Skip to main content

LoanLogics Develops Module to Streamline MERS Process
Jul 16, 2013

LoanLogics has developed an automated module for MERS reconciliation designed to replace the manual processes that many servicers found exposed them to unnecessary risks and were slow, expensive and inaccurate. The new module which has been developed on LoanLogics’ LoanHD platform, addressed the reconciliation of MERS data with servicing system data. “It identifies errors or inconsistencies and flags them so that they can be resolved, keeping the servicer in compliance with the MERS audit requirements and rules,” said Don Smith, product manager for LoanHD. “It generates an audit trail that is transparent to the parties and eliminates the need for servicers to manually review spread sheets to find inaccuracies.” Users of the LoanHD reconciliation module can load their data into the system and quickly compare MERS data and servicing system data in an automated fashion. That process eliminates the time consuming, expensive and error-prone manual processes that many mortgage companies or their servicers continue to rely upon. “Moreover, the platform provides a sophisticated, powerful workflow tool that enables managers to assign work to a specific team or person that is best equipped to do the work,” said Smith. “That will help ensure that discrepancies are resolved as quickly and accurately as possible. Also, bottlenecks are avoided because the professionals that are best at resolving a particular issue are assigned to handle it.” In addition, the system is easy to use and provides sophisticated reporting tools that managers can rely on to spot trends. "The system is user friendly. We are now able to itemize and work on our loan exceptions by issue,” said Melissa Ramirez, servicing oversight manager at Redwood Trust Inc. “We are also able to see the trending analysis which will help us report monthly updates to our management team." The workflow system featured in LoanHD reconciliation module has the capability to prioritize assignments, including the resolution of deficiencies, and monitor the length of time errors have persisted. Automated examination of the data delivers rapid deficiency detection, and business intelligence reporting enables deeper insight into discrepancy patterns, trends and root causes, and provides a quick view of the progress being made with respect to error remediation at a portfolio level.
Jul 16, 2013
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021
Waterstone Mortgage Names VP Of Compliance

Waterstone Mortgage Corporation named Kris Barros as the company's vice president of compliance.

Oct 08, 2021