QMS Chosen by Top U.S. Lender for Repurchase Defense – NMP Skip to main content

QMS Chosen by Top U.S. Lender for Repurchase Defense

NationalMortgageProfessional.com
Apr 13, 2012

Quality Mortgage Services LLC (QMS) has announced that a top U.S. bank has tapped the company for quality control (QC) risk mitigation support in defense against investor repurchase claims. The institution has been faced with buy back defense challenges that persist even after working with other QC vendors in the space. “After phased testing of the technical expertise of the QMS quality control risk staff, we made the cut,” said Tommy A. Duncan, president of QMS  “QMS will collaborate with the bank’s risk staff as a force multiplier in order to neutralize the investor’s repurchases claims.” Due to the terms of the agreement, QMS could not release the name of the bank, but said that the firm had been through a number of QC repurchase defense vendors and felt it had been over charged by companies that underperformed. “I know which vendors the investors are using to comb through these files and I welcome the challenge of going head-to-head with them for the success of the bank,” said Duncan. Brentwood, Tenn.-based QMS is a mortgage loan QC audit and compliance review company that has been performing repurchase defense and writing responses to indemnification letters for mortgage bankers for 20 years.
Published
Apr 13, 2012
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021
Fed To Begin Tapering Asset Purchases by 14.3% This Month

Also sets target range for the federal funds rate at 0 to 1/4%.

Regulation and Compliance
Nov 03, 2021
CFPB Cracks Down On Discriminatory Credit Reporting For Black And Hispanic Consumers

Consumers in majority Black and Hispanic neighborhoods are far more likely to have disputes appear on their credit reports. 

Regulation and Compliance
Nov 03, 2021
CFPB Names 2 New Assistant Directors

Former Obama Administration officials will lead Supervision Policy, Enforcement divisions.

Regulation and Compliance
Oct 29, 2021
FHFA Proposes Extra Disclosure Rules For Fannie, Freddie

The proposed rule for the Enterprise Regulatory Capital Framework seeks to put Enterprises on a "level playing field" with U.S. banking requirements.

Regulation and Compliance
Oct 28, 2021