MERS Independent Audit and Quality Assurance Review
Institutions with more than 1,000 mortgage loans registered with Mortgage Electronic Registration Systems, Inc. (MERS®) are required to have an independent third party monitor their process for obtaining, retaining, reconciling, and submitting mortgage registration data against their MERS quality assurance plans. CrossCheck has performed this role for a number of servicers, providing both the servicer and MERS with an unbiased evaluation of the servicer’s procedures for complying with MERS rules and requirements. Additionally, as servicers near the 1,000 registered loan threshold CrossCheck has assisted in developing and implementing the procedures needed to successfully meet the MERS annual requirements.
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