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MERS® AUDITS

This audit review is tailored to meet servicing records and servicing data guidelines and policies. The MERS® QC is a validation process of data between multiple platforms that retains such as a servicer and the Mortgage Electronic Registry Systems. Synchronizing this data is an industry challenge when data errors and data set standards prevent data integrity and data continuity. In these reviews the fusion of data produces the data intelligence that may be of particular concern to bankers who carry the responsibility for the soundness of their portfolios.

QC Verify offers servicers a specialized audit that targets information reported to the Mortgage Electronic Registration System (MERS®).  

MERS® Compliance Review – QC Verify provides servicers a specialized audit that targets information reported to the Mortgage Electronic Registration System (MERS®.)  Ensure compliant registration, payee designation, mortgagee data, tracking and reporting of Mortgage Identification Number (MIN) and other required data for mortgages with MERS® as nominee for mortgagee. 

The QC Verify MERS® Audit Software (MAS), powered by MARS technology, performs data compare and contrast functions from servicing/origination software against the MERS® data to ensure data integrity. Additionally, the MAS quality assurance report provides servicers the ability to target data inconsistencies and offers a tool to assist in data correction. Areas not addressed in the data reconciliation are subject to an in-depth review, yielding a thorough end product.

As the mortgage banking industry expands its capacity to leverage data, systems such as QC Verify and MERS® will continue to play a vital role in the future of regulatory compliance and technical innovation.

QC Verify MERS® audit solutions offer the following services:

  • Data Reconciliation

  • MERS® as Original Mortgagee (MOM) & Non-MOM Loan Registration

  • Data Integrity Checks for Promissory Note/Security Instrument 

  • Transfers of Servicing and/or Beneficial Rights

  • Paid-offs, Foreclosures, Bankruptcies

  • Data Review Support

  • Annual Attestations

  • Software Leasing 

  • MERS® QC Plans and Audits

  • MIN Tracking and Reporting

  • eRegistry Reconciliation