Investor reporting and reconciliations for the Mortgage Servicing Industry

Let QIE Partners Handle Your Investor Reporting and Reconciliations

“QIE Partners (pronounced “key partners”) is a premier provider of investor reporting and reconciliation services for banks, credit unions, and mortgage companies. We specialize in Fannie Mae, Freddie Mac, Ginnie Mae, FHLB, and private investor reporting.  We provide clear and concise reconciliations for custodial accounts, clearing accounts, and general ledger accounts. We offer quality control and audit support, operational reviews, assistance with sales and acquisitions, support for technology initiatives, and more!

Our services to the Mortgage servicing industry

Bank Account Reconciliations

QIE Partners reconciles Principal and Interest (P&I) accounts, Taxes and Insurance (T&I) accounts, clearing accounts, and mortgage servicing general ledger accounts.

Mortgage Servicing Investor Reporting

QIE Partners provides investor reporting services for single-family residential mortgages to Fannie Mae, Freddie Mac, Ginnie Mae, Federal Home Loan Bank Board, and private investors. 

Fannie Mae Portfolio Reconciliations

Servicers are required to complete Fannie Mae Schedules each month.  QIE Partners provides this service. We have good working relationships with Fannie Mae representatives.

Audit Services

QIE Partners is a valuable resource for Mortgage Servicers who have severe audit findings from government agency investor audits.

Operational Reviews

QIE Partners offers operational reviews for all areas of Investor Accounting, including investor reporting, remitting, and bank reconciliations.

 

QIE Partners’ Reach is Nationwide

QIE Partners helps banks, credit unions, and mortgage companies improve and streamline their mortgage servicing processes.  We offer the highest quality of investor reporting services, custodial bank reconciliations, clearing account reconciliations, and Fannie Mae Schedule services to help our clients achieve the highest ratings on investor scorecards.

 

Reasons why Clients Hire Qie Partners

 

 

“We’re having reconciliation issues with Freddie Mac Form 59 and getting it to balance.  The closest we got was a $300 difference and we thought that was pretty good.  Then, we got an audit request from Freddie Mac, which we haven’t had in years!  We know this is something we need to get squared away sooner than later.”

“Our bank has had a lot of turnover, which has resulted in not having any employees that fully understand the reporting and reconciling requirements. We’d like to outsource these processes to QIE Partners to prevent employee turnover from causing potential investor audit issues.”

“We have inexperienced staff and recently converted to a different servicing system and are not certain if our investor reporting, remitting and reconciling processes meet investor requirements.  We currently service loans for Ginnie Mae, Freddie Mac, Fannie Mae and Federal Home Loan Bank.  We would like to hire QIE Partners to complete a review of our investor reporting and accounting operations.  We would appreciate any information on how other shops are performing some of the tasks with the different investors and on our servicing system that we are struggling to complete.”

“Fannie Mae conducted a cash management review, which identified a number of findings in our investor reporting and custodial account reconciliation area.  We needed assistance to create a remediation plan, help us develop corrective actions and write procedures to clear the audit findings.  Once we realized our lack of expertise in this area, we requested that QIE Partners continue to complete our recons each month.  Our follow up STAR review was clean and supported our decision to partner with QIE Partners.”

“Our company decided to bring our subserviced loans in house.  After about a year we realized our original staffing choices did not convert or maintain our custodial and clearing accounts as expected.  We brought in new management for our Investor Reporting department who discovered that the custodial and clearing accounts had not been reconciled correctly or at all from the date of the conversion.  In addition, the settlement from the subservicer was not documented, leaving outages in most of our accounts.  We asked QIE to go back to the date of the conversion, determine the funds that should have been documented at settlement, complete accurate reconciliations for 18+ months, and help us clear recon items so all of our investor accounts were fully funded.”

“Capital Markets began issuing GNMA pools and we had no experience or process/procedures in place to handle the GNMA requirements.  QIE helped us create tools to complete the reporting, and we felt we could manage the reconciliations.  However, we found that our system did not provide us the reports that were needed to accurately reconcile our GNMA accounts.  There were outages each month that could not be identified.  We reengaged QIE to complete our reconciliation for two reasons:  1) we needed accurate and timely recons; 2) we needed monthly QC of our reporting to identify errors and bring them to our attention so they could be resolved quickly in order to avoid repeating errors over and over again.”

“In a review of our reconciliations we found we had not completed our Freddie Mac reconciliations for several years.  We found QIE Partners who provided us with an efficient and cost-effective option to get our recons current and keep them current for us each month.”

“Our investor reporting staff is small and is capable of following established procedures for reporting and reconciliations.  However, we are aware that there is an inherent risk because we don’t know what we don’t know.  QIE Partners is a partner for us, filling in the knowledge gap and providing us with piece of mind that things are being done correctly and well above industry standards.”

“External audit told us our custodial accounts should balance to the penny.  We have been unable to balance our Freddie custodial account since they changed to month end reporting.  We also had issues reconciling our forbearance loans.  We reached out to our servicing system company; they did not provide much help.  QIE Partners was recommended by another user of our system, so we gave them a call.  They acknowledged the complexity of a FHLMC reconciliation on our system but were confident they could help us.  They not only balance to the penny, they also produce a reconciliation workbook in an easy to follow manner with all required documentation that can be submitted directly to an auditor.”

“We lost our Servicing Manager on short notice. In less than 24 hours QIE Partners provided support with month-end reporting.  We got through the reporting deadlines and decided it would be beneficial for QIE to provide ongoing reporting and reconciling services.”

“We had a banking system that is unable to provide a properly formatted Fannie Mae LAR file.  In addition, a large portion of our portfolio were daily simple interest loans that our system was unable to report correctly. QIE Partners took our system generated information and turned it into a usable LAR file with accurate reporting information. The result was a more efficient reporting process with fewer monthly rejects.”

“The way that our servicing system processes cash movement for our Freddie Mac loans has resulted in our inability to properly reconcile our P&I custodial account for three years.  We have tried to reconcile our accounts using the same methodology from month to month with differing results each time.  We need assistance from QIE Partners to reconcile our custodial accounts properly and consistently from month to month.”

“We need QIE Partners to be our Investor Reporting and Investor Accounting departments because our current staff member has accepted another opportunity and we do not have any other staff with the necessary knowledge.  We would like QIE to assume all responsibility for daily and monthly tasks.  These tasks include Ginnie Mae pool setup, loan transfers, daily reporting to Fannie Mae and Freddie Mac, monthly reconciliations and ensuring all other critical tasks are completed.”

We are finding it increasingly difficult to reconcile our Freddie Mac custodial accounts accurately and have been struggling since Freddie implemented IRCI and changed to an end-of month cutoff in 2019.  We need QIE Partners’ help to complete our monthly reconciliations.”

“Our experienced staff member had left our company and our staff member who filled the position did not have any investor reporting experience.  In addition, we were converting our servicing system.  We had gone with an individual consultant that spent hours on our GNMA recon and was unable to make much progress balancing or clearing the reconciliation items.  We reached out to QIE Partners to help us get our recons in balance and help us clear the aged items.  In the meantime, we received notice from GNMA that they would be auditing our company.  QIE was able to jump right in, get our recons up to date and in shape for our audit.  We were totally prepared for our investor custodial audit and so happy with their assistance, we decided to have them continue complete our GNMA recons monthly.”

 “Our auditors identified the lack of QC for our FNMA reporting and reconciliations. To resolve the finding we needed to develop a QC plan.  We had worked with QIE Partners in the past, so reached out to see if they could perform Quarterly reviews and provide a report that could be presented to the auditors.  The auditors were pleased with our solution, so we found it prudent to have them review our Freddie and FHLB portfolios.”

“We brought our Ginnie Mae portfolio in-house from a sub-servicer.  The conversion was messy and consultants from our new servicing system were not able to get our GNMA P&I account reconciled.  We brought in an independent consultant to help with the area and found there were still lots of reporting problems with our staff so new to Ginnie Mae reporting.  We found QIE Partners and are able to let them act as our Investor Reporting department from pool set up, transfers, reporting and reconciliations.  Our experience with them in our GNMA area prompted us to ask them to complete our payment clearing account.  We are so relieved we can rely on them.”

The statements on this page are direct quotes from our clients, which include banks, credit unions and mortgage companies. Due to the confidential nature of our business and in accordance with client agreements, we will only provide a client’s name upon express written permission from that client.

In the near future, Fannie Mae will automatically draft your P&I Custodial account for actual/actual loans.

Have you prepared processes for this change?

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Phone (303) 808–5878

PO Box 100945, Denver CO 80250