Top 15 Mortgage QC Findings for 2020
This report includes MetaSource’s top 15 QC findings for 2020 along with a deep dive into our #1 finding and best practices for avoiding it.
TRID Turns 5: What We’ve Learned About Successfully Managing Mortgage Origination Compliance
MetaSource looks back on the past 5 years since TILA- RESPA Integrated Disclosure (TRID) rules were instituted, and how these regulations impact lenders.
Top 15 Mortgage QC Findings for 2019
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…
Top 15 Mortgage QC Findings for 2018
The top 15 mortgage quality control issues in 2018, as compiled from tens of thousands of post-close QC audits that we performed over the past year, show lenders still struggling to consistently comply with enhanced disclosure requirements instituted by the Consumer Financial Protection Bureau (CFPB) in 2016. In the third full year of the new…
Top 15 Mortgage QC Findings for 2017
With 2017 behind us, here is a look back at the top 15 mortgage quality control issues based on tens of thousands of post-close QC audits that we performed over the past year. In their second full year of adjusting to the Consumer Financial Protection Bureau’s (CFPB) enhanced disclosure requirements, lenders managed a better track…
TRID Rule Triggered Most 2016 Mortgage QC Headaches
MetaSource Study Finds 12 of Top 15 QC Issues Were TRID-Related Salt Lake City—Mortgage lenders found the federal “Know Before You Owe” mortgage disclosure rule—formally known as TRID—to be the source of most of their quality control (QC) headaches in 2016, the first full year of the rule’s implementation. TRID accounted for 12 of the…
Top 15 Mortgage QC Findings for 2016
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…
Top 10 Mortgage QC TRID Findings for 2016
Now that TRID has been in effect since October 3, 2015 (with the grace period for enforcement having ended in March 2016), we now have over six months of data on findings based on the pre-fund and post-close quality control (QC) audits that we perform. Overall Findings Because of the new formatting required by TRID,…
Important TRID Update: Rules Revisit Coming
On Thursday, April 28, the Consumer Financial Protection Bureau (CFPB) issued a letter to mortgage industry trade groups regarding TRID compliance and the “Know Before You Owe” rule as a result of feedback received before and during the recent 2016 Mortgage Bankers Association (MBA) conference. CFPB TRID Comments Here is an excerpt from the CFPB…