Tag: mortgage quality control (QC) audits

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These days, it can be easy to forget all of the more routine challenges that mortgage servicers face. Millions of borrowers are seeking forbearance of monthly mortgage payments under the CARES Act, a provision of the federal coronavirus relief bill, and state relief efforts. With millions more expected to follow suit, many servicers are bracing…

The COVID-19 virus has left business owners with unprecedented challenges around the health of their employees and the health of their companies. Due to the pandemic, many  businesses are facing an almost overnight transformation to digital workplaces. Newly remote workers suddenly need to communicate, collaborate, and get work done from the safety of their homes….

The mortgage industry has undergone a remarkable evolution over the past decade, emerging from the collapse of the subprime market into a period of heightened regulatory scrutiny and digital transformation. Many of the digital options that are now remaking the mortgage process were still a few years away from introduction when the decade began, but…

The top 15 mortgage quality control issues in 2019, as compiled from tens of thousands of post-close QC audits performed by MetaSource over the past year, continue to demonstrate challenges executing the TRID Rule designed to meet the objectives and requirements of Title X of the Dodd-Frank Act. In the fourth full year of the…

Panelists at the MBA Technology Solutions Conference and Expo last year zeroed in on three issues driving the industry’s embrace of technology: the effort to lower origination costs, the need for a better way to validate income and consumer demands for an improved borrower experience. This year, a tight market and increasing disruption from the…

The challenges facing non-bank mortgage lenders in 2019 include an uncertain economic environment and the certainty of increasing scrutiny. Fewer originations and low refinance volumes have stoked conversations around liquidity and strategies for increasing efficiency when margins are tight. Against that backdrop, independent mortgage lenders will gather for the Mortgage Bankers Association’s annual Independent Mortgage…

MetaSource will add three new quality control audits to target troublesome areas for mortgage servicing QC.

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…