TheMReport — News and strategies for the evolving mortgage marketplace.
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8 | TH E M R EP O RT www.fics.com ™ | 972.458.8583 Coect Today! FICS ® , WWW.FICS.COM™, LOAN PRODUCER ® , COMMERCIAL SERVICER ® and MORTGAGE SERVICER ® names and logos are registered trademarks or trademarks of FINANCIAL INDUSTRY COMPUTER SYSTEMS, INC. Loan Origination Software Mortgage Servicing Software Commercial Servicing Software Your Mortgage Software Partner When you automate with FICS' loan origination and mortgage servicing software, you'll save money through a low initial investment, nominal monthly support and maintenance fee, paperless servicing or origination, real time processing, and enhanced productivity. Save Time and Money! MTECH Standard & Poors (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securi- ties. MetaSource is one of only a small group of firms that met the assessment factors that are part of S&P's increasingly strict criteria for the list. "The rating is considered to be one of the 'gold standards' of the industry, and the fact that MetaSource has achieved it should give investors tremendous confidence in our abilities as we move further into this marketplace," said Adam Osthed, President and CEO at MetaSource. In reviewing firms to create the list, which is updated every 18 months, the S&P employs rigorous criteria, scruti- nizing such factors as loan data quality, compliance with required underwriting guidelines, property valuation, supporting technology, and regulatory compliance. As part of the process, the S&P reviewed MetaSource's proprietary web-based platform that allows for complete transparency among buyers and sellers as it completes third-party securitization-related due diligence. Through MetaSource's interactive platform, both buyers and sellers can see work happening in real-time as it is being completed, including the audit results. "We're unique in how we're able to interact with our customers and sellers through the process. We can set the level of transpar- ency a client wants based on their require- ments," said Mary Kladde, SVP of Mortgage Services at MetaSource. The platform also utilizes such technolo- gies as robotic process automation and optical character recognition to speed up turnaround times. "Some firms still rely on using Excel spreadsheets and manual processes to enter and validate data. We've automated many traditionally manual processes, and as a result, we're shortening transaction times and improving accuracy," Kladde said. "With the S&P acceptance and our abil- ity to provide complete transparency and faster transaction turnarounds, MetaSource is working to revolutionize the mortgage due diligence marketplace and setting new standards for speed, quality, and accuracy," she added. Utah-based MetaSource focuses on busi- ness process outsourcing and business pro- cess management services integrated with enterprise content management, workflow solutions, compliance services, and cus- tomer experience processes. MetaSource's mortgage services include quality control audits (pre-fund, post-close, servicing, MERS), lien release, whole loan purchase reviews, and technology services.