MERS recently released version 26.1 of its System Procedures Manual. These bi-annual releases include changes lenders and servicers should not overlook. For teams responsible for compliance, it is important to understand what changed and whether internal processes need to be adjusted.
What changed
Some updates focus on system enhancements and reporting changes, such as updates to loan attribute displays and expanded daily reporting outputs. Others introduce new tools, including an optional audit log tied to remote online notarization activity, designed to strengthen documentation and support compliance.
One of the most notable additions is a new semiannual contacts attestation. Members will now be required to confirm contact information in the MERS system every six months. This adds another layer of accountability and visibility into member data.
What it means for lenders
MERS expects members to stay current with procedural updates and reflect those changes in their internal policies. Gaps between updated requirements and internal processes can lead to findings during reviews, whether annual or through quality assurance selection.
There are also nuances in how certain updates apply. For example, changes tied to corporate resolutions may depend on whether servicing is handled internally or through a subservicer.
Why it matters now
MERS updates its manual multiple times a year and waiting until year-end to assess changes can create unnecessary risk. Lenders that review updates as they are released are better positioned to maintain compliance, adjust processes as needed, and avoid surprises during audits.
Watch our short video above for a breakdown of the latest MERS updates and where to focus your attention.
Additional MERS Resources
For many mortgage lenders, the annual MERS Review is a requirement that raises more questions. Even for experienced leadership teams, there is often uncertainty around what the review really entails, how it is evaluated, and where risk tends to surface. For more information on what the review actually involves, how the threshold is applied, and what leadership teams should be doing before year end, tune in here.
MERS Review Basics: What Leadership Teams Should Pay Attention To
