MERS System-to-System Reconciliation
Mortgage servicers are required to reconcile their System of Record to the Mortgage Electronic Registration Systems, Inc. (MERS®) System data monthly, or quarterly if they service fewer than 1,000 mortgage identification number (MIN) records. CrossCheck performs this system-to-system reconciliation quickly and seamlessly, ensuring all required data elements including “required and conditionally required fields” are reconciled to the MERS system. Once data extracts are provided, CrossCheck’s data engineers complete the reconciliation and provide detailed reports of the differences identified so they can be remediated.
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