MetaSource Mortgage Blog

Don't Get Left Behind, The Future Is Here!

Friday, April 05, 2019

Conference of State Bank Supervisors (CSBS) and American Association of Residential Mortgage Regulators (AARMR)

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 by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR). Compliance Ease currently offers the data collection and formatting via their RegulatorConnect and RegulatorDirect offerings.


Loan Boarding Unclogged

Wednesday, September 12, 2018

Loan Boarding Unclogged in 3 Easy Steps

When you take in hundreds or even thousands of new loans each month from originations, MSR acquisitions, or portfolio transfers, there is no such thing as a "little" discrepancy. Mismatches between mortgage data and the information in the loan file can create delays, add costs and prolong research cycles.

Even performing due diligence or QC on a sample will not identify all of the issues.

So how do you efficiently manage the intake of multiples files that can contain between 500 and 1,500 pages per file without letting discrepancies stall the process?

You could try to hire your way out, bringing on an army of quality control specialists to comb through your documents with sharp red pencils, but...


Ensuring Loan Quality in a Tight Market

Thursday, August 30, 2018

Ensuring Loan Quality in a Tight Market

As a quality control expert with more than two decades of experience in the mortgage industry,  MetaSource Senior Vice President of Mortgage Services Mary Kladde has seen all the ways in which loan quality can fall short.

But while loan defect reporting is an important process, required of any lenders doing business with the government-sponsored enterprises (GSEs), Kladde would like to see a stronger focus on some of the root causes of loan defects – and ways to correct them earlier in the process.

“Lenders don’t always focus on the right place,” Kladde says.


New Whitepaper: Mortgage Servicing Workflow Best Practices

Friday, July 22, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

In a recent National Mortgage News survey, the three pain points most often identified by servicing executives as highly challenging include the following:

  1. Moving mortgage data from loan origination to servicing systems (21%)
  2. Archiving and auditing for compliance and customer contact (20%)
  3. On-boarding new loans or acquired portfolios (17%)

Whitepaper Highlights

Our whitepaper, Mortgage Servicing, Boarding, Workflow & Document Management Best Practices, discusses a series of best practices that resolve the three issues above. They include:

  • Mortgage boarding automation, including automated document classification, OCR, the business case for automation, and the processes required
  • Smart mortgage document management, covering instant searchability, workflow automation, automated retention scheduling, auditor self-service, the cloud, and using the system to automation back-office process like AP and HR
  • Mortgage quality control (QC), including pre-purchase reviews and servicing QC audits

New Whitepaper: Mortgage Compliance Education Best Practices

Thursday, June 23, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

Both the Consumer Financial Protection Bureau (CFPB) and Federal Deposit Insurance Corporation (FDIC) require that you train your employees on mortgage compliance issues and that you document this training. This training should cover fraud prevention, fair lending, suspicious activities reports (SARs), anti-money laundering, and more.

Mortgage compliance is more complicated and challenging than ever. In the past, training your licensed and unlicensed employees – and keeping them up to date – has been time consuming and frustrating but it doesn't have to be.

This whitepaper covers a best practice approach for mortgage originators needing to be in full compliance the education and documentation requirements from all federal, state and agency requirements – as easily and cost-effectively as possible. And reading our whitepaper is better than having to read the CFPB's 924-page Supervision and Examination Manual!


New Whitepaper: Pre-Fund Mortgage QC Best Practices

Monday, March 07, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

By now, everyone in the mortgage industry knows about the 10% random, post-close quality control (QC) audit requirements of Fannie Mae, Freddie Mac and the FHA/HUD. See our whitepaper here to learn about post-close audit QC best practices.

However, many mortgage lenders are not familiar with pre-funding QC, which increases the chances of non-compliance penalties being levied upon your organization.

This whitepaper answers the following questions:


New Whitepaper: Post-Close Mortgage QC Best Practices

Tuesday, February 16, 2016

New Whitepaper: Post-Close Mortgage QC Best Practices

Randomly auditing 10% of your mortgages on a post-close basis is required by Fannie Mae, Freddie Mac and the FHA/HUD. If this is news to you, you need to contact us immediately...

What is news to many lenders is how implementing document-related best practices reduce post-close quality control (QC) findings, minimize non-compliance fines, slash operating costs, and can even lead to a competitive advantage in mortgage origination.

This whitepaper answers the following questions:


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