Agoura Hills, Calif.-based Interthinx has announced the availability of its new MERS Compliance Audit Service.
According to the company, this new service helps MERS members avoid sanctions, penalties or revocations that could result if they are ruled to be out of compliance with the new MERS requirements. The service uses a three-pronged strategy covering independent, third-party and annual reviews; monthly or quarterly portfolio reconciliations; and document reviews and validations. Operational risk auditors conduct the annual review through an on-site review at the member's facilities, and the results are captured on an executive summary that outlines variances and recommended best practices for remediation when filing the plan with MERS at audit conclusion.
‘We understand the critical importance for servicers and lenders to remain MERS compliant, but we also understand the difficulties they face trying to implement a MERS-quality assurance system with internal resources,’ says Michael Zwerner, senior vice president for Interthinx. ‘As a MERS-preferred provider, Interthinx has leveraged its industry-leading compliance expertise to develop its MERS Compliance Audit Service to help MERS members meet the new requirements.’