MetaSource Mortgage Blog

Join MetaSource at the MBA National Mortgage Servicing Conference

Wednesday, February 13, 2019

Join MetaSource at MBA National Mortgage Servicing Conference

When thousands of mortgage servicers gather in Orlando later this month for the MBA National Mortgage Servicing Conference & Expo, they will tackle challenges ranging from economic conditions to weather.

The event in Orlando, Feb. 25-28, will include workshops and sessions on things like state mortgage servicing rules and borrower retention.

Servicers continue to face compliance pressures as state regulators are eager to step in wherever federal compliance may be easing.

Managing costs is also a perennial challenge, as both compliance and competitive pressures exacerbate the effect of inefficiencies.

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Top 15 Mortgage QC Findings for 2018

Friday, January 18, 2019

Mortgage QC: Top 15 Findings for 2018

The top 15 mortgage quality control issues in 2018, as compiled from tens of thousands of post-close QC audits that we performed over the past year, show lenders still struggling to consistently comply with enhanced disclosure requirements instituted by the Consumer Financial Protection Bureau (CFPB) in 2016.

In the third full year of the new requirements posed by the TILA-RESPA Integrated Disclosures (TRID) rule, our audits show three of them in the top 5 quality control findings, where they have been lodged from the beginning. The number of these regulatory issues remained steady in 2018 even as a decrease in the number of mortgages led to a drop in the volume of audits.

"Despite everyone's understanding of TRID and efforts to correct for it, we're not really seeing the improvement we should be seeing," said Brady Meadows, Strategic Account Manager at MetaSource.

Meadows says the findings suggest that lenders may be juggling too many versions of documents as circumstances change, leading to lost or conflicting records. Some lenders, he said, reissue documents for every small change, creating multiple re-disclosures "when it's not necessarily required." he said.

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Join MetaSource at the MBA Independent Mortgage Bankers Conference

Thursday, January 17, 2019

Join MetaSource at the MBA Independent Mortgage Bankers Conference

The challenges facing non-bank mortgage lenders in 2019 include an uncertain economic environment and the certainty of increasing scrutiny.

Fewer originations and low refinance volumes have stoked conversations around liquidity and strategies for increasing efficiency when margins are tight.

Against that backdrop, independent mortgage lenders will gather for the Mortgage Bankers Association’s annual Independent Mortgage Bankers Conference Jan. 28-31 in San Francisco to workshop topics around M&A and dig in to what the economic data suggests about the market outlook.

Along with strategies for “Maintaining Liquidity in a Dry Climate,” attendees will hear from the MBA’s chief economist about how current economic, housing market and mortgage market trends could impact the non-bank mortgage industry.

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MetaSource Accepted as Third-Party Due Diligence Firm by S&P

Tuesday, January 08, 2019

MetaSource Accepted as Third-Party Due Diligence Firm by S&P

MetaSource, a leading provider of mortgage quality control services and technology, has been accepted to the Standard & Poor's (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securities. MetaSource is one of only a small group of firms that met the assessment factors that are part of S&P's increasingly strict criteria for the list.

"The rating is considered to be one of the 'gold standards' of the industry, and the fact that MetaSource has achieved it should give investors tremendous confidence in our abilities as we move further into this marketplace," said MetaSource's president & CEO, Adam Östhed.

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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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