Thursday, January 12, 2017
With 2016 in the books, here is a look back on the top 15 mortgage quality control issues based on thousands of post-close QC audits that we performed over the past year.
All but three are compliance and TRID related. While we did see a slowdown in TRID findings as the year progressed it does illustrate the impact these regulations have had on the industry.
Thursday, January 05, 2017
MetaSource Mortgage exhibit at MBA's Independent Mortgage Bankers Conference & Expo 2017.
Mortgage QC, MERS & Workflow Automation
Join us in booth #24 to learn about our mortgage loan quality, MERS quality assurance and workflow automation solutions that streamline and ensure quality
control in step with the mortgage origination process as well as
servicing these loans over their life.
Thursday, December 22, 2016
MetaSource Senior Director of Mortgage Services Ruth Lee recently attended the inaugural SourceMedia Digital Mortgage Conference in San Francisco. The following are her observations on the show and what the industry can take away from the event.
The mortgage industry is hungry for digital solutions, and attendance at the first ever Digital Mortgage Conference, hosted by SourceMedia, is evidence of that fact. A conference that was expected to only attract around 300 attendees ended up wooing close to a thousand attendees all the way to San Francisco in the midst of the holiday season. To me, this is indicative of two things:
Friday, December 02, 2016
The Consumer Financial Protection Bureau (CFPB) recently issued a final rule for mortgage servicers. The intention is to protect struggling borrowers, surviving family members and borrowers in bankruptcy from the threat of a swift foreclosure. The new rule also protects homeowners when their mortgage is transferred to another servicer.
The following is an overview of the 9 new CFPB servicer requirements.
Monday, November 21, 2016
If you're a housing finance agency (HFA) that finances or services loans, are you satisfied with how efficiently mortgages are processed?
Many HFAs struggle to keep up with existing loan volumes especially if they are increasing because they don't have the budget to add staff. This is why many consider outsourcing whole loan purchase reviews and a variety of related document management, compliance quality control (QC) and back-office processes to MetaSource Mortgage. Here's why.
Monday, November 07, 2016
It's that time of year again: time to complete your annual MERS audit, which has to be complete by December 31.
We know that its a low priority for loan servicers throughout the year but, if you want to avoid completing your MERS audit over the holidays, we recommend that you get started now.
And if you have less than 1,000 MINs and don't want to do it yourself, consider our MERS third-party review service.
Wednesday, November 02, 2016
Guest Blog: Brady Meadows
On October 24th Fannie Mae announced their Day 1 Certainty
program. Fannie Mae has integrated DU Validation into their DU system with vendors to validate income, employment, and assets. Lenders who chose to use the DU Validation service will get day one rep and warrant relief when it comes these validations.
Tuesday, October 18, 2016
MetaSource, the leading provider of mortgage quality control (QC)compliance advisory and workflow automation solutions, announced it has
partnered with ComplianceEase® to provide automated compliance testing
for loans submitted to MetaSource for review.
Mortgage Risk Mitigation
MetaSource provides lenders with independent third-party compliance
reviews of their loan pipeline to provide feedback on potential issues
that may cause issues related to salability in post-closing or be
uncovered during a regulatory audit. In particular, when conducting
compliance checks during the pre-funding QC process, this review offers
lenders significant risk mitigation benefits by addressing loan quality
issues prior to funding.
Tuesday, October 04, 2016
If you choose to perform a portion or all of your pre-fund mortgage quality control (QC) audits in house, QReview is a powerful new tool to use for completing them rapidly, especially if you are using spreadsheets or home grown software to track pre-fund data today.