Why Have Mortgage Origination Costs Increased?
Mortgage origination costs have risen in recent years. Uncover what has contributed to this increase and so much more in this blog post.
Top 10 Servicing QC Findings in a Turbulent Year
2020 was a ground-shifting year, especially in the world of servicing; here are the most common findings of QC servicing from the past year.
MetaSource Mortgage 2020: State-of-the-Art Solutions in an Evolving Landscape
The mortgage industry has undergone a remarkable evolution over the past decade, emerging from the collapse of the subprime market into a period of heightened regulatory scrutiny and digital transformation. Many of the digital options that are now remaking the mortgage process were still a few years away from introduction when the decade began, but…
Top 15 Mortgage QC Findings for 2019
The top 15 mortgage quality control issues in 2019, as compiled from tens of thousands of post-close QC audits performed by MetaSource over the past year, continue to demonstrate challenges executing the TRID Rule designed to meet the objectives and requirements of Title X of the Dodd-Frank Act. In the fourth full year of the…
Not Easy, Cheap Nor “Out of the Box”
Guest Blog by Mary Kladde Walraven Digital transformation toward automation is not easy, cheap, or “out of the box”. Any of these words used in a sales pitch or marketing material should set off major red flag warnings in your mind, pun intended. Technology and software development, in general, does not typically lend itself to…
A Glimpse into the Mortgage Industry’s Digital Future
The Digital Mortgage conference in Las Vegas later this month will bring together some of the most innovative minds in the industry to share a world of new technology that is slowly but surely pushing the mortgage business out of its over-stuffed file folders and into a (mostly) paperless future. Among other topics, speakers will…
Standardizing Lending Examination Formats (LEF)
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…
MERS QA 2018 Challenges: Poorly Documented Default Triggers and Turnover
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…
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…