ServiceLink LoanCare Introduces MERS Reconciliation and Resolution Program for Lenders and Servicers
PITTSBURGH and RESTON, Va., June 18, 2013 /PRNewswire/ — ServiceLink, a leading end-to-end origination, servicing and default solutions provider for the top mortgage lenders and servicers, announced today from the Mortgage Electronic Registration Systems (MERS) 2013 User Conference the availability of its MERS Reconciliation and Resolution program.
Offered through LoanCare, ServiceLink’s servicing division, the program monitors and manages MERS data in order to ensure accuracy on behalf of its lender and servicer clients, ensuring that this information remains compliant with the latest industry standards by:
- Reviewing daily activity based reports for exceptions, confirming Mortgage Identification Number (MIN) status updates and taking corrective action when necessary;
- Managing all monthly portfolio analyses and reconciliation, comparing data and MIN status provided in MERS to the data and loan status in the system of record to identify variances and resolve any discrepancies;
- Providing a three-way review on newly registered loans, reviewing registration data, loan documentation and the data in the system of record to ensure data integrity across all platforms;
- Conducting root-cause analyses to help prevent future discrepancies and
- Providing audit support, including documentation preparation, execution and recordation….read more