Author Archives: Mortgage Quality Management and Research LLC

MQMR Adds Mortgage-Focused Social Media Monitoring Platform

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that it has added ActiveComply, a social media monitoring platform, to its suite of audit, risk and compliance-focused solutions for financial institutions and independent mortgage lenders.

The platform, which is offered through a partnership agreement with the platform's developer and namesake, provides lenders with the ability and agility to proactively manage, monitor and extend their companies' social media reach while maintaining compliance with financial marketing and records retention regulations.

"Social media has become a ubiquitous component of today's marketing strategies for loan officers and mortgage companies, so much so that lenders need more comprehensive tools for monitoring social media compliance than simply 'the eyeball test,'" said MQMR President Michael Steer. "Because MQMR's compliance team has conducted thousands of marketing compliance reviews, which include social media content, we are keenly aware of the challenge lenders face in this regard, and by providing an automated solution for monitoring, we are not only expanding our clients' compliance coverage, but also providing them with valuable peace of mind."

The ActiveComply platform can be configured to reflect the user's unique corporate social media policy specifications and offers a simple user interface and one-touch executive reporting capabilities, as well as notifications sent to a company's in-house compliance team with flagged content for review. Available functionality includes but is not limited to: discovery and continuous monitoring of company and loan officer social media accounts and websites, detection of unauthorized online activity, identification of missing compliance requirements and archival of online contents to meet regulatory record retention requirements.

For more information or to schedule a demo with MQMR, visit https://www.mqmresearch.com/services/social-media-compliance-marketing/.

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

*LOGO for Media: https://www.Send2Press.com/300dpi/18-0118s2p-MQMR-logo-300dpi.jpg

Mortgage Quality Management and Research, LLC (MQMR) announced today that it has added ActiveComply, a social media monitoring platform, to its suite of audit, risk and compliance-focused solutions for financial institutions and independent mortgage lenders.

Related link: https://www.mqmresearch.com/

MQMR Promotes Mabel Lee to Head of Warehouse Due Diligence, Adds Scott Weintraub to Lead Internal Audit Department

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that it has promoted Mabel Lee to Warehouse Due Diligence Manager and hired Scott Weintraub as Internal Audit Manager.

"One of the main reasons mortgage lenders turn to MQMR to help them address their audit, risk and compliance needs is the depth of knowledge our team possesses," said MQMR President Michael Steer. "MQMR is privileged to have two highly skilled professionals in Mabel Lee and Scott Weintraub on our team to help guide our clients through these challenging times and bridge the gap between risk and compliance."

As Warehouse Due Diligence Manager, Lee oversees MQMR's skilled team of operations risk managers, who perform due diligence reviews and special projects. Lee first joined MQMR as Internal Audit Manager in June 2018, bringing more than 30 years of experience in risk management, credit, quality control, underwriting and project standards.

Lee previously served as a Customer Account Risk Manager, Credit Risk Manager and Quality Control Manager at Fannie Mae and as a Customer Performance Analysis Supervisor and Senior Mortgage Analyst for Freddie Mac. She holds an Executive Master of Business Administration degree from Claremont Graduate University and a Bachelor of Science degree in business administration from San Francisco State University.

Having served as Chief Compliance Officer for several large mortgage lenders in both retail and wholesale mortgage lending channels, Weintraub possesses more than 20 years of experience in legal and regulatory compliance, internal audit management and organizational risk management. In his role as Internal Audit Manager, he oversees a team of experienced internal auditors, whose mission is to assist mortgage lending clients by identifying areas of operational and compliance risk.

Weintraub is a sought-after speaker and thought leader and has appeared on panels at several industry conferences, including the MBA's Regulatory Compliance and Secondary Market conferences. He holds a Juris Doctor degree from George Washington University School of Law and a Bachelor of Arts degree in political science from Stanford University.

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR) announced today that it has promoted Mabel Lee to Warehouse Due Diligence Manager and hired Scott Weintraub as Internal Audit Manager.

Related link: https://www.mqmresearch.com/

MQMR: FNMA Updates to Selling Guide Compels Lenders to Conduct Independent Audit Reviews of QC Process Before Year’s End

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer reminded lenders to conduct an independent audit review of their quality control (QC) process immediately in deference to updates to "Subpart D1, Lender QC Process" of the Fannie Mae Selling Guide.

Among other changes, Fannie Mae made explicit its requirements for independently auditing QC processes, which must be included in seller/servicers' QC plan and implemented by January 1, 2020:

* The lender must have an independent audit process to ensure that its QC process and procedures are followed by the QC staff, and that assessments and conclusions are recorded and consistently applied. The findings must be accurately recorded and consistent with the defects noted in the lender's system of record.

* Results of the QC audit must be distributed to senior management. It must include an affirmative statement that no influence from other business units or bias in the QC conclusions was apparent. Management must distribute the results to the appropriate areas within the organization and an action plan must be established for remediation or changes to policies or processes, if appropriate. The lender must provide a copy of the QC audits and the audit of the QC process to Fannie Mae upon request.

"Regulators have been and are increasingly requiring lenders to build a firewall between the review/audit function and the processes and departments under said review and provide evidence that such a firewall exists. With both monetary and labor resources at a premium, this can be a tall order for a lender to achieve internally," said Steer. "Outsourcing this function to an experienced third party helps ease the financial and personnel burdens of meeting these kinds of changes, especially when given a narrow window for compliance like Fannie Mae has done here."

"Unofficially, we're also hearing that lenders that have not performed an audit of their QC function within the last two years will be cited for this oversight in their next MORA exam so lenders would be well advised to complete this audit as soon as possible," Steer said. "With January 1, 2020 right around the corner, lenders are focusing their efforts today on volume, end-of-year MERS audits, financial audits and 2020 strategic planning. Thus, it makes sense for Fannie Mae seller/servicers to partner with MQMR, the industry leader for internal audit, to perform an audit of the lenders' QC functions to meet these new requirements."

For more information on Fannie Mae's requirements for independent QC process audits, read MQMR's free compliance newsletter, "FAQ: FNMA Update - It's All About the Independence!"

About Mortgage Quality Management and Research, LLC:

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer reminded lenders to conduct an independent audit review of their quality control (QC) process immediately in deference to updates to "Subpart D1, Lender QC Process" of the Fannie Mae Selling Guide.

Related link: https://www.mqmresearch.com/

MQMR Bolsters Executive Team with Addition of Mortgage Industry Veteran Stephen Sherman as COO

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that seasoned mortgage and real estate professional Stephen Sherman has joined the firm as Chief Operating Officer. Sherman brings more than 30 years of experience in mortgage servicing, secondary marketing, warehouse lending, commercial real estate sales, corporate consulting and REO management services to his new role at MQMR, where he will be responsible for overseeing MQMR's day-to-day operations and managing the firm's long-term growth strategy.

"Helping our clients succeed in today's challenging mortgage environment is Priority No. 1 at MQMR, and doing so requires us to consistently produce best-in-class services and deliverables to ensure our clients can adequately address risk within their organizations - wherever it may lie," said MQMR President Michael Steer. "Having provided similar services to mortgage companies throughout his career, Stephen Sherman brings an intimate knowledge of the core services MQMR provides and is uniquely qualified to help us continually refine our internal processes and systems to achieve our desired service levels and outcomes."

Prior to joining MQMR, Sherman founded Sherman Consulting, a mortgage and real estate consulting firm that specialized in providing managerial coaching, risk assessment reviews and process improvement plans. A serial entrepreneur, he also co-founded Blueprint Asset Management, an REO asset management service dedicated to managing and liquidating high-value real estate. In addition, Sherman also formed and served as Chief Operating Officer of Green River Financial and Infinity Valuation Services, two sister companies of leading real estate service provider Green River Capital LC, a subsidiary of Radian Group, Inc. When not serving in permanent roles, Sherman also provided contracting services as an auditor in due diligence reviews to investors of bulk loan purchases.

"Accepting the role of COO was an easy decision after having worked with the incredible talent at MQMR and witnessed the priority placed on delivering meaningful results to clients and the firm's family-focused, supportive culture," Sherman said. "Moving forward, my goals as COO are very simple - support our internal divisions by advocating for the necessary resources, tools and training to deliver best-in-class service to our clients; infuse MQMR's corporate mission statement, vision statement and core values in the day-to-day operations of the company; and maintain alignment between internal operations and the needs of our current clients and prospects by working seamlessly with our sales team."

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR) announced today that seasoned mortgage and real estate professional Stephen Sherman has joined the firm as Chief Operating Officer. Sherman brings more than 30 years of experience in mortgage servicing, secondary marketing, warehouse lending, commercial real estate sales, corporate consulting and REO management services to his new role at MQMR, where he will be responsible for overseeing MQMR's day-to-day operations and managing the firm's long-term growth strategy.

Related link: https://www.mqmresearch.com/

MQMR’s Marie O’Brien Named 2019 HousingWire Rising Star

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that its Director of Compliance Marie O'Brien has been recognized by HousingWire magazine in its sixth annual HW Rising Star Awards(TM) program. O'Brien also serves as a Senior Associate in the Compliance Department of Abrams Garfinkel Margolis Bergson, LLP and as MQMR's Associate General Counsel.

O'Brien was recognized as a Rising Star for helping MQMR build out its mortgage compliance platform and offering, which includes AML audits, monthly compliance services on demand, comprehensive compliance audits, development of mortgage compliance policies and procedures and advertising and marketing compliance reviews.

"Mortgage compliance is one of MQMR's primary areas of focus, and thanks to Marie O'Brien's considerable expertise, MQMR's reputation as the industry partner of choice for compliance advice and guidance is second to none," said MQMR President Michael Steer. "We're extremely lucky to have Marie as part of our best-in-class compliance team, and on behalf of the entire company, I would like to congratulate her for receiving this well-deserved honor."

As the magazine noted in its profile on O'Brien:

In her roles at MQMR and AGMB, O'Brien provides mission-critical compliance advice and guidance to mortgage lenders and brokers of all sizes on a variety of federal and state compliance, transactional and litigation matters including RESPA, Regulation Z, Regulation X, Truth in Lending Act, Fair Lending Act, Dodd Frank, loan officer compensation, predatory lending, disclosures, high-cost limitations and licensing.

The HW Rising Star awards recognize the innovative talent in individuals under the age of 40 that is propelling our industry forward. The 50 winners represent a variety of occupations within the housing industry, but all of them demonstrate leadership and innovation that inspire not only those within their own organizations, but also in their communities and in the industry at large. The 2019 Rising Stars were chosen by HousingWire's editorial board based on tangible accomplishments in the last 12 months.

"I am grateful for the recognition and for the opportunity to be a part of the MQMR team, which is made up of so many bright and dedicated individuals," said O'Brien. "MQMR cultivates an environment that breeds success both professionally and personally. It's exciting to see our work make a difference in this industry."

"This year's group of Rising Stars represents a rising generation of strong, innovative and motivated leaders taking the mortgage industry by storm. Each of these individuals has accomplished a great deal, but we believe they are still at the early stages of their ultimate impact on the housing economy," said Clayton Collins, CEO of HousingWire.

For the full list of this year's honorees, visit https://www.housingwire.com/articles/49144-housingwires-class-of-2019-rising-stars.

About HW Media
HW Media is the leading digital community for real estate, financial services and fintech professionals to engage, connect and gain knowledge. Founded in 2016 through the acquisition of HousingWire, HW Media is based in Dallas, TX with team members across the country. HW Media is owned by Riomar Capital.

About HousingWire
HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 40,000 newsletter subscribers daily and over 4 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit https://www.housingwire.com or https://www.solutions.housingwire.com to learn more.

About Mortgage Quality Management and Research, LLC
MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit https://www.mqmresearch.com, https://www.subsequentqc.com, and https://hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR) announced today that its Director of Compliance Marie O'Brien has been recognized by HousingWire magazine in its sixth annual HW Rising Star Awards program. O'Brien also serves as a Senior Associate in the Compliance Department of Abrams Garfinkel Margolis Bergson, LLP and as MQMR's Associate General Counsel.

Related link: https://www.mqmresearch.com/

MQMR Hires Mortgage Compliance Executive Jeff Christensen as Vice President of Sales

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that it has hired Jeff Christensen as Vice President of Sales. In this role, Christensen will be responsible for leading sales, driving new business opportunities and expanding awareness of the MQMR brand in the market.

"Compliance is one of the main core competencies upon which MQMR hangs its hat, and to have someone that has been as deeply immersed in mortgage compliance as Jeff Christensen is a tremendous win for our organization," MQMR President Michael Steer said. "It took me more than two years and countless interviews to find the right fit for our unique corporate culture, and I look forward to seeing the next phase of MQMR's growth with such a talented and knowledgeable individual like Jeff leading the way."

Christensen brings more than 10 years of mortgage compliance experience to MQMR, having served as both the Chief Financial Officer and Chief Executive Officer of Mortgage Compliance Advisors (MCA), of which he was a founding member in 2008. MCA was a residential mortgage outsource provider for quality control and risk management solutions with more than 400 clients. When MCA was acquired in 2014, Christensen worked with the executive team to continue to improve and grow the combined business.

"I've known Mike Steer for years and have always been impressed with the solutions MQMR provides and the manner in which MQMR services its customers," Christensen said. "When the opportunity to join the firm presented itself, the decision was an easy one to make - especially when one considers the company's reputation for client-focused service and industry-leading expertise in mortgage compliance, audit and risk management - and I look forward to helping the firm reach its next stage of growth while delivering invaluable services to the mortgage industry."

Christensen holds a Bachelor of Arts in Accounting and a Master of Professional Accountancy from the University of Utah.

About Mortgage Quality Management and Research, LLC:

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit https://www.mqmresearch.com/, https://subsequentqc.com/, and https://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR) announced today that it has hired Jeff Christensen as Vice President of Sales. In this role, Christensen will be responsible for leading sales, driving new business opportunities and expanding awareness of the MQMR brand in the market.

Related link: https://www.mqmresearch.com/

MQMR’s Britt Haven Receives Achievement Certification from the MBA’s Certified Mortgage Compliance Professional Program

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that its National Account Executive Britt Haven has completed Level I of the Certified Mortgage Compliance Professional (CMCP) Certification and Designation program offered by the Mortgage Bankers Association (MBA). The MBA first announced the availability of Level I in April 2018. Haven is one of the earliest to complete Level I and earn the Achievement Certification.

"MQMR's vision is to be the mortgage industry partner of choice for audit, risk and compliance services, and as such, we are committed to ensuring our entire staff possesses as much industry knowledge and expertise as possible - sales team included," MQMR President Michael Steer said. "The MBA's CMCP designation serves as an indicator to the industry of an individual's level of commitment to upholding the highest standards of compliance and loan quality, and I commend Britt for taking the initiative to pursue this highly valuable and prestigious certification."

According to the MBA, the CMCP designation, "recognizes the achievements of individuals...Upon completion of this program, participants will be recognized as a highly trained compliance professional." The Level I program, which is designed for mortgage compliance professionals with two years of experience or less, includes 18 courses, with 30 hours of self-paced training. Levels II and III are still under development and must be completed in order to earn the full CMCP designation.

"Because mortgage compliance is one of MQMR's core competencies, I saw this as an opportunity to expand my understanding of this area so that I could recommend more effective, customized compliance and audit solutions to address lenders' specific pain points," said Haven. "Despite being categorized as entry-level, the Level I program provided a comprehensive, foundational understanding of mortgage compliance rules and regulations, and has inspired me to not only complete the CMCP program, but also to pursue other MBA-sponsored accreditations, such as the Certified Mortgage Banker designation, to ensure I am able to deliver maximum value to our clients."

About Mortgage Quality Management and Research, LLC:

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements.

With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry's partner of choice for audit, counterparty risk and compliance.

To learn more, visit https://www.mqmresearch.com/, https://subsequentqc.com/, and https://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR) announced today that its National Account Executive Britt Haven has completed Level I of the Certified Mortgage Compliance Professional (CMCP) Certification and Designation program offered by the Mortgage Bankers Association (MBA).

Related link: https://www.mqmresearch.com/

MQMR President Michael Steer Named Mortgage Industry ‘Vanguard’ by HousingWire Magazine

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) announced today that its President Michael Steer has been recognized by HousingWire magazine in its fourth annual HW Vanguard Awards(TM) program. Steer was honored for his efforts in building a diverse workforce and establishing a strong corporate culture that values employee feedback and community service.

As the magazine noted in its profile on Steer:
Steer...believes in a "hire the best" philosophy, a method that's led the company to hire from different age ranges and backgrounds...Nearly 80% of MQMR's workforce is female, and more than a third are minorities. Additionally, the age range of the company's employees stretches from 21 to 63...This year, Steer implemented Officevibe, an internal, anonymous survey platform, to allow MQMR employees to provide direct and honest feedback on the organization and offer suggestions on how the work environment can be improved...Additionally, Steer led the charge on MQMR's philanthropic efforts this year, which include a volunteer day at Camp Impact, a camp for underprivileged children, and the company's internal "MQMR Goes Pink for Breast Cancer Awareness" campaign.

The HW Vanguard awards recognize individuals who have made vital contributions to their company, as evidenced by expanding products and services that are changing the industry. This year, 52 winners were chosen, many of whom are founders or co-founders of their businesses. The 2018 Vanguards were chosen by HousingWire's editorial board based on their accomplishments in 2018 in both their companies and the industry sector they represent.

"As the Vanguards award program continues to grow and to be more successful, the entry point gets tighter," said Jacob Gaffney, HousingWire Editor-in-Chief. "These winners are truly the best Vanguards in the mortgage finance industry, and they all deserve the highest honor in the space."

HousingWire asks each of the Vanguard winners to reflect on practices or advice that have led to their success, leading Steer to highlight the quality of employees at MQMR.

"Constant education, professional development and growth - there is always something, or someone, you can learn from, which is why you should always surround yourself with people smarter than you and to hire the best available," Steer said. "Not only are you bound to build a team that challenges and motivates you, but I've also found that diversity naturally flows from this strategy, which further helps create a dynamic work environment that promotes constant learning and growth both personally and professionally."

For the full list of this year's honorees, visit https://www.housingwire.com/articles/47526-meet-the-2018-hw-vanguard-award-winners.

About HW Media:
HW Media is the leading digital community for real estate, financial services and fintech professionals to engage, connect and gain knowledge. Founded in 2016 through the acquisition of HousingWire, HW Media is based in Dallas, TX with team members across the country. HW Media is owned by Riomar Capital.

About HousingWire:
HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 40,000 newsletter subscribers daily and over 4 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit https://www.housingwire.com or https://www.solutions.housingwire.com to learn more.

About Mortgage Quality Management and Research, LLC (MQMR):
MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance. To learn more, visit https://www.mqmresearch.com/, https://subsequentqc.com/, and https://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR) announced today that its President Michael Steer has been recognized by HousingWire magazine in its fourth annual 2018 HW Vanguard Awards(TM) program. Steer was honored for his efforts in building a diverse workforce and establishing a strong corporate culture that values employee feedback and community service.

Related link: https://www.mqmresearch.com/

MQMR: Mortgage Industry Margin Compression Calls for Fixed-Cost Approach to Compliance Support

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer today advised lenders to adopt a fixed-cost approach to compliance support in the face of margin compression and declining per-loan profits. By investing in a fixed-cost solution for compliance, lenders can better manage their monthly expenses while ensuring they remain compliant, thus avoiding potential financial penalties associated with non-compliance.

"When internal compliance resources aren't enough, lenders often engage in a one-off relationship with an attorney or other third-party advisory firm specializing in mortgage compliance to address a specific question or issue," Steer said. "Not only is this approach more costly, but it can also expose the lender to unanticipated risk due to the natural delay caused by getting the third-party firm up-to-speed once the contract has been signed. Engaging in a more long-term relationship provides better cost savings and ensures lenders have access to the compliance advice and support they need when they absolutely need it."

To this end, MQMR created its Monthly Compliance On Demand Support program to provide a more cost-effective solution for addressing lenders' ongoing compliance needs. For a flat monthly fee, lenders have discretionary access to MQMR's team of compliance experts to address any compliance questions or concerns.

In addition, MQMR can assist lenders with a range of other compliance needs, including:

* Guidance on federal, state and loan-level questions;
* Development and review of policies and procedures;
* Reviews of advertising and marketing materials, including websites;
* Creation of a Compliance Management System (CMS);
* State examination assistance;
* Advice on loan originator compensation; and
* Recommendations on overall best practices.

"When a lender has an urgent compliance question, their first thought should not be, 'How much is it going to cost me to get this answered?'" Steer noted. "Charging by the minute or the hour may work in some instances, but in today's challenging mortgage environment, lenders simply cannot afford to incur these types of unanticipated expenses. With the fixed-cost approach MQMR provides, lenders rest easy knowing compliance advice and support is only a phone call or email away and that they'll never have to question picking up the phone to get an answer. This is why so many of the nation's top lenders have partnered with MQMR to make it through these challenging times."

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, https://subsequentqc.com/, and https://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer today advised lenders to adopt a fixed-cost approach to compliance support in the face of margin compression and declining per-loan profits. By investing in a fixed-cost solution for compliance, lenders can better manage their monthly expenses while ensuring they remain compliant, thus avoiding potential financial penalties associated with non-compliance.

Related link: http://www.mqmresearch.com/

MQMR’s Steven Sinn Wins 2018 HousingWire Insiders Award

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that director of administration Steven Sinn has been named a 2018 Insiders Award(TM) honoree by HousingWire (HW) magazine.

"This year's group of Insiders exemplify what it means to get the job done and done right," said HW Online Editor Caroline Basile. "Each of the mortgage and housing professionals we honored made incredible contributions to their companies' successes and we're excited to recognize their achievements."

"Steve is the epitome of a dedicated employee, contributing in all aspects of the business and filling in whenever and wherever he's needed," said MQMR President Michael Steer. "He not only delivers excellence in everything he does, but he also brings out the best in those around him, elevating the personal and professional development of his fellow employees. We included the word 'quality' in our company name for a reason, and no one on our staff embodies that value more than Steve."

Sinn was recognized for his role in helping MQMR achieve its growth objectives by keeping his fingers on the pulse of all aspects of the organization and jumping in as needed to perform a variety of functions. He was instrumental in restructuring MQMR's internal audit department to streamline process workflow and reduce the time it takes to complete a client engagement. In addition to improving MQMR's client-facing operations, Sinn ensures the smooth performance of back-office operations.

"I'm honored to appear on this year's list of Insiders Award honorees," said Sinn. "Whether it's boosting the company's insurance coverage, providing client support, performing training, enhancing operational processes or conducting office lease negotiations, my top priority is ensuring the health, longevity and success of MQMR."

Now in its third year, HW's Insiders Award program recognizes "people who are often their company's best-kept secret: the one person known within the company as a critical part of that company's success, but who may or may not be as well known throughout the larger industry."

Honorees are profiled in the September issue of HW magazine. To view all of this year's Insiders Award winners, visit https://www.housingwire.com/articles/46713-hw-insiders-2018.

About HousingWire:
HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 40,000 newsletter subscribers daily and over 4 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit www.HousingWire.com or www.solutions.housingwire.com to learn more.

About Mortgage Quality Management and Research, LLC (MQMR):
MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that director of administration Steven Sinn has been named a 2018 Insiders Award(TM) honoree by HousingWire (HW) magazine.

Related link: http://www.mqmresearch.com/

MQMR’s Erin Harris Recognized by Mortgage Professional America as One of Its ‘2018 Elite Women in Mortgage’

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that Erin Harris, manager of MQMR's vendor management division HQ Vendor Management, has been named by industry trade magazine Mortgage Professional America (MPA) as a 2018 Elite Women in Mortgage honoree.

"Vendor management is a regulatory imperative, a must-have from the investor perspective, and, above all, just good business sense, and nobody knows vendor management quite like Erin," said MQMR President Michael Steer. "We commend Erin for her enormous contributions to HQVM and for being named to MPA's 2018 Elite Women in Mortgage."

Harris was honored for her role as a manager at HQVM, where she is a leader among a team of highly skilled vendor management experts delivering one of the most comprehensive, vendor management solutions tailored specifically for the mortgage industry. Much of Harris' success can be attributed to her leadership and customer service skills, which has created raving fans among HQVM's customers.

Additionally, Harris was recognized for her efforts beyond the walls of HQVM. She was recently selected to participate in the Mortgage Bankers Association's Future Leaders program to further refine her management and leadership skills and, in the past, has served on the Community Mortgage Lenders Association's Compliance Council. Harris also sits on the Board of Directors for Miriam's Promise, a Nashville-based nonprofit, has previously served as a Wish Granter for the Make-a-Wish Foundation, and has been heavily involved in assisting refugees relocating to her hometown of Nashville, Tenn.

"I'm so pleased to have been included in this year's Elite Women in Mortgage," Harris said. "Whether it's in a professional or a personal capacity, I strive to always do my best and deliver value. Having those efforts recognized by my peers is truly an honor."

Now in its fifth year, MPA's Elite Women in Mortgage award program recognizes women influencing the American mortgage industry and inspiring success among their colleagues. Awardees are peer-nominated and come from all walks of the home-lending economy.

To see Harris' profile or view the full list of this year's Elite Women in Mortgage honorees, visit https://www.mpamag.com/contents/e-magazine.aspx?id=107049.

About Mortgage Professional America:

A publication of Key Media, Mortgage Professional America (MPA) delivers news, opinion and analysis to mortgage, real estate and finance industry professionals through its bi-monthly magazine and daily email newsletter. For more information, visit http://www.mpamag.com/.

About HQ Vendor Management, LLC (HQVM):

HQ Vendor Management, LLC (HQVM) is a dba of MQMR founded in 2014 to deliver a holistic, cost-effective and customizable vendor management solution to meet third-party oversight requirements. HQVM's mission is to strategically manage vendors to maximize an organization's investment in outsourcing. Leveraging software automation to streamline work flow management and serve as a centralized repository, HQVM works with each client to create a customizable solution that aligns with the lender's current business model and risk appetite. HQVM's experienced team includes credit analysts, financial analysts, attorneys and auditors whose collective skills and expertise establish a unique platform to audit vendors and assess risk. To learn more, visit http://hqvendormanagement.com/.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance. To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that Erin Harris, manager of MQMR's vendor management division HQ Vendor Management, has been named by industry trade magazine Mortgage Professional America (MPA) as a 2018 Elite Women in Mortgage honoree.

Related link: http://www.mqmresearch.com/

Mortgage Risk Management Firm MQMR Continues Corporate Philanthropy Efforts through Volunteer Day at Camp Impact

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, recently completed a volunteer day at Camp Impact as part of its on-going corporate commitment to community service. Camp Impact offers free summer camps to homeless and underprivileged youth in the Arlington and Grand Prairie, Texas, communities.

"Because MQMR serves the residential finance industry, we play an indirect role in helping millions achieve the dream of homeownership, but it is equally important for us to help those that haven't yet achieved this dream, especially when it involves such a vulnerable part of the population like children," said MQMR President Michael Steer. "For that reason, the decision to include Camp Impact as a part of our corporate volunteer efforts was an easy one to make."

As part of the volunteer day, MQMR staff took campers skating and organized arts and crafts projects, including an exercise where the campers constructed dream catchers and wrote a letter to their future self about what they wanted to be when they grew up.

"Camp Impact was founded in 1996 by an Arlington youth group by the name of ARFTY to provide underprivileged children with an escape to enjoy summer camp, and what we've achieved would not have been possible without the help of organizations like MQMR that generously give of their time to help us provide these campers with an amazing experience," Lance Friedensohn, Director of Camp Impact, said. "Some of our counselors are former campers so we get to see first-hand how our program really does change the lives of these kids."

"As a service-oriented firm, 'giving back' is an intrinsic part of our corporate philosophy and mission," Steer said. "Participating in philanthropic efforts, like the volunteer day with Camp Impact, not only helps reinforce this, but it also provides our team an opportunity to grow in ways outside the scope of our day-to-day corporate efforts."

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements.

With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, recently completed a volunteer day at Camp Impact as part of its on-going corporate commitment to community service. Camp Impact offers free summer camps to homeless and underprivileged youth in the Arlington and Grand Prairie, Texas, communities.

Related link: http://www.mqmresearch.com/

Subsequent QC’s Nick Corpuz Honored as 2018 HW Rising Star

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that Nicholas Corpuz, Vice President of MQMR servicing-focused sister firm Subsequent QC (SQC), has been honored by HousingWire magazine as a 2018 Rising Star. Corpuz was profiled in the June issue of HousingWire.

"This year's Rising Stars list represents the only independent award for young professionals in the mortgage space," said Jacob Gaffney, editor-in-chief of HousingWire. "It's a comprehensive snapshot of who's who in our business and the most impressive list to date."

"Since joining SQC four years ago, Nicholas has played a critical role helping our clients manage their servicing risk through the development of our servicing QC platform de novo and the execution of our servicer and sub-servicer reviews," said SQC President Michael Steer. "We're very proud to have Nicholas on our team and congratulate him for being honored as a HousingWire Rising Star."

Now 12 years into his mortgage career, Corpuz has developed a reputation as a subject matter expert in loan quality control and specializes in servicing compliance applications of Consumer Financial Protection Bureau (CFPB) regulatory oversight and federal lending industry legislation including the Truth In Lending Act (TILA), Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), Fair Lending Act and Real Estate Settlement Procedures Act (RESPA). He is a graduate of the California Mortgage Bankers Association (CMBA) Future Leaders Program and a frequent panelist at mortgage banking conferences.

When asked by the publication what the best piece of advice he ever received is, Corpuz responded, "My mother, Carla Corpuz, was an underwriter for Fannie Mae. Early on in her career, her advice to me was, 'Stick with it.'"

The HousingWire Rising Stars award program is now in its fifth year of recognizing mortgage professionals under the age of 40 who are demonstrated leaders shaping the future of the industry. Awardees come from all areas in the housing economy and are selected by the editors of HousingWire for exerting influence in their areas of expertise and contributing to the advancement of the mortgage industry.

"This year's class of Rising Stars represents the best in young leadership within the mortgage finance arena," said Caroline Basile, HousingWire's Online Editor and member of the selection committee. "I'm impressed by the achievements of this year's winners and look forward to seeing what each of them accomplishes in the mortgage and housing finance economy in the future."

To view the complete list of 2018 HW Rising Stars, see the June issue of HousingWire or visit https://www.housingwire.com/articles/43468-housingwires-class-of-2018-rising-stars.

About HousingWire:

HousingWire is the nation's most influential source of news and information for U.S. mortgage markets, boasting a readership that spans lending, servicing, investments and real estate market participants as well as financial market professionals.

Winner of numerous awards, including a 2012 Eddie Award for national editorial excellence in the B-to-B Banking/Business/Finance, HousingWire has been recognized for excellence in journalism by the Society of Business Editors and Writers, the American Society of Business Press Editors, the National Association of Real Estate Editors, and Trade Association Business Publications International.

About Subsequent QC, LLC (SQC):

SQC is a premier provider of servicing quality control (QC) and subservicer oversight audit solutions for mortgage lenders and servicers. With extensive experience in servicing QC and servicing operational due diligence, SQC is the partner of choice for bridging the gap between servicing compliance and risk.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that Nicholas Corpuz, Vice President of MQMR servicing-focused sister firm Subsequent QC (SQC), has been honored by HousingWire magazine as a 2018 Rising Star. Corpuz was profiled in the June 2018 issue of HousingWire.

Related link: http://www.mqmresearch.com/

MQMR Counsels Mortgage Lenders to Increase Internal Audit Frequency and Compliance Resources to Safeguard Secondary Market Activities

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer today advised lenders to increase the frequency with which they conduct their internal audits to ensure secondary market activities and relationships are not negatively impacted by undiscovered risks.

"Most lenders are only conducting internal audits once or twice a year, if at all, but the GSEs are clear that internal audits should be conducted on an on-going basis. Therefore, this frequency is inadequate from both a requirements standpoint and from a total risk management perspective," Steer said. "Without the full picture available, lenders could unknowingly be engaging in risky practices that could negatively impact loan quality and, ultimately, erode trust with investors."

"To properly ensure that all potential risks are discovered and addressed, lenders should be conducting at least four to six audits annually," Steer added.

Many lenders assume that a robust pre-funding and post-closing quality control (QC) program can supplement internal audit efforts, but, Steer notes, there are key differences between these two functions that make this assumption inaccurate.

"QC reviews are much more narrowly defined and only intended to assess credit and/or regulatory issues, whereas internal audits assess risk across every aspect of a lender's organization, including credit and regulatory, but also other areas such as operational, financial and reputational risks," Steer explained. "The purpose of these audits is to evaluate a lender's control activities to identify process gaps, inefficiencies and potential risk - something a standard QC review is not designed or intended to uncover."

Because compliance is one of the largest areas of risk lenders face, Steer recommends adding on-going compliance support to ensure rules and regulations are being interpreted corrected and executed compliantly.

"Lenders can never have enough compliance resources, but in today's origination environment, acquiring the amount of staff needed to thoroughly manage compliance risk is simply cost-prohibitive," Steer said. "If you have one compliance officer, you really need two, and if you have two, three or four would be even better. Unfortunately, this is not realistic for lenders to achieve, but by adding a third-party resource, lenders can cost-effectively add the resources they need to shore up their compliance strategy and reduce their risk."

MQMR conducts internal audit risk assessments and provides on-going internal audit support to help lenders of all sizes identify risk throughout their organization and improve the effectiveness of their internal risk management, control activities and governance processes. In addition, MQMR offers a suite of compliance services, including a flat-fee, monthly compliance support program that gives lenders access to MQMR's compliance experts on an as-needed basis.

"In the December 19 update to its Selling Guide, Fannie Mae made it crystal clear that internal audit independence is a key component of seller/servicer compliance. However, lenders need not leverage multiple vendors to obtain internal audit and compliance support," Steer said. "On the contrary, most vendors have set these services up as separate business lines and should be able to meet the GSEs' requirements for independence while also supporting lenders in multiple areas to provide comprehensive support."

MQMR executives will be in New York City on May 20-23, 2018. If you'd like to set up a meeting about compliance, audit, or risk management services, contact Info@MQMResearch.com.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements.

With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer today advised lenders to increase the frequency with which they conduct their internal audits to ensure secondary market activities and relationships are not negatively impacted by undiscovered risks.

Related link: http://www.mqmresearch.com/

MQMR Advises Mortgage Lenders to Supplement Resources for Compliance Guidance

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer today urged lenders to seek additional resources for compliance advice to ensure total compliance with regulatory requirements.

"Lenders cannot afford a knowledge gap in compliance - it's far too mission-critical. The sheer number of regulatory rules that must be monitored from the federal level down is enough to overwhelm even the most experienced mortgage compliance professional. It can take years to properly educate and acclimate individuals in the nuances of mortgage compliance," Steer said. "As our industry's most seasoned compliance professionals inch toward retirement, lenders would be well served to shore up their compliance programs with third-party compliance expertise."

Rising origination costs and overall declining margins are forcing many lenders to scale back or sideline additional expenses. However, Steer notes, the cost of a regulatory misstep could be far more detrimental to their bottom line.

"Regulatory fines for compliance violations can easily reach six figures. Factor fines alongside investor buyback requests on non-compliant loans, and the impact of non-compliance outstrips any expenses lenders incur to ensure their compliance," Steer explained. "Cutting compliance support would be a penny-wise but pound-foolish business decision for mortgage lenders at precisely this time."

MQMR assists lenders in the creation and maintenance of a comprehensive compliance program to mitigate regulatory risk exposure. Its compliance services suite offers lenders a flat-fee monthly compliance support program, giving lenders discretionary direct access to MQMR's compliance experts. Included in this service are:

* Federal, state and loan-level questions;
* Customized policies and procedures review and development;
* Thorough assessment of advertising and marketing materials;
* Detailed website reviews;
* Regulatory intel and investor interpretations;
* State examination assistance; and
* Recommendations on overall best practices.

"Anyone can read a statute or regulation," Steer said. "When a lender has a compliance question that their internal team cannot answer, they need real advice, not a regurgitation of the statute, and they need it as soon as possible."

"Our flat-fee monthly compliance program ensures lenders have access to specific and actionable advice on their time-sensitive compliance questions without them feeling 'nickeled-and-dimed' or spending ridiculous amounts of time on the hunt for answers," he added.

For MBA Legal Issues & Regulatory Compliance Attendees:

MQMR executives are attending the MBA's Legal Issues & Regulatory Compliance Conference 2018, April 29 - May 2 at the JW Marriott LA Live, Los Angeles, Calif. If you'd like to set up a meeting about our Compliance services, or other services from our family of companies, contact Info@MQMResearch.com.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, including providing mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

MQMR (Mortgage Quality Management and Research) President Michael Steer today urged lenders to seek additional resources for compliance advice to ensure total compliance with regulatory requirements.

Related link: http://www.mqmresearch.com/

Two MQMR Employees Selected as MBA, California MBA Future Leaders

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that two employees from the MQMR family of companies have been selected to participate in executive leadership development programs sponsored by the national Mortgage Bankers Association (MBA) and the California Mortgage Bankers Association.

Erin Harris, manager of MQMR's vendor management division was selected to participate in the Future Leaders program offered by the MBA. The program is designed to deliver, "a comprehensive curriculum for selected managers who have shown leadership interests and abilities...and enhance [participants] skills through three hands-on sessions geared toward political activism; business analysis and problem solving; and experiential learning through collaboration, networking and peer group interaction."

Jason Alderton, servicing quality control (QC) manager for MQMR sister-firm Subsequent QC, LLC was selected for the California MBA Future Leaders program. Much like the MBA's program, the California MBA Future Leaders is also intended to "develop the next generation of qualified, responsible, and capable market leaders," over the course of two sessions. These sessions focus on identifying the behaviors that drive effective leadership to help participants develop a personal leadership development plan.

"MQMR's greatest asset is its employees, and the firm is deeply committed to their professional development, as well as the advancement of the mortgage industry at large," said Michael Steer, president of MQMR. "Erin and Jason are two of the best MQMR has to offer, and I look forward to observing the growth in their leadership skills as a result of participating the MBA and California MBA Future Leaders programs."

Harris and Alderton are the latest in a series of MQMR employees to be selected for the Future Leaders programs offered by the MBA and California MBA. MQMR Director Dayna Silver is a graduate of the MBA's Future Leaders program, and previous MQMR graduates of the California MBA's program include Steer, Co-Founder Ben Madick, Director of Servicing Oversight Nicholas Corpuz and Account Executive Alan Ridenour.

"As a Future Leaders graduate, I have encouraged my staff to avail themselves of these invaluable programs at every opportunity," Steer added. "Supporting our employees' participation in these programs not only aids their individual growth, but it also helps fuel the success of the mortgage industry at large by developing the next generation of leadership."

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that two employees from the MQMR family of companies have been selected to participate in executive leadership development programs sponsored by the national Mortgage Bankers Association (MBA) and the California Mortgage Bankers Association.

Related link: http://www.mqmresearch.com/

Mortgage Risk Management and Compliance Vendor MQMR Grows Sixth Consecutive Year Serving Lenders and Servicers

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that 2017 was a banner year for the company, marked by the launch of two new auditing programs and the addition of senior-level staff members.

Growing demand for additional audit and compliance services led MQMR to expand its selection of audit programs across its family of companies, including Subsequent QC and HQ Vendor Management. In 2017, the firm introduced a MERS audit program and a Home Equity Conversion Mortgage (HECM) servicing quality control (QC) program.

"More mortgage servicers are turning to us to establish and manage ongoing compliance measures due to the increasingly variable and complex nature of servicing oversight requirements," said Michael Steer, president of MQMR.

"In 2017, we completed more than 25 on-site servicing and document custodian audits for subservicers and lender servicing departments. Our ongoing monitoring services provide indispensable value to our clients because they include tools and recommendations for optimizing operations performance on top of ensuring regulatory compliance," he said.

Other notable 2017 performance milestones include completing more than 1,700 vendor reviews, more than 200 originator reviews, more than 50 internal audit reviews and 10,000+ loan level servicing audits for clients. Based on the invaluable data gathered and best practices observed during its reviews and audits, MQMR also launched a free bi-weekly FAQ newsletter in 2017 to provide guidance on points of compliance and counterparty risk management. Interested parties can sign up here.

MQMR also saw a 14 percent revenue increase in 2017, in line with the firm's projected revenue growth for the year, according to Steer, and in contrast with last year's overall mortgage industry decline. The firm has enjoyed growth every year since its inception in 2011.

"Once clients experience one of our services, they rapidly identify additional areas where MQMR can bring significant value to their organization, so it is not uncommon for us to expand our scope of work once we establish a relationship," said Steer. "As we transition into our seventh year of operations, we are eager to continue helping our clients maximize their potential performance while keeping in line with regulatory requirements."

Additionally, MQMR expanded its leadership team, hiring two senior-level staff members to manage the growing company: Julie McCurley, as Director of Operations, and Mitchell Nomura, as Internal Audit Manager. With extensive expertise and experience navigating federal, state and agency regulations, McCurley manages expanding regulatory and compliance monitoring service needs. Nomura oversees the internal auditing team dedicated to diagnosing compliance and operational risks for mortgage lender clients who must meet GSE internal audit requirements, a function the agencies are beginning to examine more closely.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader in counterparty risk and compliance.

To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that 2017 was a banner year for the company, marked by the launch of two new auditing programs and the addition of senior-level staff members.

Related link: http://www.mqmresearch.com/

MQMR Taps Mitchell Nomura as Internal Audit Manager

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, announced it has hired Mitchell Nomura as internal audit manager. In this role, Nomura will apply his more than 30 years of experience overseeing compliance and risk management departments at bank and non-bank lenders to leading MQMR's team of expert internal auditors as they identify compliance and operational risks for mortgage lender clients.

"Our internal audit team has earned a reputation of excellence among the industry and has recently announced advanced compliance to the December 19, 2017 Fannie Mae Selling Guide Announcement SEL-2017-10 update six months ahead of the enforcement deadline," said Michael Steer, president of MQMR. "We are confident that Mitchell's effectiveness in managing departmental audits in accordance with updated GSE mandates as well as his wealth of industry experience position him as the ideal candidate to advance the success of our internal audit department."

Before joining MQMR, Nomura was Chief Credit Officer at Bank of San Francisco, where he oversaw its lending operations and enhanced the Compliance Management System (CMS), resulting in the bank obtaining the highest possible ratings for asset and quality management in a 2016 safety and soundness examination. Nomura's other career accomplishments include managing the development and implementation of a CMS and directing HMDA and TRID compliance for multi-billion-dollar loan originator, RPM Mortgage; overhauling Regulation O policy and training materials for Bank of Hawaii; implementing rigorous loan review procedures at City National Bank; and achieving top producer status as Lending Director for the Warehouse Lending division of GMAC Residential Funding.

"I've spent my career structuring compliance and risk management departments at bank and non-bank lenders to better identify risks and establish proactive procedures and policies that ensure quality loan production servicing," said Nomura. "I look forward to providing unique value to MQMR's top-tier internal audit program."

About Mortgage Quality Management and Research, LLC (MQMR)

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 1,500+ operational reviews of mortgage companies, subservicers, document custodians, and vendors, annually, MQMR prides itself on being an industry leader throughout the entire life cycle of the loan.

MQMR is viewed as an industry leader in counterparty risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, announced it has hired Mitchell Nomura as internal audit manager. In this role, Nomura will apply his more than 30 years of experience overseeing compliance and risk management departments at bank and non-bank lenders to leading MQMR's team of expert internal auditors as they identify compliance and operational risks for mortgage lender clients.

Related link: http://www.mqmresearch.com/

Subsequent QC, LLC Urges Lenders to Protect MSRs Ahead of Mortgage Servicing Activity in 2018

LOS ANGELES, Calif. /ScoopCloud/ -- Subsequent QC, LLC (SQC) President Michael Steer today advised lenders to take steps to protect their Mortgage Servicing Rights (MSR) assets ahead of an anticipated increase in total mortgage servicing volume. According to the Mortgage Bankers Association, outstanding mortgage debt is expected to reach $10.4 trillion by the end of 2018, compared to $10 trillion in 2017 and $9.7 trillion in 2016.

With the increase in the number of loans to service, and lenders that lack the capabilities to service in-house, the nation's existing 10 to 15 servicers will experience an additional influx in business, making it even more critical for lenders to shore up their oversight of these entities and the assets with which they've been entrusted, Steer says.

"When volume increases, it becomes correspondingly more difficult to ensure quality on a day-to-day basis, which is why lenders need to put additional oversight in place now before volumes rise significantly," Steer said. "These are potentially 30-year assets, and to ensure lenders derive maximum benefit from owning these assets, it is imperative that they enshrine them with every level of protection possible through operational audits of their subservicer and loan-level servicing quality control reviews."

As the servicing-focused sister firm to leading mortgage risk management and compliance services firm Mortgage Quality Management and Research, LLC (MQMR), SQC offers extensive experience in servicing/subservicing operational oversight and loan-level servicing QC. Cross-educated on all areas of interest (AOIs), SQC auditors are trained to recognize issues indicative of process failures, coaching opportunities, trending and mitigating corporate expenditures - all of which enable lenders to effectively manage and protect their servicing assets.

"SQC strives to provide a holistic approach to servicing oversight and loan-level QC that bridges the gap between servicing compliance and risk," Steer said. "To that end, our
auditors are trained to go beyond 'checking the box' and investigate the root cause of issues to ensure issues are addressed at ground zero."

Learn More:
For more information about Subsequent QC services, go to http://subsequentqc.com/ or send an email to: info@mqmresearch.com.

For MBA Servicing Attendees:

MQMR/Subsequent QC executives are attending the MBA's National Mortgage Servicing Conference & Expo 2018, February 6 - 9 at the Gaylord Texan, Grapevine, Texas. If you'd like to set up a meeting about our Servicing QC services, or other MQMR/Subsequent QC services, drop an email to Info@MQMResearch.com.

About Subsequent QC:

Subsequent QC, LLC ("SQC") is a premier provider of Servicing Quality Control audit solutions for mortgage lenders and servicers. With extensive experience in servicing quality control and servicing operational due diligence, we focus exclusively on managing servicing risk for our clients. SQC is the partner of choice for bridging the gap between servicing compliance and risk.

About Mortgage Quality Management and Research, LLC (MQMR):

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 1,500+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader throughout the entire life cycle of the loan.

MQMR is viewed as an industry leader in counterparty risk and compliance. To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Subsequent QC, LLC President Michael Steer today advised lenders to take steps to protect their Mortgage Servicing Rights (MSR) assets ahead of an anticipated increase in total mortgage servicing volume. According to the Mortgage Bankers Association, outstanding mortgage debt is expected to reach $10.4 trillion by the end of 2018, compared to $10 trillion in 2017 and $9.7 trillion in 2016.

Related link: http://www.mqmresearch.com/

MQMR Announces Internal Audit Services Compliant with Fannie Mae Seller/Servicer December 19 Update

LOS ANGELES, Calif. /ScoopCloud/ -- Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that its Internal Audit services offering meets or exceeds the requirements for Fannie Mae seller/servicers to be in compliance with the December 19, 2017 Fannie Mae Selling Guide Announcement SEL-2017-10 update. The update describes mortgage lender internal audit requirements clearly with regard to independence and reporting lines, eliminating any perceived ambiguity from the current Selling Guide Eligibility requirements. Fannie Mae enforcement of the updated requirements begins July 1, 2018.

A trusted provider of mortgage lender and servicer internal audit services since 2011, MQMR has adapted its own policies and procedures to support the updated Fannie Mae requirements covering approved seller/servicers who "must have internal audit and management controls to evaluate and monitor the overall quality of their loan production and servicing."

"Fannie Mae has clarified beyond a shadow of a doubt that Internal Audit independence is an integral aspect of seller/servicer compliance," said MQMR President Michael Steer. "Given the costs and expertise needed to set up a fully functional internal audit program, outsourcing Internal Audit is probably the best solution, so the next step for mortgage lenders covered by this update is to begin evaluating Internal Audit providers immediately."

MQMR adheres to the very specific auditing standards established by The Institute of Internal Auditors, ensuring that every internal audit it conducts meets Fannie Mae requirements.

Further, MQMR Internal Audit services deliver the specific elements Fannie Mae requires, including:
* The risk assessment methodology used to identify the operational areas and functions to be audited and the frequency of those audits;
* The policies and procedures implemented to govern reporting to senior management and the remediation of findings; and
* The departmental and functional audit schedule for a minimum 12-month period, which should identify the areas subject to review during the current period and align with the risk assessment.

MQMR also helps its Internal Audit clients provide the following required documentation:

* A complete copy of the executed contract, or certified statement of work, between the vendor and Seller;
* The contract, or certified statement of work, which must include policies and procedures for auditing each function or department within the organization, and the reporting methodology and distribution;
* The procedures for how and when findings will be remediated and monitored; and,
* The departmental and functional audit schedule for the following 12-month period.

"We agree, as the Fannie Mae update highlights, that a key aspect of the independent Internal Audit is 'bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes,'" Steer said. "MQMR was founded on the belief that our industry does its best work with an unwavering eye on these principles."

For more information about MQMR Fannie Mae compliant Internal Audit services, go to: http://www.mqmresearch.com/services/internal-audit/ or send an email to: CompliantInternalAudit@MQMResearch.com.

For IMB Attendees:

MQMR executives are attending the MBA's 2018 Independent Mortgage Bankers (IMB) Conference, January 22 - 25 at the Ritz-Carlton, Amelia Island, Fla. If you'd like to set up a meeting about our Internal Audit services, or other MQMR services, drop an email to Info@MQMResearch.com.

About Mortgage Quality Management and Research, LLC (MQMR)

MQMR bridges the gap between risk and compliance through its suite of risk-related services. Since its inception, MQMR has launched multiple products and services to assist lenders in navigating regulatory requirements, providing mortgage compliance consulting throughout the origination process, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements.

With 1,500+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being an industry leader throughout the entire life cycle of the loan.

MQMR is viewed as an industry leader in counterparty risk and compliance.

To learn more, visit http://www.mqmresearch.com/, http://subsequentqc.com/, and http://hqvendormanagement.com/.

Mortgage Quality Management and Research, LLC (MQMR), a leader in mortgage risk management and compliance services, today announced that its Internal Audit services offering meets or exceeds the requirements for Fannie Mae seller/servicers to be in compliance with the December 19, 2017 Fannie Mae Selling Guide Announcement SEL-2017-10 update.

Related link: http://www.mqmresearch.com/