Oct, 11
2023
Awards and Honors, Business, Free News Articles

ACES Quality Management President Phillip McCall named a HW Vanguard

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced that HousingWire magazine has selected Phillip McCall in its annual Vanguard award program.

HousingWire's Vanguard award program recognizes leaders of businesses contributing to the growth of the housing economy and its various sectors, including lending, servicing, investments, and real estate. HousingWire selects 100 leaders from diverse backgrounds who may run established companies or start-ups but share one common trait: an unmistakable impact on the industry at large.

"Behind every great company lies a visionary leader, and ours is no exception. Phil embodies the essence of excellence in every aspect of his leadership. From spearheading operations and product management to driving cutting-edge technology and client-facing initiatives, he has redefined what it means to be a true Vanguard in the industry," said ACES CEO Trevor Gauthier. "His unwavering commitment to fostering a dynamic internal culture has transformed our organization into a tight-knit community of passionate individuals working collaboratively towards a common goal."

McCall's most recent achievement is ACES PROTECT, a suite of automated regulatory compliance tests added to its flagship ACES Quality Management & Control ® quality control (QC) auditing platform. Through ACES PROTECT, users can easily access a suite of compliance checks within the ACES platform, including certification of loan estimate/closing disclosure calculations, high-cost mortgage and high-price mortgage loan testing, Qualified Mortgage (QM) tests and other critical compliance tests.

"The 2023 Vanguards are made up of the industry's most impressive and powerful leaders who are fueling the growth of their organizations and leaving an indelible mark on the industry," said HW Media Editor-in-Chief Sarah Wheeler. "These remarkable individuals underscore the pivotal role that visionary leadership plays in our ever-evolving housing ecosystem. These winners' achievements stand as a testament to the enduring significance of the Vanguards award, which has become a career-changing accolade reserved only for the industry's top leaders."

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

About HousingWire:

HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 1.0 million unique visitors each month. Our audience of mortgage, real estate and fintech professionals rely on us to Move Markets Forward. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Oct, 05
2023
Business, Free News Articles, Software

ACES Quality Management Announces Preliminary Speaker Lineup for ACES ENGAGE 2024

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has announced its speaker lineup for the upcoming ACES ENGAGE conference, taking place at the Ritz Carlton Dove Mountain hotel in Tucson, Ariz., May 19 - 21, 2024.

This year's keynote speaker is Robyn Benincasa, a two-time world champion adventure racer, 20+ year veteran San Diego firefighter, 2014 CNN Hero, Guinness World Record Endurance Kayaker, best-selling author, and founder of The Project Athena Foundation.

In addition, ACES has gathered thought leaders and industry experts for this year's speaker lineup, including:

* Joel Kan, vice president and chief economist at the Mortgage Bankers Association;

* Richard J. Andreano, Jr., partner and practice leader of Ballard Spahr's Mortgage Banking Group; and

* A Fannie Mae representative to be announced.

"With the increased regulatory scrutiny of loan quality and repurchase requests on the rise, lenders must ensure their quality control and risk management processes are up to the challenge," ACES CEO Trevor Gauthier said. "Watching quality control professionals from across the financial services industry gather and share strategies, collaborate with industry leaders and drive the future of quality management and control is the best and highest outcome we could hope for from this event. We're so pleased to share our speaker lineup for next year and look forward to the fruitful discussions that have become a hallmark of this event."

ACES ENGAGE provides a mix of general session presentations, panel discussions and social activities. Attendees will have numerous opportunities to learn from industry experts and thought leaders, network, and leave with the knowledge necessary to increase efficiencies, improve productivity and further quality at their organizations.

Register to attend ACES ENGAGE and learn more at https://www.acesquality.com/aces-engage-2024.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control Software® to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.acesquality.com/ or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 21
2023
Business, Free News Articles, Reports and Studies

ACES Q1 2023 Mortgage QC Trends Report Finds Critical Defect Rate Declines for Second Consecutive Quarter

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the first quarter (Q1) of 2023. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q1 2023 report include the following:

* The overall critical defect rate declined by 3.26%, ending at 1.78% and marking the second straight quarter of decline.

* In the major underwriting categories, Assets and Income/Employment improved, while Credit and Liabilities deteriorated.

* Despite its improvement this quarter, Income/Employment remained the leading defect category, followed by Assets and Legal/Regulatory/Compliance.

* The sub-category analysis showed increases in eligibility-related defects for both the Assets and Credit categories, whereas this seems to have been the primary driver of improvements in the Income/Employment category. However, analysis- and documentation-related errors both increased this quarter, with documentation remaining the largest sub-category of defects for both the Income/Employment and Asset categories.

* Appraisal defects increased, albeit nominally, for the second straight quarter.

* Purchase and refinance shares held steady in Q1, achieving defect parity for the second consecutive quarter.

* FHA defect share declined after two consecutive quarters of increase. While USDA defects continued to improve, VA defects increased significantly in Q1, and conventional defects also grew slightly.

"While the drop in origination volume has challenged the industry, it has also enabled underwriting and QC teams to be more diligent with each loan file, resulting in higher loan quality. The continued decline in the overall critical defect rate on the heels of last year's historic high indicates lenders have not let the desire for volume override the need to reduce errors and mitigate risk," said ACES Executive Vice President Nick Volpe. "With the recent changes to Fannie Mae's pre-funding QC reviews and post-closing QC cycle times, time will tell in the following quarters how diligent lenders have been in maintaining loan quality and investor requirements."

Findings for the Q1 2023 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"The tough decision lenders were faced with at the beginning of the year appear to be paying off. Lenders reported a pre-tax, per-loan net loss of $1,972 in Q1. This result is an improvement over Q4 2022's record $2,812 per-loan loss and reverses the trend of production losses that began in Q4 2020," said ACES CEO Trevor Gauthier. "We expect this data to continue to improve in the coming quarters. Making strategic investments in tech and optimizing operations - especially in QC - can have a significant impact on protecting existing revenue amidst challenging market conditions."

The Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Sep, 07
2023
Alliances and Partnerships, Business, Free News Articles, Software

ACES Quality Management and ActiveComply Partner to Help Financial Services Firms Address Social Media Compliance and Quality Control Needs

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced it has expanded its partnership program with ActiveComply, a leader in social media monitoring and website archival for the financial industry. The combined partnership will leverage ActiveComply's SocialShield® tool with the ACES Quality Management & Control® Software platform to improve regulatory reporting and streamline audit workflow for mortgage lending.

"Social media is constantly evolving, and lenders often struggle to effectively monitor and audit loan officer activity, which is why we are thrilled to announce our partnership with ActiveComply," said ACES CEO Trevor Gauthier. "Our technologies combined will empower our clients to more efficiently monitor social media activity as part of their overall compliance monitoring system in accordance with regulatory expectations and requirements."

ActiveComply's SocialShield® platform assists financial institutions in tracking company-affiliated social media profiles, monitoring those profiles for compliance and meeting regulatory archival requirements.

Key features include:

* Automated account discovery;

* Content alerts;

* Image scanning;

* Equal Housing logo detection;

* Missing Nationwide Mortgage Licensing System (NMLS) ID detection;

* Inappropriate language alerts;

* Executive reporting;

* Archiving; and

* On-going support for new hires and trigger terms.

"We have long admired ACES as the industry leader in quality control technology and are eager to partner with them," said Colby Berger, Chief Operating Officer at ActiveComply. "ActiveComply is leading the effort to keep financial institutions in compliance with the rapidly changing landscape of social media. Together, our companies' combined strengths help our clients improve compliance, create efficiency and ultimately increase revenue opportunities."

About ActiveComply:

ActiveComply was founded to help regulated institutions tackle the tremendous task of ever-growing compliance responsibilities. Working collaboratively with experts in the field - including compliance personnel, regulators, attorneys and other industry stakeholders - the company has developed a suite of solutions to help its clients confidently manage their social media, websites and remote work compliance. The company's software is built on more than 10 years of constantly evolving technology that has been used by more than 60 million professionals to date. This background, combined with experts in the compliance field, has resulted in powerful, easy-to-use and scalable tools that can save regulated institutions time, money and their reputations. To learn more, visit https://www.activecomply.com/.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 17
2023
Free News Articles

ACES Quality Management Execs Sharon Reichhardt and Phil McCall to Speak at 2023 MBA Compliance and Risk Management Conference

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced two of its top executives, Executive Vice President of Operations Sharon Reichhardt and President and COO Phil McCall, will be speaking at the 2023 Mortgage Bankers Association (MBA) Compliance and Risk Management Conference taking place September 10-12, 2023, at the Grand Hyatt in Washington, D.C.

McCall will introduce the speakers for the "Washington Update" opening general session on Monday, Sept. 11 at 8:30 am E.T. The session, which is sponsored by ACES Quality Management, will include updates from MBA's CEO Bob Broeksmit on recent developments by Washington policymakers and MBA's advocacy work. Following his remarks, attendees will hear directly from key regulators on agency priorities impacting regulatory compliance and delivery and servicing of loans to government agencies. In addition to Broeksmit, speakers for the session include representatives from the U.S. Department of Veterans Affairs (V.A.), U.S. Department of Housing and Urban Development (HUD), Federal Housing Finance Agency (FHFA), Consumer Financial Protection Bureau (CFPB) and USDA Rural Development.

Reichhardt will moderate the session, "Fraud Mitigation - The Devil's in the Data," on Monday, Sept. 11 at 2 pm., which "focuses on what lenders should be examining, data collection methods and how to analyze the data to determine how to stop common fraud schemes. Panelists also discuss how lenders can use data to mitigate financial risks and protect profitability." Representatives from Chase, Mann Mortgage, LLC and Mr. Cooper will join Reichhardt on the panel.

"As a Platinum sponsor for this year's Compliance and Risk Management conference, ACES is thrilled to support the MBA's efforts to keep mortgage professionals apprised of the latest trends, challenges and innovations related to compliance, loan quality and risk management," said ACES CEO Trevor Gauthier. "Phil and Sharon, two of ACES' finest minds, are poised to offer invaluable insights that will undoubtedly provide this year's attendees with food for thought as to how they can safeguard the integrity of their originations through robust quality control practices."

To learn more, visit the ACES team at booth number 7 or set up a meeting in advance by emailing sales@acesquality.com.

About ACES Quality Management

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on I.T. or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.acesquality.com/ or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 16
2023
Awards and Honors, Business, Free News Articles

ACES Quality Management named 2023 Best Places to Work in Financial Technology

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has been named one of the 2023 Best Places to Work in Financial Technology. The awards program was created in 2017 and is a project of Arizent and Best Companies Group.

This annual survey and awards program is designed to identify, recognize and honor the best employers in the financial technology industry. Companies recognized on this year's list operate in and serve companies and consumers in a wide range of financial services, including banking and mortgages, insurance, payments and financial advisory. The 2023 list included 50 companies and was published by Arizent brands American Banker, National Mortgage News, PaymentsSource, Financial Planning and Digital Insurance.

"At ACES, we pride ourselves on our customer-centric approach, and this people-first mentality naturally extends to our personnel," said CEO Trevor Gauthier. "Our dedicated staff of industry experts is the backbone of our industry-leading software, and without them, ACES would not be where it is today. The importance of employee feedback in the judging process for this designation makes this honor especially gratifying."

Companies from across the United States entered a two-part survey process to determine Arizent's Best Places to Work in Financial Technology. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data and determined the final ranking.

"Some of the most intriguing technology advances in financial services are developed within fintech firms that partner or compete with traditional banks," said Penny Crosman, executive editor of technology at American Banker. "Best Places to Work in Financial Technology provides a closer look at some of these companies and the culture and benefits that help them attract top talent."

For more information on Arizent's Best Places to Work in Financial Technology program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com or write to penny.crosman@arizent.com.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 15
2023
Business, Free News Articles, Reports and Studies, Software

Q4 2022 ACES Mortgage QC Industry Trends Report Shows Decline in Critical Defect Rate to 1.84%

The quarterly defect rate declined 25.5% over Q3, though the annual defect rate remained above 2% for 2022 -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the fourth quarter (Q4) of 2022, as well as the full calendar year (CY). The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q4/CY 2022 report include the following:

* The overall critical defect rate declined 25.5% over Q3 2022, ending the quarter at 1.84%.

* Due to two consecutive quarters of +2% defect rates, the overall rate for CY 2022 was 2.07%.

* Of the four major underwriting categories, Credit improved considerably over Q3, while Liabilities achieved a more modest improvement. Both Assets and Income/Employment increased significantly, ending Income/Employment's multi-quarter trend of decline.

* Income/Employment remained the leading category of defects reported, with Assets and Borrower and Mortgage Eligibility completing the top three categories of defects cited.

* A sub-category analysis of the Assets and Income/Employment categories found documentation to be the leading driver of defects within these two categories.

* Appraisal defects also increased in Q4, ending another multi-quarter trend of decline.

* Purchase share remained high in Q4, with the industry achieving defect parity for the quarter.

* Despite declining in terms of review share, FHA defects increased for the second consecutive quarter, as did conventional loans. USDA and VA loan defects continued to improve.

"After last quarter's historic high of 2.47%, the reduction in Q4's critical defect rate to a sub-2% level is encouraging and illustrates just how much the precipitous drop in origination volumes impacted lending operations," said ACES Executive Vice President Nick Volpe. "However, lenders are starting to see the GSEs take an aggressive stance on repurchase requests for loans with curable defects. In addition, HUD has yet to complete its reviews of some vintage FHA loan production, an area notorious for defects. All of this may spell trouble for lenders that are already financially strapped due to declining volumes."

Findings for the Q4 2022 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"Loan defects are one of the greatest sources of financial risk to lenders in today's tight origination market," said ACES CEO Trevor Gauthier. "The best defense against this kind of threat is a robust QC auditing platform like ACES, which helps lenders retain the value of their loan production by identifying the point of origin for loan defects within the manufacturing process and uncovering defect trends to help resolve these issues before they become the impetus for a repurchase request or sale on the scratch-and-dent market."

The Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

ACES executives will analyze the Q4 2022 ACES Mortgage QC Industry Trends Report findings and offer insights into what lenders can expect in future quarters during a webinar titled, "QC Trends and Industry Insights" as part of its ongoing QC NOW Web Series.

Visit the ACES Webinar page for upcoming registration details: https://www.acesquality.com/resources/webinars.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 11
2023
Awards and Honors, Business, Free News Articles

Denver Post Names ACES Quality Management a Recipient of Colorado Top Workplaces 2023 Award

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced it has been awarded a Top Workplaces 2023 honor by Denver Post Top Workplaces.

"ACES is proud to call Colorado home. While some of our team is remote, we have a tremendously talented workforce that operates out of our corporate headquarters in Denver and the surrounding area," said CEO Trevor Gauthier. "As much as we value our customers, we hold our employees in the same regard. Our success and innovative software solutions - not to mention this honor - would not be possible without them."

The Top Workplaces list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures 15 culture drivers that are critical to the success of any organization: including alignment, execution, and connection, just to name a few.

"Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees," said Eric Rubino, Energage CEO. "That's something to be proud of. In today's market, leaders must ensure they're allowing employees to have a voice and be heard. That's paramount. Top Workplaces do this, and it pays dividends."

About Energage

Making the world a better place to work together.™

Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 16 years of culture research and the results from 27 million employees surveyed across more than 70,000 organizations,  Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 2 of the top 3 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

May, 01
2023
Business, Free News Articles, Product Launches, Software

ACES Quality Management unveils ACES PROTECT® mortgage compliance testing module

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announces the addition of ACES PROTECT, a suite of automated regulatory compliance tests, to its flagship ACES Quality Management & Control® quality control (QC) auditing platform. ACES PROTECT enables lenders to reduce audit time and improve oversight by incorporating automatic compliance testing into their overall QC auditing environment.

"Given the nature of originations right now, calculation errors and other compliance missteps are even more costly," said ACES CEO Trevor Gauthier. "ACES PROTECT gives our clients an added layer of compliance protection that is seamless and cost-effective, enabling them to significantly increase audit productivity while still independently validating loan eligibility calculations."

Through ACES PROTECT, ACES users can easily access a suite of compliance checks within the ACES platform, including certification of loan estimate/closing disclosure calculations, high-cost mortgage and high-price mortgage loan testing, TRID fee tolerance, Qualified Mortgage (QM) tests and other critical compliance tests. ACES users can quickly and easily run compliance tests without leaving the system and automate tasks and exceptions for any alerts, significantly increasing audit productivity. ACES PROTECT provides complete visibility into its calculations via detailed loan-level reporting that clearly communicates a loan's compliance status. Users can select and pay for only the tests they need and automate tasks and exceptions for any alerts to control costs while increasing productivity and ensuring compliance.

"ACES PROTECT has allowed us to automate several of our manual fee compliance tests using a fully supported application, giving us greater efficiency, improved accuracy and better reporting," said Anthony DeAngelo, Director of Sourcing and Procurement for USAA's Managed Services department. "With ACES PROTECT, we're able to test using the parameters we set in ACES PROTECT and, if needed, change them on the fly. All of this gives us improved confidence when sharing our results with management, auditors and regulators."

To learn more, contact your ACES representative or request an ACES PROTECT demo at https://www.acesquality.com/demo.

About ACES Quality Management

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 2 of the top 3 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.acesquality.com/ or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 23
2023
Business, Free News Articles, Reports and Studies

Critical Defect Rate Reaches Report-High in Q3 2022, Per ACES Quality Management Mortgage QC Industry Trends Report

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the third quarter (Q3) of 2022. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q3 2022 report include the following:

* The overall critical defect rate increased 20.5% over Q2 2022, ending the quarter at 2.47% - a report high.

* Of the four major underwriting categories (Assets, Credit, Income/Employment and Liabilities), three saw moderate to significant increases in Q2 2022. Income/Employment remained the leading category of defects reported, despite continuing its multi-quarter trend of decline.

* A sub-category analysis of the Assets and Income/Employment categories uncovered troubling defect trends related to eligibility.

* Appraisal defects declined once again, now reflecting a multi-quarter trend.

* Purchase share dominated in Q3 2022, as expected given market conditions, while review share for FHA, USDA and VA loans increased.

* In a reversal of last quarter's findings, FHA defect share saw a moderate increase in Q3 2022, along with a slight defect increase in conventional loans. USDA and VA loan defects improved significantly last quarter.

"The overarching theme for this quarter's report is the effect of sharp declines in loan volume and interest rate volatility on lenders' operations. With purchase originations down nearly 20% quarter-over-quarter and close to 50% year-over-year, lenders are fighting to keep every potential piece of business that comes their way and, perhaps, becoming more aggressive in their borrower qualifications," said ACES Executive Vice President Nick Volpe. "Riding the line on eligibility provides little margin for error. Thus, lenders must continue emphasizing loan quality to ensure salability and long-term asset performance."

Findings for the Q3 2022 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"In our last report, we mentioned employment and loan documentation as areas of concern. As layoffs have continued since Q2 2022, we're seeing the ripple effects of interest rate volatility and changing market conditions surface in other areas of the loan manufacturing process, particularly in eligibility," said ACES CEO Trevor Gauthier. "With ACES, lenders can not only identify these immediate areas of concern but also view their QC findings within a historical context to pinpoint trends and execute immediate corrective actions to protect the integrity of their origination pipeline."

Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 2 of the top 3 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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