Residential

MERS Reviews

As a MERS member, you must complete a required annual review by a third party if you have more than 1,000 active MINS as of March 31st of the applicable year. Are you prepared? Clayton^® can provide a comprehensive, consultative MERS review and ensure you meet the strict December 31st deadline each year. To help you avoid violations and fees assessed by MERS, Clayton begins the annual review process as early as June. Clayton has been conducting MERS reviews for more than 20 years, and clients rely on us for:

Annual Reviews

Clayton has deep knowledge of and experience performing MERS Annual Reviews and quality assurance audits for mortgage financial institutions. Clayton has been on the Official MERS Trained Annual Report Reviews list for years. We continuously check for MERS annual review requirement updates, and MERS directly sends us new guidelines if the six annual conditions have changed. Before submitting a final report to MERS, we work hard to build partnerships with our clients, proactively providing clear and concise results with no surprises.

MERS Loan-Level Testing

Clayton has robust review modules covering MERS guidelines, and we help our clients build quality control plans to meet MERS document execution and timeline requirements. Clayton also assists with targeted loan-level testing in specific content areas where costly outside audit risk or potential audit violations exist.

Monthly Loan-Level Data Reconciliation

Clayton makes reconciling and remitting data user-friendly and straightforward. Our data reconciliation software identifies discrepancies quickly. MERS members are required to conduct periodic data reconciliations as detailed in the MERS System Procedures Manual. Clayton identifies discrepancies between our client’s system of record and the MERS system, creates deep insights for clients to track issues and quickly makes the required updates to adhere to the MERS procedural handbook.

QA Plan Reviews

Per the MERS System Procedures Manual, a member confirms that it complies with the requirements set forth by MERS’ Governing Documents by submitting a QA Plan if required. Clayton helps identify gaps or discrepancies within its client’s QA Plan and helps ensure there are policies and procedures in place to monitor the QA Plan for effectiveness, including data, documents and compliance reviews.

Remediation Plans

Clayton helps remediate Rules and Procedures violations that MERSCORP has notified the member of and, in addition, helps develop new or improve current written MERS policies and procedures.

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