Business, Free News Articles, Product Launches, Software

ARMCO Launches ACESXPRESS for Early Payment Defaults

DENVER, Colo. -- ACES Risk Management (ARMCO), the leading provider of enterprise quality management and control software for the lending industry, announced the release of ACESXPRESS(TM) for Early Payment Defaults (EPDs) to bolster lenders' existing audit programs in light of the recent increases in required monthly EPD audit volume.

"With unemployment figures on the rise due to the COVID-19 pandemic, the industry is bracing itself for a sharp increase in the number of EPDs on recently originated loans. Furthermore, EPDs are one of the strongest indicators of possible mortgage fraud, the likelihood of which also increases as borrowers feel a greater sense of urgency to secure financing for their home purchase," ARMCO CEO Trevor Gauthier said. "ACESXPRESS for EPDs provides a turnkey platform for managing sudden volume spikes in EPD audits while maintaining compliance with audit requirements. Because the system can be implemented within a week, ACESXPRESS for EPDs also minimizes the burden typically placed on existing staff when onboarding a new system, thus enabling lenders to begin realizing its benefits sooner."

Originally launched in 2016, ACESXPRESS delivers the power of the ACES Audit Technology(TM) platform in an easy-to-implement format for small and mid-sized lenders. Recognizing the need for a similar platform designed specifically for EPD audits, ARMCO refined the functionality of ACESXPRESS to deliver needed EPD audit support with a streamlined implementation timeframe. ACESXPRESS for EPDs includes:

* Minimal setup requirements and the ability to configure within a week;
* Full product support from ARMCO;
* Pre-configured audits, including ACES IQ for conducting EPD reviews; and
* A library of standard report templates.

"Responsiveness is key to managing loan quality," said Gauthier. "As economic and market conditions change, ARMCO is committed to delivering technology that supports lenders' audit needs and helps mitigate lending risk."

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 25 mortgage lenders, a third of the top 150 lenders and servicers 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 www.armco.us or call 1-800-858-1598.

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

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Business, Free News Articles, VAR and IT Consulting

Jordan Etem Networks Tackles Global Challenges Head-On with a Convergence of Innovations

LOS ANGELES, Calif. -- Jordan Etem Networks is a global leader in technological convergence for more adaptive and intelligent systems. Risks are around us all the time, says founder Jordan Etem. We are warned of risk all the time. Science is a reliable indicator of risk.

"When risk materializes, it can cause a convergence of problems to occur," says Etem. "It is vital to address the convergence of problems that are occurring. In order for solutions to work as intended, leading to breakthrough progress, solutions must be sustainable for enduring effectiveness. Jordan Etem Networks leads on convergence, leads on sustainability, and is able to dynamically address converging problems for enduring improvement."

What are the main converging problems emerging now? Healthcare systems needing stronger foundations, economies of scale dealing with major supply chain vulnerabilities, fiscal challenges impacting the labor market and government sustainability, an education system that is struggling to meet the needs of students, food shortages and humanitarian challenges that threaten the livelihoods of millions of people in developing countries. Technology and financial markets running away from the labor market. A real estate market in crisis because human behavior has radically changed during the pandemic.

Jordan Etem Networks is dedicated to accelerating improvements to solve converging problems that adversely impact every business, every community, every system worldwide. Through convergence, Jordan Etem Networks has the ability to streamline breakthrough solutions, factoring in every foundational system for inclusion and rapid progress. With a strong presence in 23 cities and regions worldwide, Jordan Etem Networks leverages computer science, advanced machine learning and artificial intelligence to unify and strengthen neural networks for breakthrough innovation and stronger communities. Jordan Etem Networks goes beyond theoretical application and has a strong and central presence for enduring and long-lasting systemic improvements.

"The rate of change due to technological progress has accelerated past what standard modes of operation can manage effectively. Vision and leadership is needed for personalization, for rapid decision making, and breakthrough development. Empowering leadership that can build more adaptive communities is needed now more than ever before," says Etem.

Collective Intelligence is now a matter of national security and economic prosperity. Collaborative systems, collaborative strategies, and collaborative leadership that can improve collective intelligence in real time is capable of dramatically improving people's lives and strengthening the economic engine for the long-term. Jordan Etem Networks is paving the way for radical improvements to digital and physical infrastructure worldwide bringing on-board the most trusted technology companies, leadership in the public and private sector, to build converging solutions that fit the new market realities for economic resilience and strength.

About Jordan Etem Networks:

Jordan Etem Networks is globally connected, reaching millions of people worldwide, with strong platform leadership that can deliver multi-faceted solutions to address the convergence of problems threatening global stability worldwide. Jordan Etem Networks shape markets for greater inclusion, for enhanced vision and improved personalization so systems emerge stronger from the ground up.

Learn more at: https://www.jordanjamesetem.com/

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*Photo caption: Jordan Etem leads the way on convergence.

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

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Advertising and Marketing, Business, Free News Articles, Product Launches, Software

Aclaró A.I. Announces Artificial Intelligence Platforms: SAM Sales and SAM Service – Helping Dealers Increase Sales and Lower Marketing Costs

CHICAGO, Ill. -- Aclaró AI, the game-changing Fintech built on sophisticated artificial intelligence technology, recently announced SAM (Sales AI multiplier) Sales and SAM Service products for its dealers and retail partners. These new tools let Aclaró A.I. dealer clients better retain customers, increase service revenue, and maximize sales. These tools are yet another example of how Aclaró A.I. has removed many of the key frictions and obstacles of applying Artificial Intelligence within the retail industry.

"SAM Sales and SAM Service represent the next step in helping our clients maximize sales opportunities with buyers at a lower cost of acquisition," said Aclaró A.I. CEO Carlos Galarce. "We are tremendously excited that SAM Sales and SAM Service let our clients leverage the power of artificial intelligence to sell, retain, and increase satisfaction of their customers. The initial installs are focused on the CDK DMS with fully integrated DMS installations including Fortellis completed in under 48 hours. Dealers can expect positive ROI within 30 days of installation."

"We and 20 group partners have been tracking Aclaró A.I.'s products and disruptive technology progress and I am extremely impressed by their AI applications and the ease of use of their technology, including DMS data and workflow integration using their GCP2 platform which Pohanka has in place with other applications. Their ability to implement new AI Engines and their know-how of the DMS data models and how to co-exist with the dealer workflow make us incredibly confident that their product set will positively affect the bottom line of Pohanka and that of any dealer who installs the Aclaró A.I. suite of products and disruptive technology solutions. Being up and running in 48 hours and delivering ROI in under 30 days is proof of the technology," said Andrew Carrington, CTO of Pohanka Automotive Group.

SAM Sales and SAM Service: Increasing Dealership Profitability...That Much Easier

SAM Sales and SAM Service is part of Aclaró A.I.'s state-of-the-art Artificial Intelligence platform which enables its clients to quickly deploy sophisticated risk management strategies. In turn, Aclaró A.I. clients can mitigate their risk, close more deals, optimize revenue, and increase return on investment.

SAM works by providing advanced AI computing power trained in retail automotive. Sophisticated automation lets you drastically reduce time-consuming manual processes required to analyze and predict customer demand and the inventory necessary to fill such demand. Intelligent marketing and sales programs can be implemented in mere seconds, putting the power of "Know Your Customer" at the fingertips of your Sales workforce. SAM Service has AI engines built-in to predict Defectors and help create programs to reduce defection and convert back to happy Customers.

SAM Service also lets Aclaró A.I. clients obtain more information about each service customer, offering personalized and attractive products to customers waiting in the service area. Ultimately, SAM Sales and SAM Service help Aclaró A.I. clients be more profitable while achieving stellar customer service ranking and increasing service revenue/ROI.

NADA/ATD Conference

The Aclaró A.I. team will be at the upcoming National Automobile Dealers Association ("NADA") Show in Las Vegas. From February 14 through February 17, the NADA Show brings dealers, industry leaders, manufacturers, exhibitors, and other key players together to learn about the latest tools and industry trends. If you would like to learn more about Aclaró A.I. and how it is disrupting the retail ecosystem, feel free to visit their booth at 516 Westgate Hall at the NADA/ATD Show. More information: https://show.nada.org/

About Aclaró A.I.

Aclaró A.I. is a technology company that builds customer-centric software for franchised dealerships. Through cutting-edge artificial intelligence technology, Aclaró A.I. customers can grow their auto and service sales, mitigate their customer attrition risk, and obtain higher return on investment. Visit Aclaró AI's website for more information about how Aclaró A.I. can help your auto dealership too. Learn more: https://aclaro.ai/

Related link: https://aclaro.io/

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Business, Free News Articles, Insurance

EPIC Adds Blake Chauvin as Vice President – Will Further Expand EPIC’s Risk Management Capabilities

SAN FRANCISCO, Calif. -- EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Blake Chauvin has joined the firm as a Producer in their Concord, California office.

Chauvin, will be responsible for risk management consulting and the design, placement and management of property and casualty insurance programs. He will primarily focus on Private Equity and M&A clients and their unique needs.

Chauvin brings over 20 years of experience in risk management and business consulting. He has a wealth of knowledge in working with clients in technology, energy, and healthcare, large retail and real estate. Prior to joining EPIC, Chauvin held positions with Alliant Insurance Services, Zurich North America and CNA Insurance.

Chauvin earned a Bachelor of Science in Mechanical Engineering and an MBA in Finance from California State University, East Bay where he graduated Cum Laude. He is a licensed property & casualty underwriter and holds an Associate in Risk Management designation.

"We are excited to have Blake join our firm, he will be able to bring significant expertise to our clients in the private equity and M&A space," said Curt Perata, Regional President, EPIC Insurance Brokers & Consultants, Concord, CA.

Blake Chauvin can be reached at blake.chauvin@epicbrokers.com or (925) 915.6620.

About EPIC Insurance Brokers & Consultants

EPIC Holdings, Inc. is the corporate parent overseeing investments across the entire EPIC platform. The firm's core retail insurance brokerage business, EPIC Insurance Brokers & Consultants, now has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients.

EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence. EPIC team members have consistently recognized their company as a "Best Place to Work" in multiple regions and as a "Best Place to Work in the Insurance Industry" nationally.

EPIC ranks among the top 15 retail insurance brokers in the U.S. Backed and sponsored by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit https://www.epicbrokers.com/.

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

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Business, Free News Articles, Reports and Studies

Latest ARMCO QC Trends Report Draws Correlation Between Lenders’ Profitability and Adaptability to Market

DENVER, Colo. -- 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 second quarter (Q2) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.

In Q2 2019, the overall critical defect rate declined for two consecutive quarters for the first time since Q3 2016, falling 5.5% to 1.72%. The industry's two-quarter decline in critical defects coincides with two consecutive quarters of strong but steady loan volume and a three-year high in lender profitability, according to the most recent Quarterly Performance Report issued by the Mortgage Bankers Association (MBA). In October 2019, the MBA Economic Forecast predicted 2019 origination volume to reach $2.06 trillion, its highest level since 2007.

The report's noteworthy findings include:
* Loan quality trends are positive: the overall critical defect rate in Q2 2019 fell 5.5% from the preceding quarter, with a 9.0% decline from the 2018 peak rate of 1.93% (Q4 2018)
* In Q2 2019, defects in Income/Employment and Credit, both core underwriting functions, declined 32.0% and 22.0% respectively, from the preceding quarter
* Interest rates in Q2 2019 were roughly a full point lower than Q2 2018 (3.3% vs 4.2%), which fueled a high refi-to-purchase ratio
* In Q2 2019, refinances comprised a higher percentage of all loans reviewed when compared to previous quarters, and were a driver in the quarter's lower critical defect rates
* In Q2 2019, critical defects on FHA loans underperformed conventional loans by a greater percentage than previous quarters

According to Nick Volpe, chief strategy officer at ARMCO, volume fluctuations like those seen in the quarters prior to Q1 2019 and Q2 2019 cause challenges for lenders, which often respond to sudden spikes and dips by adjusting their labor forces through layoffs, downsizing, re-allocating staff and hiring.

"These changes upset the status quo and usually result in more defects, because staff instability increases errors and oversights," he said. "When lenders adapt, usually when the market steadies, defects decrease. It is therefore safe to say that when lenders use technology that improves their scalability, they increase profitability faster than those who rely on manual processes."

"The positive benefits of technology like ACES go way beyond the immediate boost to speed and accuracy," said Phil McCall, president of ARMCO. "As the data reveals, they have a real impact on the speed to which lenders can return to heightened profitability. It's extremely satisfying to know that we're enabling our customers to not just reduce costs, but also to proactively increase profits."

ARMCO's Mortgage QC Industry Trends Reports are 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.

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™, 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, Insurance

David Thoke joins EPIC in Los Angeles

LOS ANGELES, Calif. -- EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that David Thoke has joined the firm as Managing Principal of the firm's Southwest Risk Management Practice.

Thoke will be based in Los Angeles, California and report to KJ Wagner, President of EPIC's Southwest Region. In his new position, Thoke is responsible for new business development and the design, placement and management of property and casualty insurance programs, providing risk management strategies and solutions for mid-market and large clients.

Thoke joins EPIC from Willis Towers Watson, where he spent the last 15 years of his career. At Willis, he was serving as Executive Vice President of Willis North America, and prior to that, he spent 25 years with Marsh.

"We are thrilled to continue the growth of our Risk Management operations in the Southwest Region," said EPIC's KJ Wagner. "David's extensive background brings a wealth of knowledge and rich industry experience to the team. I could not be more excited to have David join us."

"EPIC's operations in the Southwest continue to grow by welcoming power houses like David," said Jim Gillette, Regional President, Pacific South. "This is exciting for all of us, and I look forward to officially welcoming his expertise and watching our clients benefit from our ongoing growth and collaboration across the organization."

David Thoke can be reached at david.thoke@epicbrokers.com or 626-297-5551.

About EPIC Insurance Brokers & Consultants

EPIC Holdings, Inc. is the corporate parent overseeing investments across the entire EPIC platform. The firm's core retail insurance brokerage business, EPIC Insurance Brokers & Consultants, now has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients.

EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence. EPIC team members have consistently recognized their company as a "Best Place to Work" in multiple regions and as a "Best Place to Work in the Insurance Industry" nationally.

EPIC ranks among the top 15 retail insurance brokers in the U.S. Backed and sponsored by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit https://www.epicbrokers.com/.

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Business, Free News Articles, Insurance, Transportation

EPIC Adds Sheryl Marshall in Napa, California

NAPA, Calif. -- EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Sheryl Marshall has joined the firm as Principal within the firm's Moving & Storage Practice.

Marshall will be based in Napa, California and report to John Sames, Senior Vice President. In her new position, Marshall is responsible for new business development and the design, placement and management of property and casualty insurance programs, providing risk management strategies and solutions for mid-market and large clients.

Marshall joins EPIC from Paul Hanson Partners, where she spent the last 19 years of her career. While with Paul Hanson Partners, Marshall served as a Senior Vice President, providing strategic risk solutions to her clients within the Moving & Storage Industry, primarily on the West Coast.

"We are thrilled to continue the growth of our Risk Management operations in Napa," said EPIC's John Sames. "Sheryl is a well-respected, highly strategic, and consultative risk management professional who will deliver great value to our clients and to other EPIC team members. I could not be more excited to have Sheryl join our Moving & Storage team, headed by Lou Hefter."

Sheryl Marshall can be reached at sheryl.marshall@epicbrokers.com or (707) 666-1477.

About EPIC Insurance Brokers & Consultants

EPIC Holdings, Inc. is the corporate parent overseeing investments across the entire EPIC platform. The firm's core retail insurance brokerage business, EPIC Insurance Brokers & Consultants, now has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients.

EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence. EPIC team members have consistently recognized their company as a "Best Place to Work" in multiple regions and as a "Best Place to Work in the Insurance Industry" nationally.

EPIC ranks among the top 15 retail insurance brokers in the U.S. Backed and sponsored by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit https://www.epicbrokers.com/.

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Business, Free News Articles, Insurance

EPIC Adds Scott Weiss as Principal – Addition Further Strengthens EPIC’s Risk Management Operations in California

SAN FRANCISCO, Calif. -- EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, announced today that Scott Weiss has joined the firm as a Principal in their Risk Management Practice.

Weiss will be based in Concord, California and report to Curt Perata, Regional President. In his new position, Weiss is responsible for new business development and the design, placement and management of property and casualty insurance programs, providing risk management strategies and solutions for mid-market and large clients.

Weiss brings over 27 years of experience to his role with EPIC. He has a strong background in leading regional teams in the design and implementation of complex risk management programs in real estate, food systems, manufacturing, wholesale and consumer products. In addition to his work in these industries, he has focused on mergers & acquisitions due diligence.

Weiss comes to EPIC from USI Insurance Services and previously held positions with Marsh, Aon, Willis and AJ Gallagher.

"We are excited to continue the growth of our Risk Management operations in California," said Curt Perata, Regional President. "Scott's broad industry knowledge and risk management experience will add to our already strong Risk Management Practice. I could not be more excited to have Scott join the team."

Scott Weiss can be reached at scott.weiss@epicbrokers.com or (925) 989-6632.

About EPIC Insurance Brokers & Consultants

EPIC Holdings, Inc. is the corporate parent overseeing investments across the entire EPIC platform. The firm's core retail insurance brokerage business, EPIC Insurance Brokers & Consultants, now has more than 2,600 team members operating from more than 80 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs, and Private Client solutions to EPIC clients.

EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence. EPIC team members have consistently recognized their company as a "Best Place to Work" in multiple regions and as a "Best Place to Work in the Insurance Industry" nationally.

EPIC ranks among the top 15 retail insurance brokers in the U.S. Backed and sponsored by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country.

For additional information, please visit https://www.epicbrokers.com/.

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*Photo caption: Scott Weiss has joined EPIC as a Principal in its Risk Management Practice.

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Awards and Honors, Business, Free News Articles, Insurance

EPIC’s Kamran Khaliq Recognized as 2019 ‘Young Gun’ by Insurance Business America

NEW YORK, N.Y. -- EPIC Insurance Brokers and Consultants, a unique and innovative national retail insurance brokerage and employee benefits consulting firm, announced today that Kamran Khaliq, Vice President, Private Equity and M&A, has been named a 2019 Insurance Industry "Young Gun" by Insurance Business America (IBA).

According to IBA, this recognition represents, "an annual look at the young insurance professionals who are inspiring their peers with their expertise and passion for the industry - individuals who have managed to stand out in a competitive pool of talent, some with only a few years' experience in the business." All those being recognized are under the age of 35.

Khaliq began his insurance industry career in 2014, following his graduation from Rutgers, The State University of New Jersey-New Brunswick, where he earned a Bachelor's Degree, Cum Laude, with a Double Major in Economics and Political Science and a Minor in Sociology.

Said Marc Kunney, President, Risk Management for EPIC Insurance Brokers and Consultants, "Kamran has been an absolute standout since joining our firm in 2017 and we are both pleased and proud to see him recognized by IBA in this way. His expertise and passion for our business are motivating to all he works with, other EPIC team members and our clients, alike."

Kamran Khaliq can be reached in New York at (212) 295-5590 or kamran.khaliq@epicbrokers.com.

About EPIC Insurance Brokers & Consultants

EPIC is a unique and innovative retail property and casualty and employee benefits insurance brokerage and consulting firm. EPIC has created a values-based, client-focused culture that attracts and retains top talent, fosters employee satisfaction and loyalty and sustains a high level of customer service excellence.

EPIC team members have consistently recognized their company as a "Best Place to Work" in multiple regions and as a "Best Place to Work in the Insurance Industry" nationally.

EPIC now has more than 2,000 team members operating from more than 70 offices across the U.S., providing Property and Casualty, Employee Benefits, Specialty Programs and Private Client solutions to EPIC clients.

With run rate revenues greater than $600 million, EPIC ranks among the top 15 retail insurance brokers in the U.S. Backed and sponsored by Oak Hill Capital Partners, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit https://www.epicbrokers.com/.

*PHOTO link for media: https://www.Send2Press.com/300dpi/19-1014s2p-Kamran Khaliq-300dpi.jpg

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Business, Free News Articles, Reports and Studies

ARMCO QC Trends Report: Loan Quality Corrects with Market’s Upturn

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 first quarter (Q1) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology(TM).

"Q1 2019 revealed the loan quality correction we anticipated after Q4 2018, but while there are many positives related to the overall market's upturn, we saw an increase in defects related to key underwriting and eligibility functions," said Nick Volpe, chief strategy officer for ARMCO. "This continues a trend that persisted the entirety of 2019. Lenders shouldn't take this lightly."

The report's noteworthy findings include:
* The critical defect rate fell 6%, from 1.93% in Q4 2018 to 1.82% in Q1 2019
* Defects related to core underwriting and eligibility functions continued to increase, with more defects attributed to Income/Employment than any other category
* Critical defects attributed to missing, expired and/or incorrect documentation continued to be volatile (24% in Q3 2018, 16% in Q4 2018, and 24% in Q1 2019) and noted a substantial increase from the prior quarter
* Compliance-related critical defects fell to their lowest level since Q1 2016, likely the result of greater lender investment in compliance technologies
* Defects related to Property and Appraisal increased noticeably from the previous quarter but remained low overall
* Government-insured loans accounted for a slightly higher share of all loans in the benchmark with FHA, VA and USDA loans comprising 41% of all loans reviewed

The Q1 2019 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.

"Refi-dominant markets can have a positive impact on defect rates," said Phil McCall, president of ARMCO. "But when volume goes up, individual workloads increase, turn times extend and mistakes tend to increase. Lenders who leverage technology wisely scale much better and expose themselves to fewer losses as a result."

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 http://www.armco.us/ or call 1-800-858-1598.

Related link:

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