LOS ANGELES, Calif., Jan 30, 2018 (SEND2PRESS NEWSWIRE) -- Subsequent QC, LLC (SQC) President Michael Steer today advised lenders to take steps to protect their Mortgage Servicing Rights (MSR) assets ahead of an anticipated increase in total mortgage servicing volume. According to the Mortgage Bankers Association, outstanding mortgage debt is expected to reach $10.4 trillion by the end of 2018, compared to $10 trillion in 2017 and $9.7 trillion in 2016.
With the increase in the number of loans to service, and lenders that lack the capabilities to service in-house, the nation's existing 10 to 15 servicers will experience an additional influx in business, making it even more critical for lenders to shore up their oversight of these entities and the assets with which they've been entrusted, Steer says.
"When volume increases, it becomes correspondingly more difficult to ensure quality on a day-to-day basis, which is why lenders need to put additional oversight in place now before volumes rise significantly," Steer said. "These are potentially 30-year assets, and to ensure lenders derive maximum benefit from owning these assets, it is imperative that they enshrine them with every level of protection possible through operational audits of their subservicer and loan-level servicing quality control reviews."
As the servicing-focused sister firm to leading mortgage risk management and compliance services firm Mortgage Quality Management and Research, LLC (MQMR), SQC offers extensive experience in servicing/subservicing operational oversight and loan-level servicing QC. Cross-educated on all areas of interest (AOIs), SQC auditors are trained to recognize issues indicative of process failures, coaching opportunities, trending and mitigating corporate expenditures - all of which enable lenders to effectively manage and protect their servicing assets.
"SQC strives to provide a holistic approach to servicing oversight and loan-level QC that bridges the gap between servicing compliance and risk," Steer said. "To that end, our
auditors are trained to go beyond 'checking the box' and investigate the root cause of issues to ensure issues are addressed at ground zero."
For more information about Subsequent QC services, go to http://subsequentqc.com/ or send an email to: firstname.lastname@example.org.
For MBA Servicing Attendees:
MQMR/Subsequent QC executives are attending the MBA's National Mortgage Servicing Conference & Expo 2018, February 6 - 9 at the Gaylord Texan, Grapevine, Texas. If you'd like to set up a meeting about our Servicing QC services, or other MQMR/Subsequent QC services, drop an email to Info@MQMResearch.com.
About Subsequent QC:
Subsequent QC, LLC ("SQC") is a premier provider of Servicing Quality Control audit solutions for mortgage lenders and servicers. With extensive experience in servicing quality control and servicing operational due diligence, we focus exclusively on managing servicing risk for our clients. SQC is the partner of choice for bridging the gap between servicing compliance and risk.
About Mortgage Quality Management and Research, LLC (MQMR):
MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 1,500+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader throughout the entire life cycle of the loan.
MQMR is viewed as an industry leader in counterparty risk and compliance. To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.
News Source: Mortgage Quality Management and Research LLC
Related link: http://www.mqmresearch.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire.
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