Tommy A. Duncan, CMT, is CEO of Quality Mortgage Services, LLC, The Mortgage QC and Auditing Technology Solutions Company. He is directly responsible for the engineering of the Mortgage Analysis Review Software called MARS that creates analytical reports for mortgage trending from mortgage loan audits. Tommy can be reached at email@example.com.
Software is not likely to replace a well-trained quality control professional, but that hasn’t prevented an increase in mortgage-technology acquisitions aimed at buying the best-automated QC system on the market.
It is late January, just days from the Mortgage Electronic Registration Systems extended deadline for submission of the Annual Report of Quality Assurance Standards Compliance report.
And yet it is unfortunate that so many mortgage servicers are scrambling to comply when there have been several announcements from MERS regarding this requirement.