While attending the MBA Annual Conference in Las Vegas, Tommy Duncan, CEO of Quality Mortgage Services, had the opportunity to be interviewed by Phil Hall, Lead Anchor with MNN (Mortgage News Network).
During the interview, Tommy addressed some items that are important to QC Managers:
- Through MARS technology, Mortgage Analyst Review Software, QMS is able to provide banks and lenders with a comprehensive audit methodology and results. In 2014, QMS spent a lot of time and energy reengineering MARS so that the reporting tools are compliant with Fannie Mae and other agency requirements. QMS was one of the first companies to meet the Fannie Mae Sellers Guide 2013-05 for vendor management.
- QMS is implementing the loan manufacturing and curing process in the MARS platform to reduce defect scores in the QC.
- We are building MAP (Management Action Plan) as recommended by Fannie Mae. MAP will assist QC Managers in evaluating trending and processes of the quality of a loan over a period of time.
Check out this interview to learn more about what is happening at QMS and in the mortgage banking industry in general.