Mortgage Data and Doc Processing

Four Common Sources of Doc Processing Errors and How to Overcome Them

Today’s data and doc processing solutions have evolved beyond simplistic OCR solutions to include new machine learning and searching technologies. These new, state of the art technologies, significantly expand the number of documents that can be classified and read, as well as greatly increase the number of data elements that can be extracted using automation.  Machine learning, sophisticated data extraction…

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Mortgage Compliance

Five Common MERS® eQA Plan Audit Findings

Back in July, MERS sent a reminder notification to its customers about their upcoming 2019 eQA Plan responsibilities.  During that same time, I penned a blog to help servicers begin those preparations in a timely and well-executed manner with their 3rd party provider.  Part of that guidance recommended starting the process three to four months out from the time of…

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Mortgage Industry Trends

Millennials Mortgage Process | Part 5: Emotional Closure on Initial Disclosure

Welcome back to the series, Millennials Mortgage Process! Buckle up for this post, because initial disclosures, mortgage paperwork, and loan estimates are certainly a bumpy ride. “Initial disclosures are the preliminary disclosures that must be acknowledged and signed in order to move forward with your loan application. These disclosures outline the initial terms of the mortgage application and also include federal and state required mortgage disclosures.” Initial disclosures are terrifying.…

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Mortgage Servicing Rights

Borrower Care Starts with Loan Quality

Borrower satisfaction is undoubtedly still a challenge for mortgage loan servicers.  J.D. Power reported in their Primary Mortgage Servicer Satisfaction Study that mortgage servicer ratings remained stagnant in 2018.  Furthermore, overall ratings have hovered around 758 points on a 1000-point scale for three consecutive years.[1] The first opportunity for servicers to positively influence borrower satisfaction is during the loan boarding…

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Mortgage Loan Quality

The Benefits of Automating TRID Compliance

Even though the TRID regulation will see its 4th birthday this October, we still see a lot of our blog traffic searching for this topic. It is likely because the strict penalties a misstep can cause, continues to keep originators up at night. Managing this process between multiple systems, using spreadsheets to compare fees and manual processes to compare document…

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