MetaSource Mortgage Blog

Join MetaSource in the Future at Digital Mortgage 2018

Thursday, September 06, 2018

Join MetaSource in the Future at Digital Mortgage 2018

The journey to Digital Transformation in the mortgage industry can seem like an uphill climb at times – uphill across a mountain of documents and data. And yet, technology continues to rise to the occasion, transforming mountains into rapidly moving streams of information quickly ingested and easily retrieved.

In the process, we're saving more than time: quality control is also improving, as error-prone manual processes give way to systems that can weed out duplicate documents and identify inconsistent or missing data.

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What If Your Mortgage QC Turn Time Was 35 Days?

Tuesday, July 25, 2017

What If Your Mortgage QC Turn Time Was 35 Days?

"Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you." – Carl Sandburg

We hear about mortgage file quality control (QC) turn times of 60-90 days from other QC outsourcing providers. Why does it take so long? It's usually because they're having trouble keeping up with volume, but it could be any number of reasons.

Long turn times put you in an uncomfortable position of being out of compliance with the agencies. If your vendor post closed review is at 60+ days, you have ZERO flexibility in any internal process and procedures. We've even seen many lenders recently receiving added scrutiny from HUD, as well as investors, due to unacceptable vendor time frames. 

What if your mortgage QC turn time was 35 days? What would you do with the extra time and lack of stress?

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Servicing Management Features Cover Story from MetaSource Mortgage

Friday, July 14, 2017

Servicing Management Features Cover Story from MetaSource Mortgage

The June issue of Servicing Management features the article Best Practices for Mortgage Boarding, Workflow Automation and Document Management written by Ruth Lee, our Sr. Director of Mortgage Services. Below is an excerpt of the article. Let us know if we can help you with any of the topics discussed.

Article Excerpt

A best practice is a process generally accepted as achieving superior results to alternatives. The key to that sentence is "results," which are subjective depending on your goals. Because the scope of the data and documents relied upon by servicers has blossomed in the last decade into a manually improbable challenge and the margin for error is thin, those goals today are primarily focused on proving compliance. However, business is business, and best practices have to meet the practicality test when weighed against many factors, to include sustainability and cost-effectiveness.

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MetaSource Mortgage Website Launch

Friday, September 23, 2016

MetaSource Mortgage Website Launched 

We are proud to announce the launch of the new MetaSource Mortgage website.

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emortgage QC Audit Implications

Tuesday, June 07, 2016

emortgage Offering QC Audit Implications | MetaSource

Thanks to Quicken Loan's relentless advertising, including a Super Bowl ad, everyone seems to have heard of the "emortgage" and demand is rising as a result.

Ironically, the emortgage has been around for 15 years but has been slow to be adopted in this paper-intensive industry. However, just as how Microsoft's promotion of "The Cloud" in TV ads dramatically increased usage of the term and demand for this type of software, after many years of being referred to as software as a service (SaaS), the repeated promotion of the emortgage appears to have increased demand.

Is your organization ready to offer emortgages as well as to handle both pre-fund and post-close quality control (QC) requirements?

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Trailing Document Best Practices

Monday, November 30, 2015

Trailing Document Scanning & Workflow Automation

Managing trailing documents is a daunting task and a big issue for many mortgage originators, especially those processing up to 1,000 loans per month. Most don't have a separate department to handle this paperwork, yet it's critical to make sure everything is captured so you can be compliant, deliver the final title expediently and get investors all the necessary paperwork.

An emerging best practice for managing mortgage trailing documents is to utilize mailroom/PO box scanning services and workflow automation software.

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