MetaSource Identifies Persistent MERS QA Challenges & Improvements in Annual Report
The comprehensive analysis reveals that inadequate QA processes continued to challenge MERS Members, taking the number one finding slot for the second consecutive year. Several reasons behind this persistent challenge are explored in the report, with the most prominent ones being failure to put a formal QA process in place and, if a process is in place, failure to structure it and/or document the steps properly.
"Many clients believe that they don't need documentation if findings aren't identified," said Tonya Martinez, MetaSource Sr. Director of Mortgage Client Services. "That's an unfortunate misconception. The reality is documentation is always required."
To address these ongoing QA process issues, MetaSource reinforced that internal QA efforts should follow the MERS eQA plan structure. The MetaSource Team also provided a record number of reporting templates to Members last year.
Despite the persistent difficulties, MetaSource found 2024 to be an overall positive year for MERS quality assurance. The improvements seen were largely attributed to increased experience among staff members responsible for QA.
“The same teams that struggled in 2023 had newfound confidence in 2024, and this experience made the difference,” explained Katherine Adams, MetaSource MERS Services Manager.
To gain insight into what drove the improvements, see the full list of compliance issues, and access MetaSource’s expert advice for ensuring compliance in the future, download the complete 2024 MERS QA Findings Report.
About MetaSource, LLC
MetaSource is a Digital Transformation Solutions provider, focused on Business Process Outsourcing (BPO) / Business Process Management (BPM) services integrated with Enterprise Content Management (ECM), workflow solutions, compliance services and customer experience processes. MetaSource helps its clients manage risk, improve quality, increase efficiency and realize their most important goals — with special expertise serving the mortgage industry. MetaSource’s mortgage services include quality control (QC) audits (pre-fund, post-close, servicing, MERS), whole loan purchase reviews, and more. MetaSource’s solutions allow clients to focus on their core business while MetaSource does the rest. For more information, visit: https://mortgage.metasource.com.
Rachelle McLure
MetaSource, LLC
+1 888-634-7684
marketing@metasource.com
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