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

• DuoKey Launches Quantum Risk Score to Help Enterprises Prioritise Post-Quantum Cryptography Migration
• Top 5 Most Reliable Used Vans in the UK in 2026
• Dominican Fashion Designer Raiza Bonaparte presents the Sovereign Despampanante Collection at the Library of Congress
• What Happens When Congress Says No? New Book Examines the Boland Amendments, Iran-Contra Affair & Jamaican Posse, as US Congress Debate Over Military
• Alvear Homes Shares Insights on Building Stronger Neighborhood Connections Across NC & SC

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

• Warm, Dry Summer Forecast Points to a Stronger Wasp and Yellowjacket Season Across the Pacific Northwest
• Qscription Technologies Appoints Anurag Velekkatt Sunil Kumar to Drive Enterprise Scale
• SafeBets Named Presenting Sponsor of IMCX 2026, Bringing Its No-Deposit Prediction Platform to the Creator Economy's Deal-Making Conference
• A New Pulse for Cardiac Care in Baltimore: St. Elizabeth Rehab & Nursing Welcomes Dr. Hakim Uqdah and Expands Advanced Heart Program
• Inframark–Slater Joint Venture Selected to Manage Fulton County Wastewater Operations

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