.

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RPA Whitepaper: How to Achieve Dramatic Efficiency Gains in the Mortgage Industry

Tuesday, July 10, 2018

Lien Release Whitepaper: 5 Best Practices for Reducing Rejections

Cost and time savings, along with the need for greater accuracy, continue to drive the growth of Robotic Process Automation (RPA) in a variety of industries, led by the financial, healthcare and telecom sectors, market researchers report.

While the market is still small, some analysts have suggested that the global market for RPA could reach $8.75 billion by 2024, with small and medium sized businesses expected to incorporate RPA into their processes "at an alarming rate."

With some estimates putting the cost of RPA-accomplished work at 65-80% of the cost of having the same work done by employees, the technology is expected to attract a growing number of businesses whose high volume of routine, repetitive and rules-based processes are easily automated.

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MERS Reconciliation: Beyond the Basics

Thursday, June 14, 2018

MERS Reconciliation Beyond the Basics

With 15 years of experience in the mortgage field, MetaSource Manager for MERS Operations Kelly Jensen has a lot of tips to share on the subject of reconciling mortgage documents with the MERS® system.

His advice: work hard and learn to "speak geek."

That's shorthand for finding someone on your IT team who understands the meticulous requirements of a system that has to match up the nearly three-dozen mortgage document fields with the corresponding fields in the MERS system. Get it wrong and MERS will kick it back to you for corrections. For servicers handling thousands of mortgages a year, that adds up to a lot of time spent rehashing the details.

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1.1 Million Reasons for Lien Release Rejections

Tuesday, March 06, 2018

Lien Release Rejections

In 25 years of providing support and solutions to the mortgage industry, we've seen a little bit of everything. But there's almost nothing we hate to see as much as a lien release that comes back rejected – especially when it's completely avoidable.

Lien release rejection leaves lenders at risk, because it creates a break in the custody of the underlying property. Lenders can't move forward and it can take months to correct. Plus to make matters worse, the penalties for non-compliance of state statutes that could be levied on the lender will have a dramatic effect on their bottom line.

But as disruptive as lien release rejection can be, it is, unfortunately, a common occurrence. That's partly because there are so many ways a lien release can be rejected at one of the more than 3,600 recording offices across the United States. Here are the top reasons lien releases are rejected, and how to avoid them.

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Learn about Servicing QC at The National Mortgage Servicing Conference 2018

Sunday, February 04, 2018

If you're attending the upcoming National Mortgage Servicing conference, be sure to visit MetaSource at the National Mortgage Servicing Conference & Expo 2018 in booth #618. You will learn about new servicing quality control (QC) requirements, our QC services and a host of other solutions we offer to mortgage servicers.

Learn about Servicing QC at The National Mortgage Servicing Conference 2018

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