MetaSource Mortgage Blog

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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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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