Pre-fund and post-close audits have unique needs based on how lenders use them in their origination processes. The same is true for servicers and their servicing QC audits. Speed, customization and flexibility are much needed factors when implementing a quality control process.
Some lenders and servicers can get by with industry audit turn times while others need their audits completed in hours or even minutes. Most lenders and servicers do not have the capacity to staff a full QC department to meet all the variable needs of pre-fund, post-close and servicing audits. For those who do, MetaSource built QReview to satisfy these needs and provide greater flexibility.
What is QReview?
QReview is web-based mortgage QC audit software that allows lenders and servicers to use their staff to audit pre-fund, post-close and servicing files in the specific time frames needed. It’s embedded in QLinkTM, MetaSource’s web-based QC analytics platform, which means that all audit data and metrics remain in a singular location.
Lenders and servicers can conduct their own pre-fund, post-close and servicing audits and outsource others to MetaSource simultaneously and on one platform. Regardless of who completes the audits, all post-close, servicing, and pre-fund data, reporting, and trending are located in the same place.
QReview even allows clients to use existing pre-fund, post-close and servicing checklists that are continually updated by MetaSource. QReview also lets clients add their specific questions to the existing question set or use their own existing audit checklists.
What Benefits Does it Offer?
QReview is a highly flexible system that offers several benefits, including:
- Optimal visibility with all QC findings located in one place
- Enhanced audit accessibility with a web-based platform
- Extensive reporting and trending capabilities
- Full control over audits with the ability to split responsibility
- Customizable checklists and question sets to meet unique client needs
Speed is the name of the game in mortgage quality control audits, and QReview is designed for efficiency from start to finish. Set up is quick and there is no software to download. Creating a loan is easy via a bulk upload of data or via a FNMA 3.2 file. Not to mention, QReview is built on MetaSource’s powerful QLink platform.