Skip to main content

QMS Offers Service for OCC's Required Foreclosure Audits to Prevent Improper Practices

NationalMortgageProfessional.com
Aug 03, 2011

Quality Mortgage Services LLC (QMS), a provider of mortgage quality assurance and mortgage compliance solutions nationwide, has announced that its federal regulatory and custom foreclosure audit services fulfill the requirements for foreclosure audits as outlined by the Office of the Comptroller of Currency (OCC). More than two million homeowners hit with foreclosure in 2009 and 2010 will receive letters explaining their right to an independent audit review of how they were treated during the foreclosure process. The purpose of the letter is to identify homeowners who were financially harmed due to improper foreclosure practices by their servicer. Homeowners then have the right to demand a review of their case. “This is a perfect fit for us,” said Tommy A. Duncan, president of Quality Mortgage Services LLC (QMS). “We already have the staff and software support to provide this service to mortgage servicers who will need to hire third-party auditors to review their cases.” Mortgage servicers and independent mortgage auditing firms can conduct these reviews, who will then decide whether the homeowner should be financially compensated based upon an unlawful foreclosure or excessive fees. 
Published
Aug 03, 2011
Complex Algorithms Causing Complex Compliance Issues

Complying with Reg B and ECOA on adverse action

Regulation and Compliance
Jan 27, 2023
The State Of Remote Work In Mortgage

Regulations are catching up with remote work, are you prepared?

Regulation and Compliance
Jan 27, 2023
Becoming The Interest Rate Expert

Understand the five main variable components of rate-sheet pricing and interest rates

Regulation and Compliance
Jan 27, 2023
Farm, Land, & Builder Associations Sue Over New U.S. Waters Rule

EPA, Army Corps of Engineers publish rule revision that lawsuit says goes too far.

Regulation and Compliance
Jan 23, 2023
FHFA Updates GSEs’ Single-Family Pricing Framework

New framework takes effect on May 1, but MBA asks agency to be 'flexible' with that date.

Regulation and Compliance
Jan 19, 2023
CFPB Proposes Public Registry Of Nonbank Form Contracts

Says such contracts often have terms & conditions that claim to waive or limit consumer rights.

Regulation and Compliance
Jan 16, 2023