Business, Free News Articles, Regional Events

Loan Quality Expert Duane Gilkison to Speak at ACES ENGAGE

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has added Duane Gilkison, senior director of loan quality at Fannie Mae, to its speaker line-up for the upcoming ACES ENGAGE conference, taking place at the historic Broadmoor Hotel in Colorado Springs, May 23 - 25, 2022. Gilkison will speak on manufacturing quality and quality control best practices.

Gilkison has more than twenty years of banking and compliance experience. Before joining Fannie Mae, Gilkison worked at PNC Financial Services Group for more than a decade, starting as vice president of operations manager and eventually becoming senior vice president of credit risk. During his tenure at PNC, Gilkison was responsible for all operational areas of credit risk management, leading credit policy, origination quality control, servicing quality control, home equity quality control and audit management teams.

"Given the potential effects of inflation and the purchase-driven mortgage market on loan quality, Duane Gilkison's robust credit risk and loan quality compliance expertise make him an important and welcomed addition to the ACES ENGAGE agenda," ACES CEO Trevor Gauthier said. "Lenders of all stripes must be prepared to shore up their defenses to protect against fraud and defects, and with ACES ENGAGE, we want every attendee to leave with a deeper understanding of proactive quality assurance and compliance and feeling well-equipped to adjust their strategies in the pursuit of maintaining compliance, protecting loan quality and mitigating risk."

ACES ENGAGE will offer a mix of general session presentations, panel discussions and social activities. Attendees have the opportunity 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-2022

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:

* 3 of the top 5 and more than 50% of the top 50 independent mortgage lenders;

* 7 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 1 of the top 3 credit unions in the USA.

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/

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Business, Free News Articles, Product Launches, Software

Maxwell Announces Launch of MaxDiligence, a Tech-Powered Due Diligence and Quality Control Service for Lenders

DENVER, Colo. -- Today, leading digital mortgage platform Maxwell released MaxDiligence, a new offering that provides Due Diligence and Quality Control services for its clients. The latest feature in Maxwell's suite of tools designed for community lenders, MaxDiligence is a new scalable way to gain efficiency and generate reliable results. This service uses tech-powered features alongside an experienced team of industry veterans to save lenders time and money across a wide array of asset types.

Through MaxDiligence, Maxwell can create a custom experience for any transaction type increasing efficiency, minimizing risk, and improving performance. Beyond tech-enabled features that ensure adherence to agency and government guidelines, MaxDiligence also benefits from deep industry expertise. Lenders using the service gain access to Maxwell's staff of seasoned underwriting professionals with a diverse background of loan experience.

MaxDiligence is an important addition to Maxwell's growing set of offerings that help community lenders to gain productivity throughout the lending process. Maxwell's Point of Sale technology recently surpassed $6 billion in monthly loan volume, and our Fulfillment Platform, providing onshore outsourced processing, underwriting, and closing services provides superior operational leverage for lenders. Today, the Maxwell Fulfillment Platform is one of the country's top onshore fulfillment providers. By applying technology learnings from its other features to Due Diligence and QC services, Maxwell is able to offer a more transparent, efficient, and faster process.

"The launch of MaxDiligence is a significant step towards an all-inclusive solution for our clients," said Maxwell President Brian Simons. "Maxwell continues to grow beyond a point-of-sale solutions provider, anticipating and solving the daily challenges community lenders face in the market today. Community lenders have historically been underserved in these offerings, and more recently, lenders both large and small are feeling the pressure with large backlogs in diligence services. MaxDiligence, will provide a significant value, using automation to help our clients focus on streamlining their process."

The MaxDiligence service is spearheaded by some of the industry's most tenured leadership. Sadie Gurley, a veteran with over 25 years of experience managing residential mortgage platforms and a recent addition to Maxwell, will help to head up the new offering. Alongside her is Kyle Waltz, a digital risk expert joining Maxwell from SourcePoint. Together, the MaxDiligence leadership team holds over 75 years of mortgage operational experience.

Learn more: https://himaxwell.com/maxdiligence

About Maxwell

Maxwell empowers mortgage lenders to enhance borrower experience, increase efficiency, and improve their economics by intelligently automating workflow through its digital platform and technology-powered services. Hundreds of mortgage lenders, banks, and credit unions nationwide use the Maxwell platform to serve thousands of homebuyers every day. Founded in 2015, Maxwell is a member of the Mortgage Bankers Association and is proud to be built in Denver, Colorado. Since 2017, it has been named one of the most innovative companies in real estate by HousingWire Magazine.

Learn more: https://himaxwell.com/

Related link: https://himaxwell.com/

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Business, Free News Articles, Product Launches, Software

ARMCO Launches QC NOW Web Series to Support QC Professionals

DENVER, Colo. -- ACES Risk Management (ARMCO), the leading provider of enterprise quality management and control software for the lending industry, announced the launch of QC NOW, a web series covering current regulatory and operational changes related to quality control, compliance and risk for independent mortgage lenders, banks and credit unions.

"Now more than ever, information is power, and with so much changing so quickly in the lending and financial services landscape, it can be difficult to keep pace and stay informed," ARMCO CEO Trevor Gauthier said. "The QC NOW web series is yet another way ARMCO continues to support financial services quality control and compliance professionals by providing up-to-date information on regulatory and operational changes in an easily digestible format."

The series launches on May 28, 2020 at 11 a.m. Pacific Time (PDT) with "QC Operations in the New World - A Look Into the COVID-19 Era," hosted by ARMCO President and Chief Operating Officer Phil McCall. The webinar will cover what has changed for lenders since the start of the pandemic, the immediate and overall effects of these changes and how qc professionals can prepare for what is still to come.

Other upcoming topics for the web series include:
* How to Ensure Data Integrity with HMDA Reviews
* Mortgage QC Industry Trends - Future Outlook
* QC Reporting Essentials
* State of Servicing QC

To view the upcoming schedule and register to attend an upcoming presentation, visit https://www.armco.us/learn/webinars/qc-now.

About ARMCO

ACES Risk Management (ARMCO) is the leading provider of enterprise quality management and control software for the financial services industry. More than half of the top 50 lenders and two of the top five U.S. commercial banks rely on ACES Audit Technology(tm) to improve audit throughput and quality while controlling costs. 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, ARMCO clients get responsive support and access to our experts to maximize their investment. For more information, visit https://www.armco.us or call 1-800-858-1598.

*LOGO link for media: https://www.send2press.com/300dpi/20-0401s2-armco-logo-300dpi.jpg

Related link: https://www.armco.us/

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Business, Free News Articles

MQMR Promotes Mabel Lee to Head of Warehouse Due Diligence, Adds Scott Weintraub to Lead Internal Audit Department

LOS ANGELES, Calif. -- Mortgage Quality Management and Research, LLC (MQMR) announced today that it has promoted Mabel Lee to Warehouse Due Diligence Manager and hired Scott Weintraub as Internal Audit Manager.

"One of the main reasons mortgage lenders turn to MQMR to help them address their audit, risk and compliance needs is the depth of knowledge our team possesses," said MQMR President Michael Steer. "MQMR is privileged to have two highly skilled professionals in Mabel Lee and Scott Weintraub on our team to help guide our clients through these challenging times and bridge the gap between risk and compliance."

As Warehouse Due Diligence Manager, Lee oversees MQMR's skilled team of operations risk managers, who perform due diligence reviews and special projects. Lee first joined MQMR as Internal Audit Manager in June 2018, bringing more than 30 years of experience in risk management, credit, quality control, underwriting and project standards.

Lee previously served as a Customer Account Risk Manager, Credit Risk Manager and Quality Control Manager at Fannie Mae and as a Customer Performance Analysis Supervisor and Senior Mortgage Analyst for Freddie Mac. She holds an Executive Master of Business Administration degree from Claremont Graduate University and a Bachelor of Science degree in business administration from San Francisco State University.

Having served as Chief Compliance Officer for several large mortgage lenders in both retail and wholesale mortgage lending channels, Weintraub possesses more than 20 years of experience in legal and regulatory compliance, internal audit management and organizational risk management. In his role as Internal Audit Manager, he oversees a team of experienced internal auditors, whose mission is to assist mortgage lending clients by identifying areas of operational and compliance risk.

Weintraub is a sought-after speaker and thought leader and has appeared on panels at several industry conferences, including the MBA's Regulatory Compliance and Secondary Market conferences. He holds a Juris Doctor degree from George Washington University School of Law and a Bachelor of Arts degree in political science from Stanford University.

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

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

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Business, Free News Articles, Software

ARMCO Reduces QC Turn Times with ACES’ New Parallel Workflow Capability

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced several product enhancements to its auditing platform, ACES Audit Technology(TM). This upgrade introduces a new parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output. The ultimate result of this feature is faster loan delivery.

ACES' new parallel workflow increases efficiency by enabling multiple analysts to concurrently evaluate different parts of the same loan. It also automates task prioritization to assure the fastest cycle times for each loan.

"Most lenders at least attempt some level of parallel activity in their QC [quality control] workflow," said Trevor Gauthier, ARMCO's new CEO. "Our decision to enable parallel workflow was in direct response to market demand. It replaces workarounds that rely on email and spreadsheets with a fully auditable process in a 100 percent secure environment."

Other noteworthy enhancements include ACES' new auto-answer feature that uses business rules to automatically answer audit questions based on available loan data, and enhanced single sign-on that can reduce on-boarding time by 50 percent or more.

ACES' newest upgrade was introduced at the ACES Power User Summit that took place on Nov. 10-12, 2019 in Fort Lauderdale, Fla.

"ARMCO's user summits are a very important source of information for our clients and our organization," said Gauthier. "We have the opportunity to learn from one another, which enables us to create lasting solutions for our clients' most pressing needs. Client collaboration is at the heart of everything we do at ARMCO. When our clients are successful, we are successful."

About ARMCO - ACES Risk Management

Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider of risk management software. ARMCO's product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology(TM), has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing.

ARMCO's consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality.

For more information, visit http://www.armco.us/ or call 1-800-858-1598.

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Business, Free News Articles

MQMR: FNMA Updates to Selling Guide Compels Lenders to Conduct Independent Audit Reviews of QC Process Before Year’s End

LOS ANGELES, Calif. -- Mortgage Quality Management and Research, LLC (MQMR) President Michael Steer reminded lenders to conduct an independent audit review of their quality control (QC) process immediately in deference to updates to "Subpart D1, Lender QC Process" of the Fannie Mae Selling Guide.

Among other changes, Fannie Mae made explicit its requirements for independently auditing QC processes, which must be included in seller/servicers' QC plan and implemented by January 1, 2020:

* The lender must have an independent audit process to ensure that its QC process and procedures are followed by the QC staff, and that assessments and conclusions are recorded and consistently applied. The findings must be accurately recorded and consistent with the defects noted in the lender's system of record.

* Results of the QC audit must be distributed to senior management. It must include an affirmative statement that no influence from other business units or bias in the QC conclusions was apparent. Management must distribute the results to the appropriate areas within the organization and an action plan must be established for remediation or changes to policies or processes, if appropriate. The lender must provide a copy of the QC audits and the audit of the QC process to Fannie Mae upon request.

"Regulators have been and are increasingly requiring lenders to build a firewall between the review/audit function and the processes and departments under said review and provide evidence that such a firewall exists. With both monetary and labor resources at a premium, this can be a tall order for a lender to achieve internally," said Steer. "Outsourcing this function to an experienced third party helps ease the financial and personnel burdens of meeting these kinds of changes, especially when given a narrow window for compliance like Fannie Mae has done here."

"Unofficially, we're also hearing that lenders that have not performed an audit of their QC function within the last two years will be cited for this oversight in their next MORA exam so lenders would be well advised to complete this audit as soon as possible," Steer said. "With January 1, 2020 right around the corner, lenders are focusing their efforts today on volume, end-of-year MERS audits, financial audits and 2020 strategic planning. Thus, it makes sense for Fannie Mae seller/servicers to partner with MQMR, the industry leader for internal audit, to perform an audit of the lenders' QC functions to meet these new requirements."

For more information on Fannie Mae's requirements for independent QC process audits, read MQMR's free compliance newsletter, "FAQ: FNMA Update - It's All About the Independence!"

About Mortgage Quality Management and Research, LLC:

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

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Awards and Honors, Business, Free News Articles, Software

ARMCO’s Sharon Reichhardt Wins HW Tech Trendsetters Award

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, today announced that Sharon Reichhardt, the company's vice president of client success, has been named a winner of HousingWire's inaugural Tech Trendsetters award.

The HW Tech Trendsetters 2019 recognizes the 50 most impactful and innovative technology leaders serving the housing economy. Similar to the HousingWire Tech100 award, which honors the 100 most innovative companies in mortgage and real estate tech, Tech Trendsetters recognize the people that drive innovation for their mortgage and real estate clients. The HW Tech Trendsetters award is selected based on a candidate's professional success over the past 12 months.

Reichhardt's contributions to ARMCO's growth and high client satisfaction are many. She created the company's client-focused policies to extend far beyond the sale and into a unique hands-on partnership with each client to ensure success. Reichhardt also conceptualized the company's Fraud Case Manager, a first of its kind technology ARMCO launched in 2018, to help clients manage fraud investigations in one central, secure system.

"It's such an honor to be selected by an organization as respected as HousingWire, and to be listed among such accomplished professionals," said Reichhardt. "It's confirmation that the industry understands the importance of high-touch, high quality customer experience in moving technology forward. And that's exactly what we do here at ARMCO."

About ARMCO

Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider for transaction risk management software. ARMCO's product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology(TM), has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing.

ARMCO's consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality. For more information, visit http://www.armco.us/ or call 1-800-858-1598.

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Business, Free News Articles, Software

ARMCO Names Trevor Gauthier Chief Executive Officer

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, today announced that Trevor Gauthier has been appointed as CEO and board member of ARMCO. Avi Naider, who led ARMCO for the past 10 years as CEO, will transition to the board of directors.

Gauthier was identified by New Capital Partners (NCP), the private equity firm that acquired ARMCO in July 2019. He will lead the development and execution of ARMCO's short, mid, and long-term vision, which will focus on customer satisfaction, expansion, and employee growth.

Gauthier brings 20 years of executive experience in enterprise SaaS technology solutions, and has a proven track record of leading companies to achieve exponential growth both organically and through acquisition. Most recently, he was president and chief operating officer at loan origination and enterprise mortgage technology provider Mortgage Cadence, an Accenture company. During his 14-year tenure with the company, which covered a period of time that included the financial crisis and the increased compliance and regulatory pressures that followed, Mortgage Cadence grew from a near start up to one of the top providers in its segment, and achieved significant expansion in its number of employees, revenue, profitably and sales volume.

"I've admired the vision New Capital Partners brings to the fintech space and all of the organizations that are part of its portfolio and I'm excited about the opportunities created by ARMCO's strength and momentum," said Gauthier. "I applaud Avi for all he has accomplished for the company. I'm looking forward to collaborating with our customers and working with the ARMCO team to increase customer satisfaction and expand our risk management and loan quality footprint in the marketplace."

"Trevor has a proven track record leading fintech companies that provide high quality enterprise solutions," said Naider. "He's a great choice to guide the company into its next phase of growth, and we're looking forward to the advances ARMCO will make under his direction."

About ARMCO

Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider for transaction risk management software. ARMCO's product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology(TM), has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing.

ARMCO's consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality. For more information, visit http://www.armco.us/ or call 1-800-858-1598.

About New Capital Partners

New Capital Partners (NCP) is a private equity firm comprised of former operators headquartered in Birmingham, Ala. NCP makes investments in niche technology and services companies in the healthcare, financial and business services industries. Leveraging its extensive operational experience, the NCP team helps create significant value in portfolio companies by cultivating true partnerships with management teams and focusing on one core goal: Building Great Companies. For more information, please visit http://www.newcapitalpartners.com/.

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Business, Free News Articles

MQMR Bolsters Executive Team with Addition of Mortgage Industry Veteran Stephen Sherman as COO

LOS ANGELES, Calif. -- Mortgage Quality Management and Research, LLC (MQMR) announced today that seasoned mortgage and real estate professional Stephen Sherman has joined the firm as Chief Operating Officer. Sherman brings more than 30 years of experience in mortgage servicing, secondary marketing, warehouse lending, commercial real estate sales, corporate consulting and REO management services to his new role at MQMR, where he will be responsible for overseeing MQMR's day-to-day operations and managing the firm's long-term growth strategy.

"Helping our clients succeed in today's challenging mortgage environment is Priority No. 1 at MQMR, and doing so requires us to consistently produce best-in-class services and deliverables to ensure our clients can adequately address risk within their organizations - wherever it may lie," said MQMR President Michael Steer. "Having provided similar services to mortgage companies throughout his career, Stephen Sherman brings an intimate knowledge of the core services MQMR provides and is uniquely qualified to help us continually refine our internal processes and systems to achieve our desired service levels and outcomes."

Prior to joining MQMR, Sherman founded Sherman Consulting, a mortgage and real estate consulting firm that specialized in providing managerial coaching, risk assessment reviews and process improvement plans. A serial entrepreneur, he also co-founded Blueprint Asset Management, an REO asset management service dedicated to managing and liquidating high-value real estate. In addition, Sherman also formed and served as Chief Operating Officer of Green River Financial and Infinity Valuation Services, two sister companies of leading real estate service provider Green River Capital LC, a subsidiary of Radian Group, Inc. When not serving in permanent roles, Sherman also provided contracting services as an auditor in due diligence reviews to investors of bulk loan purchases.

"Accepting the role of COO was an easy decision after having worked with the incredible talent at MQMR and witnessed the priority placed on delivering meaningful results to clients and the firm's family-focused, supportive culture," Sherman said. "Moving forward, my goals as COO are very simple - support our internal divisions by advocating for the necessary resources, tools and training to deliver best-in-class service to our clients; infuse MQMR's corporate mission statement, vision statement and core values in the day-to-day operations of the company; and maintain alignment between internal operations and the needs of our current clients and prospects by working seamlessly with our sales team."

About Mortgage Quality Management and Research, LLC

MQMR helps its clients climb higher by bridging the gap between risk and compliance through its suite of risk-related services. MQMR provides mortgage compliance consulting throughout the origination process, conducting internal audit risk assessments and ongoing internal audit support, servicing QC and subservicing oversight to master servicers, and filling the void of meeting vendor management oversight requirements. With 2,000+ operational reviews of mortgage companies, subservicers, document custodians, and vendors annually, MQMR prides itself on being the mortgage industry partner of choice for audit, risk and compliance. To learn more, visit mqmresearch.com, subsequentqc.com, and hqvendormanagement.com.

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Business, Free News Articles, Reports and Studies

ARMCO Q3 2018 QC Trends Report: Defect Trends Reflect Lower Volume, Hyper-Competitive Market

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers the third quarter (Q3) of 2018, and provides loan quality findings for mortgages reviewed by ACES Audit Technology(TM).

"You can tell a lot about a market from the percentage and distribution of critical defects," said Phil McCall, president and COO of ARMCO. "In Q3 2018, defect activity indicates that lenders are still dealing with the quality issues that result from downsizing. We also see how lower volume markets can impact the quality of their loans."

The report's noteworthy findings include:
* In Q3 2018, the critical defect rate reached 1.89%, its second highest level since the TRID rule went into effect in October 2015, increasing roughly 11% from the previous quarter's rate of 1.71%.
* In Q3 2018, critical defects attributed to Loan Package Documentation spiked nearly 23% over the previous quarter, making Q3 2018 the fourth consecutive quarter to see a significant increase in this category.
* In Q3 2018, the number of defects attributed to the Income/Employment category dropped almost in half, from 22.73% in the previous quarter to 12.50%.
* In Q3 2018, FHA loans accounted for a disproportionate number of critical defects, comprising 28.20% of originated loans in the benchmark, but accounting for 49.55% of loans with critical defects.

"Downsizing can leave lenders with a less qualified workforce, which in turn leads to more errors, particularly with complex transactions and usually with loan documentation," said McCall.

The Q3 2018 Trends Report revealed that the categories of Credit and Liabilities each increased moderately, and the percentage of Property Appraisal-related defects reached its highest point of the year. "This aligns with lower overall production and compressed margins, two key components of a hyper-competitive market," explained McCall. "In an effort to win market share, investors often become more aggressive by expanding eligibility guidelines, while originators try to make up for declining volume by submitting loans of lower than usual quality."

The Q3 2018 ARMCO Mortgage QC Industry Trends Report is based on nationwide post-closing quality control loan data from over 90,000 unique loans selected for random full-file reviews, as was captured by the company's ACES Analytics benchmarking software. Defects listed in the report are categorized using the Fannie Mae loan defect taxonomy.

"Analytics in quality control is vital in contracting markets," said McCall. "Lenders that don't use analytical technology will see more defects typical in lower volume, hyper-competitive markets, as well as the delays, fees, fines and even buybacks that can come with them."

ARMCO Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.armco.us/learn/reports.

About ARMCO:
Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider of risk management software. ARMCO's product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology(TM), has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing.

ARMCO's consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality. For more information, visit https://www.armco.us/ or call 1-800-858-1598.

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