Quality Mortgage Services (QMS), a provider of mortgage quality control (QC) and auditing technology solutions, has announced the release of an updated version of its proprietary MARS (Mortgage Analyst Review Software) offering, a tool that provides the mortgage banking industry with an intuitive and comprehensive audit experience, complete with analytical tools and reporting capabilities. The new version allows QC professionals to comply with Fannie Mae’s latest category requirements for defects and findings.
“This is the next step in the evolution of a product that has become mission-critical software in our industry,” said Tommy Duncan, CMT, Quality Mortgage Services CEO. “We were the first MARS users and we use it to this day, so when we release an upgrade it’s because our QC personnel confirmed the need. We are now ready to support the mortgage banking industry by making this technology available to a market ready for the MARS experience.”
The improved MARS platform offers the latest agency QC requirements, as well as ATQ (Audit the QC), a tool that allows lenders to audit the quality control functions performed by QMS. MARS offers many reporting capabilities and analytical tools that empower QC professionals in making smart management decisions. The technology provides many industry reports: Defect rate, Compare/contrast reports, Risk associations, Fraud pattern, Trend charts, and more. The software supports Post-Closing, Pre-Funding and MERS audits. The MARS Portal allows users to interact through the Management Response pages.