The Power of Outsourcing Mortgage QC Services
There are generally two ways to satisfy post-close QC requirements: you can create an internal team and processes, or you can find a reliable third-party QC partner. Creating and maintaining a robust QC solution requires commitment and resources from executive management. An underfunded and understaffed QC team creates considerable compliance risk and can end up costing you more in time, money and worry.
An experienced and reliable QC partner can be a better and more cost-effective choice. A partner like MetaSource will find and train qualified staff, keep up with evolving agency requirements and conduct the required QC processes for you, including:
- Re-verifications
- Appraisal field reviews
- Collateral risk reviews
- File reviews
- Findings reports
Utilizing a dependable post-close QC partner provides the flexibility of a variable cost, which allows a consistent alignment with mortgage volume.
Ensuring the Quality of Post-Close QC
MetaSource offers several Post Close QC reviews that are completed by experienced mortgage professionals:
- Random & Statistical Sampling Post-Close
- Discretionary Post-Close
- Early Payment Defaults
- Customized Post-Close
- Cancelled/Denied/FHA Rejected/Adverse Action
Coupled with our incredibly responsive customer service, clients are never in the dark about the status of their audits.
Not to mention, MetaSource post-close QC audits are structured to meet all relevant agency guidelines:
- Fannie Mae
- Freddie Mac
- FHA
- VA
- USDA
- CFPB
Experience Fast Turnaround Times So You Can Ensure Mortgage Compliance Today
Post close quality control turn times are a major concern for mortgage originators, and for good reason. Without fast turnarounds, originators are at risk of failing to meet GSEs’ 95-day compliance standard.
That’s why lenders turn to MetaSource. We know how critical it is for lenders like you to meet the agency timing requirement, which is why we maintain an impressive turn time of 35 days.
Our mortgage originator clients count on us to help them ensure mortgage compliance time after time. They also appreciate that our QC Audit Software, QLink, offers real-time insight into key quality control metrics, report statuses, workflow processes, and much more. We even offer a QLink integration with ICE Mortgage Technology’s Encompass®, so Encompass users can deliver loan documents for audit quicker and more easily than ever before. QLink was developed by MetaSource to help mortgage lenders like you ensure compliance.
Your Guide to Finding the Right Mortgage QC Partner
The right mortgage QC partner can help you increase efficiency, drastically reduce costs, overcome obstacles, and ensure compliance. Learn how to make the right decision in our guide!
Why MetaSource?
At MetaSource, we take pride in providing our clients a quality audit. Our audits are structured to give you in-depth feedback and analysis on your adherence to agency guidelines, with results and recommendations that will improve compliance, slash costs and even provide you with a competitive advantage in mortgage origination.
We hire seasoned and knowledgeable professionals with years of relevant mortgage experience to perform the audits. Even our experienced auditors must successfully complete testing and training prior to auditing any live production files. And, we monitor all new releases from the GSEs to immediately adapt our audit processes to new guidelines.
Frequently Asked Questions
How long does the audit take?
Our mortgage quality control audit service is fast and accurate. We consistently meet our goal of sending management reports back to our clients within 30 days of receiving the files to audit.
How easy is to transition to MetaSource?
Transitioning from another QC company or from an internal system is simple.
All we need is a short questionnaire and agreement from you, and we can get you started. After you send us your closed loan list, we’ll send you the list of loans selected for audit and the instructions to submit your files. It takes just a few minutes to set up your web folder, and then you can just drag and drop selected files into our system. If you already use a paperless document management system, we can retrieve the files directly from the system.
What if we already do our QC internally?
Some people worry that if they outsource their QC audits, their quality control employees will be put out of jobs. On the contrary, we are here to help your company, not to put your QC team out of jobs. In fact, many of our clients find that we enhance their quality control, and their QC team then helps implement the suggested improvements. Whether you want to send us all your files, just your overflow, or special projects, we can help.
Benefits of Outsourcing:
- Variable instead of fixed cost—As your volume fluctuates, you don’t need to lay off or hire any employees
- Savings in training—Capitalize on our years of expertise and up-to-date resources instead of dealing with constantly training your own audit staff
- Outside input—Have a new set of eyes to look at your files, with no conflicting interests or biases
Where can I learn more?
To request more information, a price list, or to get started, contact us, or call (888) 634-7684.