Mortgage Loan Quality

Three Benefits of Automating MERS® Reconciliation

Without automation, monthly MERS reconciliation is an operational headache for servicers. Compliance teams are left to manually cull through thousands of MINs (Mortgage Identification Numbers), as well as format and process exceptions line by line. The result is compounding inefficiency and inaccuracy each and every month. By letting automation take the heavy lifting out of MERS compliance, Servicers can experience…

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Mortgage Industry Trends

Millennials Mortgage Process: Part 4 | Start Your (Pricing) Engines…

  Welcome back to the series, Millennials Mortgage Process! In this post, I’ll give you a glimpse into the hectic first steps of the mortgage process, and just how quickly the pre-approval process takes in today’s digital mortgage world.    My fiancé and I officially started to look at houses. We were using Zillow to find houses/townhomes/and neighborhoods that were…

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Mortgage Compliance

URLA Re-Design and ULAD…Ready When You Are

As a part of the overall standardization efforts of the government sponsored enterprise (GSEs) Fannie Mae and Freddie Mac as directed by their regulator, the Federal Housing Finance Agency (FHFA)’s Uniform Mortgage Data Program (UMDP) is the latest “U” initiative coming to market is aimed at the loan application. Everyone from the borrower, to the loan originator, quality control vendors…

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Mortgage Servicing Rights

How Automation Helps Servicers Capitalize on MSR Transfers

Driven by several economic factors, lenders who held mortgage servicing rights (MSR) in their portfolio in 2018 saw more profitability than those without, according to recent comments made by the MBA’s Vice President of Industry Analysis, Marina Walsh. In fact, servicing income more than tripled year-over-year, increasing from $64 per loan in 2017 to $203 in 2018 loan.[1] That’s the…

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Mortgage Data and Doc Processing

Managing the Mortgage Industry’s Massive Data Requirements

The data requirements needed to manufacture and decision a loan seem to be ever growing, as do regulator and investor expectations. Data is distributed across multiple document types, the loan origination system and a multitude of other sources. All this information needs to be verified and validated to ultimately come to the source of truth and support confidence in loan…

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Mortgage Loan Quality

‘Tis the Season for MERS® Quality Assurance Reviews

It’s that time of year again when Servicers should begin working with their independent third-party reviewer to complete their mandatory annual MERS quality assurance attestation. Waiting until the end of the year does not allow time for a comprehensive assessment or time to set a remediation plan in place, which jeopardizes a servicer’s compliance position. As an experienced reviewer, LoanLogics…

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