Mortgage Electronic Registration Systems, Inc. (MERS) eAnnual Report Review Vendor

Background
The Rhode Island Housing and Mortgage Finance Corporation (RIHousing) is seeking proposals from qualified firms to complete Annual Reports as required by Mortgage Electronic Registration Systems, Inc. (MERS) in its Quality Assurance Procedures.

MERS mandates that any member servicer who services 1,000 or more loans engage an independent third party to review its processes and complete the eAnnual Report.

Work Details
The selected firm will perform the following services:
- Review and validate data reconciliation and remediation procedures;
- Review and validate MERS required documentation;
- Review and validate all RI Housing MERS related procedures;
- Create the Quality Assurance internal audit report;
- Execute the eAnnual Report for submission to MERS;
- Hold a feedback session with RI Housing.

The eAnnual Report must confirm that a Servicing Member has written internal procedures and controls in place, including submitting all required data to the MERS System, conducting reconciliations, verifying data accuracy, managing error reports, complying with MERS Signing Officers' requirements, and monitoring performance against its QA Plan.

Period of Performance
The successful company will conduct the review and submit the eAnnual Report each year between October 15th and December 31st, as set by MERS.

Place of Performance
The review can be performed offsite, with feedback meetings held via teleconference.