Many mortgage originators and servicers conduct their own mortgage file QC audits. Who’s auditing these auditors? With continuously changing post-close, pre-fund, servicing, and MERS changes from Fannie Mae, Freddie Mac, FHA, HUD, and the CFPB, it’s increasingly important to ensure your audit team is up to speed on all mortgage QC requirements and self-auditing your…
With all the cyber-attacks and security breaches in companies, in the US government, even in cars, security should be the top priority for all companies and their mortgage quality control compliance partners. In today’s world it is not enough to just depend on SFTP for secure mortgage document submissions. The only defense you have from…
New TILA-RESPA integrated disclosure rules (TRID) are tricky to condense because the rule runs almost 2,000 pages. However, that is why you turn to MCA. In this blog post, we will explain what TRID replaces in a loan file and what you should do about it. Loan Types Affected TRID is pursuant to the Dodd–Frank…
What Is Included in a MERS QC Audit? Our MERS QC Audit includes a loan-level review based on a random sampling of loans from client’s total YTD production volume (# of units) and also looks at the company’s compliance of six main items: Client has in place procedures designed to provide reasonable assurance that is…
About The following content is intended to emphasize Prefunding QC as a proactive QC process vital to improve loan and credit quality. This White Paper is purposed to define the importance of verifying loan data quality before the loan is delivered to the investor, and to convey Prefunding QC as paramount in actively reducing loan…