Top QC Findings Show Servicers Plagued by Missing Documents
ncarol.com/10120802

SALT LAKE CITY - ncarol.com -- Missing documents are to blame for many of the most frequent QC findings that plague mortgage servicers, a MetaSource analysis of audit results shows.

Bret Cline, Servicing QC Manager at MetaSource, a leading provider of workflow automation and compliance solutions for the mortgage industry, said many of the defects found were really cases of missing documentation, not failures to complete underlying tasks. For example, a missing flood insurance finding may have occurred due to missing flood insurance documentation rather than a missing policy.

While missing documentation was the culprit for many findings, it wasn't the only one. Due to last year's pressures of record loan volumes and pandemic-driven forbearance requests, many servicers were left scrambling to keep up. And, in turn, they struggled with loan set-up details and oversights.

More on ncarol.com

• BoatRegistrationNumbers.com Launches Next-Generation Marine Lettering, Decals and Numbers Tool
• Appliance EMT Expands Built-In and Walk-In Refrigerator Service in Metro Atlanta
• New from Regal House Publishing, Call it Madness: a missing grandfather - reclaiming a ruptured life
• LawProactive Launches SB 37-Compliant Attorney Marketing Software With Exclusive City Territories Across California
• Cogs and Marvel expands EMEA leadership team for next phase of growth

Among the most common set-up deficiencies were missing details and due dates for the payment of taxes and insurance. This is a problem that can lead to double payments and shortfalls, not to mention, damaged servicer-borrower relations.

The End of CARES Act Forbearance and Foreclosure Moratorium Could Extend Servicers' Obstacles

While the pandemic created some unprecedented obstacles, Cline cautions that servicers' difficulties are not over. When the CARES Act forbearance window ends, there could be "tens of millions of loans in foreclosure," he said. Servicers who do not improve their processes are likely to see their amount of missing documentation increase, which will further compound their obstacles to overcome.

The following are the top 3 findings identified in MetaSource's analysis, which was drawn from thousands of servicing QC audits conducted over the past year:

1. Incorrect set-up and timely premium payment of taxes, insurance and mortgage insurance
2. Missing or incomplete lien release documentation in accordance with applicable state and county guidelines
3. Failure to post mortgage payment within 24 hours of receipt

The complete list of top servicing QC findings can be found here.

More on ncarol.com

• Dave Freer's "Storm-Dragon" Wins First-Ever Prometheus Special Award For Young Adult Fiction
• T. Jones Group Celebrates Two Wins and Multiple Project Nominations at the 2026 HAVAN Awards
• Studica Robotics Supports Robotics Training Camp for WorldSkills Shanghai 2026
• Lineus Medical Renews Agreement with Vizient, Delivering Enhanced Value for Vizient Members
• Qscription Technologies Appoints Radiology Industry Veteran Elliot Silverman to Advisory Board

About MetaSource, LLC

MetaSource is a Digital Transformation Solutions provider, focused on Business Process Outsourcing (BPO) / Business Process Management (BPM) services integrated with Enterprise Content Management (ECM), workflow solutions, compliance services and customer experience processes. With offices in eight U.S. states and over 800 employees, MetaSource helps its clients manage risk, improve quality, increase efficiency and realize their most important goals – with special expertise serving the mortgage industry. MetaSource's mortgage services include quality control (QC) audits (pre-fund, post-close, servicing, MERS), lien release, whole loan purchase reviews, and cutting-edge technology. MetaSource solutions enable its clients to focus on their core business while MetaSource does the rest. More: https://mortgage.metasource.com