MERS® TPR Annual Review and Attestation
Expert Third Party Review of Mortgage Electronic Registration Systems
Our MERS® TPR process will consist of conducting a review of our client’s compliance with MERS® System Quality Assurance Procedures by requesting the necessary documentation and evidence.
To conduct the 3rd party annual review and attestation, we will set up a review on our website for the MERS® Attestation and add individual documentation requests for your company’s MERS® QC documentation and artifacts required for us to review and attest to the MERS® QC standards. If your company uses a subservicer to service loans, we can give access to our subservicer personnel responsible for the MERS® QC processes, so that they can upload the required MERS® subservicer documentation to our website.
Once all documentation has been uploaded, Mortgage Connect Risk Solutions will review the documentation, report any findings and complete the 3rd party attestation for your company.
Annual Report Statements
If the member services 1,000 or more active MINs (MERS® loans), MERS® requires the member to use an external, third-party review organization to attest to the validity of the statements on the MERS® Annual Report.
The Annual Report Statements are:
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“Member has in place procedures designed to provide reasonable assurance that it has submitted to MERSCORP Holdings data for all the MERS® System required and conditional reporting fields.”
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“Member has conducted system-to-system reconciliations for all MERS® System required and conditional reporting fields at the required frequency (monthly).”
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“Required and conditional fields entered on the MERS® System on behalf of Member match those values in Member’s System of Record, and discrepancies and remediation activities necessary to align the two systems are tracked and monitored on aging reports until cleared.”
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“Member has in place procedures designed to provide reasonable assurance that it has conducted daily capture of all reject/warning reports associated with registrations, transfers, and status updates on open-item aging reports.”
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“Member has in place procedures that are designed to provide reasonable assurance of compliance with the MERS® System Rules and Procedures applicable to Signing Officers.”
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"Member has monitored its performance against Member’s Quality Assurance Plan, has reviewed the plan at least annually for effectiveness, and has revised the plan as necessary.”
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Required Documentation
The following is the checklist of documentation which will be required for submission to ADFITECH in order to complete the annual review and attestation:
Lender / Servicer MERS® Documentation Request
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Last Year's MERS® Report & Attestation with any evidence of required Corrective Action
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MERS® eQA Plan
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MERS® Corporate Resolution
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MERS® CRMS Signing Officer Documentation
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MERS® Member Profile including Member Summary and Contract
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MERS® Contacts Verification
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MERS® Department Organizational Chart
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MERS® Policy & Procedures, which include:
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Document Request for MERS®
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Registration Reports
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Transfer Registration Audit
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Reconciliation: Monthly System-to-System data and other Reconciliations
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MERS® Administration Activities: Member
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Profile, Contacts and User Access Reviews
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Remediation Corporate Resolution Activities
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Corporate Resolution and CRMS Reviews
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Checklist for Third Party Annual Procedure Review & Attestation
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MERS® System-to-System Reconciliation Reports
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MERS® Registration Audit Results
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MERS® Data Review Findings
Subservicer MERS® Documentation Request
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Subservicer MERS® Corporate resolution
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Subservicer CRMS Signing Officer Documentation
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Subservicer Policy and Procedures, which include:
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209 MERS® System Management & QA Process
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MERS® Audit Procedure
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MERS® Policy
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Subservicer MERS® System-to-System Reconciliation Reports
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Subservicer MERS® Quality Assurance Report: Deactivations
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Subservicer MERS® eQA Plan
MORTGAGE SERVICES // MERS TPR
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