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,…
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…
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…
With 15 years of experience in the mortgage field, MetaSource Manager for MERS Operations Kelly Jensen has a lot of tips to share on the subject of reconciling mortgage documents with the MERS® system. His advice: work hard and learn to “speak geek.” That’s shorthand for finding someone on your IT team who understands the…
In the spring of 2011, the Office of the Comptroller of the Currency issued consent orders outlining a quality assurance mission for MERSCORP Holdings, Inc. and the nation’s largest servicers. The mission was designed to ensure the data accuracy within the MERS® System could effectively support its role in securitization. As a result, MERS consolidated…
Are You Ready for the New URLA? Starting January 2018, the newly redesigned uniform residential loan application (URLA) – also known as Fannie Mae Form 1003 – will have a cleaner look with more white space and a defined separation of borrower and lender information. It has also been updated so that it is compliant…
“Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.” – Carl Sandburg We hear about mortgage file quality control (QC) turn times of 60-90 days from other QC outsourcing…
The June issue of Servicing Management features the article Best Practices for Mortgage Boarding, Workflow Automation and Document Management written by Ruth Lee, our Sr. Director of Mortgage Services. Below is an excerpt of the article. Let us know if we can help you with any of the topics discussed. Article Excerpt A best practice…
MetaSource Study Finds 12 of Top 15 QC Issues Were TRID-Related Salt Lake City—Mortgage lenders found the federal “Know Before You Owe” mortgage disclosure rule—formally known as TRID—to be the source of most of their quality control (QC) headaches in 2016, the first full year of the rule’s implementation. TRID accounted for 12 of the…