For MERS members with fewer than 1000 active MINS before March 31st of the current year (CY), an internal reviewer must be assigned. A key member and role on the MERS compliance internal control team, as discussed in the prior post, he or she is responsible for completing and signing the eAnnual Report on behalf of the organization. To…
In April, Fannie Mae® launched a new series of articles dedicated to helping their sellers strengthen their core quality control (QC) governance plans. The first installment covered the importance of a well-defined and thorough Fannie Mae QC Plan. In it, they laid out eight common gaps frequently missing in QC plans they audit. Below I share all eight and how…
Spring brings a fresh perspective on many things. Some find time to grow a vegetable garden, others organize their garages or begin an outdoor fitness routine. Many of my annual audit clients are taking this time to button up internal controls around MERS compliance. In my summary of the 2021 key audit findings, I noted a general lack of…
It’s been five months since LoanLogics acquired LoanBeam, an announcement that has enabled LoanLogics to expand our portfolio of origination tools that ensure loan quality at the source. During this time, we’ve been busy working behind the scenes to integrate our teams, processes, and systems in support of the transition of two companies into one. Part of that effort included…
The topic of tax seems to be a buzz these days. The annual tax filing deadline came and went last week, but not without some noise surrounding it. In January, the Internal Revenue Service (IRS) warned delays in taxpayer refunds were likely, as the agency navigates heavy 2020 rework volume and staffing shortages. Other IRS services were also marked at risk…
Recent statistic are alerts to the industry that increased focus on loan quality control across the mortgage life cycle should be a priority in 2022. Don’t get caught sleeping on these trends. Get in the know on the “Top Trends Reawakening Attention on Loan Quality in 2022.” In this interactive infographic we showcase the following risk and opportunity areas:…
