""LoanLogics"":http://www.loanlogics.com/, a leader in loan quality management and performance analytics, announced the unveiling of its MERS Independent Third Party Performance Monitoring and Annual Review service. The specialty audit practice reviews and tests MERS controls and processes so servicers can ensure they are compliant with ""MERS"":http://www.mersinc.org/ regulations and avoid scrutiny.[IMAGE] [COLUMN_BREAK]
""Lenders have long recognized the importance MERS plays in helping save time, money and improving accuracy. At the same time, however, there is an extensive procedures manual that services have to familiarize themselves with, and that can prove to be a daunting task for many of them,"" said Gary Vandeventer, who recently joined LoanLogics as VP of loan servicing consulting after serving as VP of MERS' product division.
In addition to checking for the presence or absence of certain processes, the service evaluates how a client runs its MERS operations and examines if they can meet their required timeframes.
""We make sure the rules covering MERS have been implemented and test, and that allows our clients to feel confident that they can pass a MERS audit without any issues,"" Vandeventer said. ""That's a critical consideration in the wake of everything that has happened to the mortgage industry over the past few years.""