MetaSource Mortgage Blog

Symmetri: Bridging the Gap for Mortgage Origination

Tuesday, August 06, 2019

Symmetri Bridging the Gap for Mortgage Origination

Technology has brought some impressive solutions to the mortgage industry even if paperwork still occasionally has the upper hand.

Consumers have seen their share of the process simplified dramatically with the emergence of Rocket Mortgage and other mortgage point of sale (POS) platforms, with lenders rushing to get their own versions out into the market.

But in an industry with so many moving parts, innovation in one part of the process doesn't necessarily transfer well to the other systems needed to complete the loan origination process, creating frustrating gaps in the streamlining effort.

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MetaSource’s 'Symmetri' to Streamline Loan Origination with Bridge Between Borrower Centric and Lender LOS Platforms

Thursday, August 01, 2019

MetaSource Launches Symmetri Software

MetaSource®, a leading provider of mortgage quality control services and technology, has launched its latest solution for the mortgage industry with software that bridges borrower-friendly loan origination platforms with the back-office loan origination platforms used by lenders.

Symmetri™ is a software integration solution that will streamline the flow of mortgage information that is collected from consumer point of sale (POS) platforms. As a growing number of mortgages originate within these popular and easy-to-use customer interfaces, lenders have been left with a gap that requires time-consuming and clunky manual processes for getting borrower information into their systems.

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Servicer Worries Compounded by Prospect of Having to Scrutinize Portfolio of ARMs for LIBOR Terms

Monday, July 01, 2019

Servicer Worries Compounded by Prospect of Having to Scrutinize Portfolio of ARMs for Terms

Uncertainty over what will replace the long-used London interbank offered rate (LIBOR) as an index for adjustable rate mortgages (ARMs) if it is phased out in 2021 as expected has mortgage servicers with large portfolios of adjustable rate loans scrambling to establish next steps.

The head of pricing and execution for Freddie Mac described industry concerns as “almost Y2K-ish” according to a National Mortgage News account of a recent panel discussion at the Mortgage Bankers Association National Secondary Market Conference.

In April, the publication described “an alarming lack of progress” in preparations for conversion in the two years since it became known that LIBOR was on its way out as a global reference lending rate.

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Learn, Connect and Lead: Join MetaSource at MERS User Conference

Tuesday, April 30, 2019

MERS User Conference and e-Mortgage Boot Camp

Collaboration and innovation are the themes of this year's MERS® User Conference and e-Mortgage Boot Camp June 24-26 in Reston, Va.

And whether you're beginning or an experienced MERS user or someone who is looking to learn more about successful eMortgage implementation, you are sure to come away with a wealth of new knowledge. The digital transformation of the mortgage industry has brought powerful efficiencies to some of the most complex and paper-intensive processes to be found in any industry.

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MetaSource Adds New MERS Reconciliation Feature to Popular mintrak² Platform

Tuesday, April 16, 2019

MetaSource Adds New MERS Reconciliation Feature to Popular mintrak² Platform

Incremental Updates Allow Servicers to Correct Data Whenever They Wish

MetaSource, a leading provider of mortgage quality control services and technology, has added a new feature to its market-leading solution for Mortgage Electronic Registry System (MERS®) reconciliation that will give users more control over the process of sending updated data to the MERS electronic mortgage registry.

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Don't Get Left Behind, The Future Is Here!

Friday, April 05, 2019

Conference of State Bank Supervisors (CSBS) and American Association of Residential Mortgage Regulators (AARMR)

Conference of State Bank Supervisors (CSBS) is currently sponsoring an initiative to standardize Lending Examination Formats (LEF) for depository and non-depository institutions for both state and federal supervised entities.

What is Lending Examination Format (LEF)?

Lending Examination Format (LEF) is the industry data standard for the e-exam process. It was developed by ComplianceEase and adopted by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). Compliance Ease currently offers the data collection and formatting via their RegulatorConnect and RegulatorDirect offerings.

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MERS QA 2018 Challenges: Poorly Documented Default Triggers and Turnover

Monday, March 25, 2019

MERS QA 2018: Servicers Struggle to Document Foreclosures and Bankruptcies, Monitor Subservicer

The documentation of default triggers for foreclosures and bankruptcies, subservicer compliance, and turnover among staff with MERS responsibilities were among the top challenges for MERS QA in 2018, according to a MetaSource analysis of its third-party audits for compliance with MERS® quality assurance guidelines.

The audits include a thorough review of a MERS member's operational policies and procedures as part of preparation for the required MERS eAnnual Report.

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New MERS Reconciliation Feature Allows Instant Updates

Thursday, March 14, 2019

New MERS Reconciliation Feature Allows Instant Updates

For too many servicers, reconciling mortgage data for MERS eQA requirements is a job they have come to dread.

With so much information to be reconciled across a thicket of often mismatched fields, it can be tempting to put off those monthly or quarterly tasks and assume you’ll get to it by the end of the year. But even for servicers with fewer than 1,000 loans a month to process, timely and consistent reconciliation is essential for avoiding trouble when it's time to file the MERS e-annual report – which can be a challenging effort even when you're well prepared.

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Product Development Director Has a Passion for Streamlining Mortgage Processes

Tuesday, March 12, 2019

Product Development Director Has a Passion for Streamlining Mortgage Processes

At MetaSource, we are committed to providing the technology and expertise that makes things easier for our clients in the mortgage industry.

Nowhere is that commitment stronger than in the work of our product development team members, who are tireless in their efforts to find an easier way to do just about everything.

This month, as we introduce the latest features of a product that has dramatically simplified the tedious work of reconciling mortgage data between multiple systems, we’d like to introduce the team member whose dedication and obsession with user-friendly processes has given us the industry-leading technology for the reconciliation of mortgage data with the MERS system.

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Join MetaSource at the MBA Technology Solutions Conference

Tuesday, February 26, 2019

Join MetaSource at MBA Technology Solutions Conference

Panelists at the MBA Technology Solutions Conference and Expo last year zeroed in on three issues driving the industry's embrace of technology: the effort to lower origination costs, the need for a better way to validate income and consumer demands for an improved borrower experience.

This year, a tight market and increasing disruption from the fintech corner have only added to the sense of urgency around digital transformation.

It's a scenario in which big banks and big lenders can more easily take advantage and one that MReport.com described in December as having left independent brokers struggling to keep up.

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