New QC Tool Lets Mortgage Lenders Compare Defect Rates With Their Peers

Posted by Patrick Barnard on November 04, 2015 No Comments
Categories : Residential Mortgage

MarBecca Group, a provider of mortgage quality control (QC) software, recently launched a new benchmarking tool that standardizes QC findings and enables lenders to compare themselves with other lenders.

Developed in conjunction with strategic analytics firm Mortgage Trueview Inc., the QualityView benchmarking tool is a significant advancement in enhancing the way lenders and investors evaluate loans, MarBecca Group says in a release.

‘We can now help QC personnel who want to answer management's question, 'How do we compare to others? Do our loans measure up to what other lenders are producing?'’ says Rebecca Walzak, partner and co-founder of MarBecca Group. ‘For years, everyone had a different measurement for determining quality loans, and those buying and securitizing loans had no way to compare lender to lender. With this tool, that time is now over.’

As part of the launch, the company will be holding a ‘Quality Face-Off’ contest in which participants will review and evaluate identical loans based on the standards they use internally at their respective companies. It is open to any QC analyst wishing to participate. Once all loans have been reviewed, the winner will be announced and will receive a $100 gift certificate to the store of his or her choice. Details will be announced later this year.

‘Thinking of quality as a one-dimensional review process is wrong,’ Walzak says. ‘There are, in fact, three facets to ensuring quality products: quality assurance, QC and quality insights. Each of these plays a critical part in achieving operational efficiency and effectiveness.’

MarBecca Group Partner Marianne Boylan adds, ‘By comparing the results you want to what you are getting, we identify the risks associated with poor processes and provide the results of the measurements in a way that tells you when and where to take action.’

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