Quality Mortgage Services LLC has announced that it is ready to serve the mortgage banking industry by offering a solution to complement Fannie Mae’s recent requirement to review 10 percent of loans reviewed by quality control (QC) vendors. Quality Mortgage Services is doing so by quickly ramping up its proprietary software called Mortgage Analysis Review Software or MARS, to enable the performance of these audits within the MARS portal in order to allow risk compliance officers of organizations to manage all reporting and comparisons.
“We are able to immediately respond to technology and process demands in the industry through QMiS Systems, a subsidiary of Quality Mortgage Services” said Tommy Duncan, company CEO. Because of QMiS Systems, we are better equipped to fulfill the needs of our customers in an industry that is currently experiencing many changes in regulatory and agency policy QC requirements.
The new MARS features include: Re-Underwriting Section, Red Flags check lists for various loan components, Desk Review check list, Regulatory Compliance check list, Editable Pre-Defined findings/defects, Comparison Report between audits , Standardized letters for performing re-verifications, and other customized components as requested by client.