MetaSource Mortgage Blog

Top 5 Ways Loan Servicers Get into Trouble on MERS Annual Report

Thursday, July 19, 2018

Top 5 Ways Loan Servicers Get Into Trouble on MERS Annual Report

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 his panel on MERS reconciliation at last month's MERS User Conference in Virginia.

Jensen doesn't really care when you start your holiday shopping. But as an expert on the requirements of the MERS® system, he has seen too many loan servicers wait until the last minute to start planning for the annual report.

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MERS Reconciliation: Beyond the Basics

Thursday, June 14, 2018

MERS Reconciliation Beyond the Basics

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 meticulous requirements of a system that has to match up the nearly three-dozen mortgage document fields with the corresponding fields in the MERS system. Get it wrong and MERS will kick it back to you for corrections. For servicers handling thousands of mortgages a year, that adds up to a lot of time spent rehashing the details.

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Top 8 MERS QA Findings

Tuesday, September 19, 2017

MERS QA: Top 10 Findings for 2017 | MetaSource Mortgage

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 the Consent Order to reflect new Member requirements. Today, MERS requires an annual scope of review for MERS General Members. It encompasses a review of the 6 conditions listed on the MERS Annual Report. The core objectives of the 6 conditions listed are answering how a Member supports MERS data integrity requirements and operational procedures.

MetaSource performs MERS Annual Report reviews as the Third Party. We perform a thorough review of a Member's data integrity and operational policies and procedures for the production and execution of a MERS Annual Report. Now with more than half of 2017 in the books and servicers are eyeing that end of year deadline for the MERS Annual Report, here's a look back on the top 8 MERS quality assurance (QA) issues based on our client work over the last six years:

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How to Ease MERS QA & Other Servicing Headaches: Join MetaSource at the MERS 2017 User Conference

Tuesday, May 30, 2017

How to Ease MERS QA & Other Servicing Headaches: Join MetaSource at the MERS 2017 User Conference 

Join us at the Reston Hyatt from June 8-9 to learn the latest about MERS QA and mortgage QC outsourcing services and technology. You will learn about our full suite of MERS quality assurance (QA) auditing services, the latest in servicing quality control (QC) as well as our new lien release service.

Be MERS Audit-Ready All Year Long

MERS QA compliance changes create significant challenges to servicing and sub-servicing members. That is why we've developed a full suite of MERS QA services and technology. These solutions are designed to help every MERS Member become "MERS audit-ready all year long" with impeccable data standards and industry best practices related to the assignment of residential real estate mortgages.

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Notice of a New 2017 Annual Report Requirement for the MERS® System

Monday, March 06, 2017

Recently MERS sent an email to all General Members that are listed as the Servicer on 1,000 or more active MINs. This email notification was sent to inform these companies that beginning with the 2017 MERS® Annual Report, MERSCORP Holdings, Inc. will require that all Third Party Reviewers provide their electronic signature on the eAnnual Report.

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It's MERS Audit Season: Are You Ready?

Monday, November 07, 2016

Mortgage Electronic Registration System (MERS) Logo

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.

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MetaSource Mortgage at the National MBA Conference 2016

Saturday, October 01, 2016

MetaSource Mortgage at the National MBA Conference 2016

MetaSource Mortgage will once again exhibit at the annual Mortgage Bankers Association (MBA) national conference and expo at the Hynes Convention Center from October 23-26.

Stop by to see how MetaSource Mortgage can ensure the accuracy, completeness and compliance of your loans, so that you can concentrate on the core of your business. Specifically, you can learn more about our primary services listed below.

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MetaSource Mortgage at the MBA's Risk Management, QA & Fraud Prevention Forum

Friday, August 05, 2016

MetaSource Mortgage at the MBA's Risk Management, QA & Fraud Prevention Forum

MetaSource Mortgage will exhibit at the Risk Management, QA & Fraud Prevention Forum 2016 that is hosted by the Mortgage Bankers Association (MBA) from September 28-30 in Los Angeles.

Stop by booth #18 to see how MetaSource Mortgage can ensure the accuracy, completeness and compliance of your loans, so that you can concentrate on the core of your business. Specifically, you can learn more about our primary services listed below.

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Titan Lenders Corp. Joins MetaSource

Monday, March 21, 2016

MERS® QA, Trade & Servicing Transaction Management Expert Adds Depth to MetaSource's Portfolio of Mortgage QC Solutions

Titan Lenders Corp Joins MetaSource Mortgage

Salt Lake City, Utah – MetaSource, the leading provider of mortgage quality control (QC) compliance advisory and workflow automation solutions, today announces the acquisition of Denver-based Titan Lenders Corp. This acquisition further strengthens the MetaSource mortgage portfolio of services, specifically by adding depth to its existing MERS and whole loan purchase review audit team and expanding into trade and servicing transaction management services.

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New MERS Penalties for Mortgage Registration & Transfers

Tuesday, July 14, 2015

Mortgage Electronic Registration System (MERS) Logo

While many mortgage loan originators are focused on upcoming TRID rules that go into effect in October 2015, many are unaware of important changes to the Mortgage Electronic Registration System (MERS) rules of membership that include penalties for not adhering to their mortgage registration and transfer requirements.

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