MetaSource Mortgage Blog

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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