Business, Free News Articles

TRID Defects Down Slightly in Q2 2016 ARMCO Mortgage QC Industry Trends Report

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, announced it has released its ARMCO Mortgage QC Industry Trends report, covering the second quarter of 2016. Using the Fannie Mae loan defect taxonomy, the report details the analysis of post-closing quality control data from loan files and findings captured by the ACES Analytics benchmarking system.

After peaking in Q1 2016, the overall industry critical defect rate dropped to 1.63 percent in Q2, ending an upward trend spanning the previous three quarters. Defects in the Legal/Regulatory/Compliance category also waned in Q2, comprising 34 percent of all defects reported and marking the first decline in nine months. However, this category still represents the largest reported defect category.

"While TRID-related defects are still driving the majority of Legal/Regulatory/Compliance defects, we're seeing a decline in defects in this category as a result of corrective action planning lenders undertook through the first six months of 2016," said Phil McCall, COO for ARMCO. "As lenders determine the most effective strategies for addressing TRID-related defects, we expect to see this category decline further."

Loan Package Documentation defects increased slightly in Q2, accounting for 26.7 percent of reported defects in Q2 versus 26.4 percent in Q1. Also of note is the increase in defects reported in credit-driven categories in Q2. Income/Employment leads this group as the third most frequently reported defect category in Q2 at 9.8 percent, followed by Borrower and Mortgage Eligibility at 8.9 percent and Assets at 6.8 percent.

"Given the magnitude of compliance-related defects lenders were facing in Q1, it's not surprising to see upticks in other areas," said Avi Naider, CEO for ARMCO. "Now that lenders have begun to get a handle on their TRID-related defects, they should have more capacity to address those credit-related defects. Thus, we should see those categories normalize in Q3."

To view the full report, visit http://www.armco.us/knowledge/mortgage-qc-industry-report-2016-q2.

About ARMCO:

ARMCO - ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions. ARMCO's flagship product, ACES Audit Technology(tm), is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable.

ACES standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans. For more information, visit http://www.armco.us/ or call 1-800-858-1598.

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

Awards and Honors, Free News Articles

HousingWire Designates Chris Anderson of MCT to its Inaugural Insiders Award List

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT), an industry leading hedge advisor and developer of MCTlive!(TM), the award-winning secondary marketing software suite, announced that its chief administrative officer, Chris Anderson, has been named to HousingWire's inaugural Insider Awards list. The new list is designed to honor unsung heroes who are the cornerstone of every great company, whether in lending, servicing, investing or real estate.

The list is comprised of 26 winners from across the country who were selected by HousingWire's editorial staff based on contributions to their company's success in the last 12 months. The deciding factor to earn a spot on the list was not the winners' job title, but the way they performed that job.

"These winners are often a company's best-kept secret," said HousingWire Magazine Editor Sarah Wheeler. "Everyone within their company knows they are doing incredible work and we want to recognize the excellence they provide in a larger platform."

Those who made the list have a reputation for going above and beyond their assigned roles to help out their colleagues, their companies and their clients. They are company insiders who get things done and are known by the organizations they interact with as a professional who makes things happen in their department or division.

"I'm flattered to have been named to the 2016 Insiders list by HousingWire's editorial staff, but this award is really just a reflection of the dedication, drive and hard work that my teams deliver every day to continually grow and move MCT forward," stated Anderson. "I am grateful to be part of a company that fosters a collaborative, service-oriented, team environment that allows us to provide exceptional service to our clients while challenging and supporting our employees."

Notable is that MCT has been named Best Places to Work five years in a row, designated to the Workplace Excellence list, honored as one of the Healthiest Companies to work for, and boasts nearly a 100 percent employee retention rate. MCT has been experiencing significant growth, appearing on the Inc. 500/5000 list six years in a row, expanding offices, adding new employees, launching award-winning technology, and building its business into one of the most respected capital markets hedging and risk management advisory services firm in the mortgage industry.

"This year we launched HW Insiders to recognize the lesser-known, but no less important, stars of the mortgage finance industry," said HousingWire Editor-in-Chief Jacob Gaffney. "This list is one of a kind, bringing in talented individuals from across the entire housing economy. Prepare to be impressed."

About MCT:

Mortgage Capital Trading, Inc. (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!(TM), an award-winning real-time, trading and best-execution secondary marketing platform. MCT's LockCentral(TM) is the industry's largest outsourced centralized lock desk service. For more information, please visit www.mct-trading.com or call (619) 543-5111.

About HousingWire:

HousingWire is the leading independent source for news, commentary and analysis covering the entire mortgage banking and financial markets. Staffed by a core team of experienced journalists and editors, HousingWire delivers breaking news and opinions on U.S. housing and mortgage finance. HousingWire.com has a well-developed reputation for delivering today the news other trade outlets will be reporting on tomorrow - and our readers value the information they get from www.HousingWire.com first.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

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

Free News Articles, Internet and Websites

MetaSource Launches Integrated Mortgage Services Web Site

SALT LAKE CITY, Utah -- MetaSource, the leading provider of mortgage quality control (QC), risk management, and workflow automation solutions, announced it has launched Mortgage.MetaSource.com, a new, integrated web site for its suite of mortgage-related products and services.

The new site provides the industry with a singular resource for information on MetaSource's mortgage industry solutions, as well as resources and knowledge to improve loan quality via MetaSource's library of white papers and blogs. In addition, the new site also serves as single point of access for QLink and mintrak2, two of the SaaS solutions MetaSource gained in its acquisitions of Mortgage Compliance Advisors (MCA) and Titan Lenders Corp (Titan).

"This new site is really the capstone for the strategic acquisitions MetaSource has made in the mortgage industry over the past two years," said Colin Graf, Director of Marketing for MetaSource.

"Now that MCA and Titan have been fully absorbed into the organization, MetaSource is ready to go to market with an integrated suite of loan quality, risk management and automation solutions designed to streamline operations, ensure quality and improve profitability for mortgage lenders and servicers.

Learn more: http://mortgage.metasource.com/.

About MetaSource:

MetaSource is a technology driven provider of Business Process Outsourcing (BPO) / Business Process Management (BPM) services integrated with Enterprise Content Management (ECM) and workflow solutions and customer experience processes to meet clients' goals and objectives. They service a variety of industries for a national clientele through our global network of PCI Level 1, Version 3 compliant, SOC / AT101 Type II / AT 101 (formerly known as SAS70) and HIPAA compliant processing centers. MetaSource employs over 800 worldwide and supports more than 4,000 installations as EMC's largest distributor of the ApplicationXtender Content Management product suite through a network of over 130 Channel Partners.

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

Free News Articles, Insurance

EPIC’s Thompson Mackey Selected for Elite Lloyd’s Broker Academy in London

ATLANTA, Ga. -- EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, announced today that Risk Management Consultant Thompson (Tom) Mackey is one of 35 young insurance and risk management professionals from the U.S. and Canada selected to participate in the 2016 Andrew Beazley Broker Academy in London, England. The Academy is hosted by Lloyd's, the world's leading specialist (re)insurance market.

The Andrew Beazley Broker Academy at Lloyd's is designed to support and enrich the training that U.S. and Canadian broking firms provide to their high potential employees through a unique and intensive week in the Lloyd's Market in London.

The Academy's curriculum is designed for highly motivated individuals with approximately three to eight years' insurance experience, and it focuses primarily on deepening the participants' understanding of their existing areas of specialization.

The 2016 academy will run during the week of September 19th, offering the carefully-selected group of 35 attendees the opportunity to see Lloyd's through the eyes of the market's underwriters and brokers, gaining a detailed understanding of how business is transacted in the world's oldest, largest and most vibrant market for insurance.

Managing Principal and Practice Leader of EPIC's Financial Risk Solutions Practice, Bill Cosgrove, nominated Mackey for this prestigious opportunity, leading to his selection to participate in the Management Liability Track.

Cosgrove said, "I was very excited when I heard that Tom was accepted into the Beazley program. Beazley is a key strategic partner for EPIC and Tom's acceptance into the Beazley Broker Academy will go a long way towards strengthening our relationship. BBA is an innovative approach towards fostering a better understanding of the Lloyds marketplace for the next generation of industry leaders. Tom will come away with is a solid grasp of the unique aspects of the London market, enhanced product knowledge, and industry contacts that will serve him well in his EPIC career."

Mackey completed a summer-long college internship with EPIC and was then offered a full-time position following his graduation in August of 2014.

Since joining EPIC, Mackey has earned his Associate in Risk Management (ARM) designation and continues to develop his skills and expertise through education and training opportunities such as the Lloyd's Broker Academy.

About EPIC:

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 850 team members operating from offices across the U.S., providing Property Casualty, Employee Benefits, Specialty Programs and Private Client solutions to more than 13,000 clients.

With more than $200 million in revenues, EPIC ranks among the top 20 retail insurance brokers in the United States. Backed by the Carlyle Group, the company continues to expand organically and through strategic acquisitions across the country. For additional information, please visit http://www.epicbrokers.com/.

*PHOTO for media: Send2Press.com/mediaboom/16-0921s2p-mackey-300dpi.jpg

CONTACT:
David Hock
650-295-4608
dave.hock@epicbrokers.com

Nicole Conley
650-422-3156
nicole.conley@taniscomm.com

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

Awards and Honors, Free News Articles

San Diego Business Journal Names MCT to its Best Places to Work List for the Fifth Straight Year

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT), a recognized leader in mortgage risk management providing pipeline hedging, best-execution loan sales, and centralized lock desk services, announced that it has been named Best Places to Work by the San Diego Business Journal (SDBJ) for the fifth straight year.

MCT was ranked number 13 in the medium-sized company category (50 - 249 U.S. employees) and is one of only a hundred companies being recognized in all four categories. The award is designed to identify, recognize and honor the best places of employment in San Diego that benefit the county's economy, workforce and local businesses.

Founded in 2001 and headquartered in downtown San Diego, MCT has grown from a pipeline hedging services specialist into a fully-integrated provider of capital markets services and software. MCT's recently expanded office overlooks PetCo Park. The company also has offices in Flower Mound, Texas and and Bala Cynwyd, Pennsylvania. MCT employs over 80 people and continues to grow.

"We are extremely honored to have again been recognized by the San Diego Business Journal as one of the Best Places to Work in San Diego," stated Curtis Richins, president of MCT. "Winning this award for the fifth year in a row speaks volumes about MCT's corporate culture and the many programs and benefits we offer our employees. The entire management team at MCT is extremely appreciative of our team's hard work, passion and dedication."

The SDBJ puts companies that applied for the award through an extensive evaluation process that includes a detailed analysis of company workplace policies and practices along with a comprehensive employee survey. The combined scores determined the top companies and the final rankings.

The list-making companies were honored at an awards ceremony hosted by the SDBJ on August 11 with nearly 500 attendees. A special issue of the SDBJ profiled all of the companies selected in the publication's August 22 issue.

More information on the SDBJ's Best Places to Work in San Diego program can be found at http://www.BestPlacestoWorkSD.com.

About MCT:

Mortgage Capital Trading, Inc. (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in 2001 and headquartered in San Diego, the company also has offices in Pennsylvania and Texas. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program.

The company also develops and supports MCTlive!(TM), an award-winning real-time, trading and best-execution secondary marketing platform. MCT's LockCentral(TM) is the industry's largest outsourced centralized lock desk service. For more information, please visit http://www.mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

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

Free News Articles, Insurance

EPIC adds Mark Millard to Risk Solutions Practice

SAN FRANCISCO, Calif. -- EPIC Insurance Brokers and Consultants, a retail property, casualty insurance brokerage and employee benefits consultant, announced today that risk management professional Mark Millard has joined the firm's Stamford, Conn.-based EPIC Risk Solutions team as a Principal and Senior Producer.

Millard will be based in EPIC's Morristown, N.J. office and report to Steve Levene, Managing Principal of EPIC Risk Solutions.

Millard joins EPIC from EY where he was a senior manager in their Insurance Risk and Claims Practice based in New York. At EY, Millard led a team of risk professionals on countless Fortune 1000 and public entity insurance risk program assessments as well as numerous specialty projects for clients that included the development of an insurance purchasing framework; authoring a manual to negotiate insurance provisions in contracts; evaluating a commercial loan portfolios exposure to construction defect and warranty claims; and M&A due diligence. In addition, Millard developed and led EY's initiative in cyber insurance risk advisory services.

Prior to joining EY in 2008, Millard spent the first half of his career developing his technical insurance risk management skill set while working as an insurance risk manager in corporations that included UBS and Lend Lease.

"Our Northeast leadership team is very excited to have someone of Mark's caliber join our group," said Steve Levene. "His background and experience, risk management expertise and leadership skills will materially contribute to EPIC Risk Solution's future growth plans and the service excellence we deliver to our EPIC clients."

As one of the nation's fastest growing private insurance brokerage firms, EPIC has been on an aggressive national growth trajectory, successfully competing against the large, institutional brokers with an entrepreneurial, client-focused business model. Since The Carlyle Group became the firm's major investment partner in December 2013, EPIC has added multiple locations and new team members across the country, growing revenues from roughly $80 million to estimated run rate revenues of almost $250 million - a 212% increase.

Millard is a graduate of Montclair State University in New Jersey, where he earned a Bachelor of Arts (B.A.) degree and holds the Associate in Risk Management designation. Professionally, he has written and spoken extensively on a wide range of risk management and insurance topics, including cyber risk mitigation techniques and private equity's exposure to directors & officers liability claims.

Mark Millard can be reached at:
EPIC Insurance Brokers and Consultants
55 Madison Avenue - Suite 400, Morristown, NJ 07960
mark . millard [at] epicbrokers.com
973-241-1953 office

About EPIC:
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 850 team members operating from offices across the U.S., providing Property Casualty, Employee Benefits, Specialty Programs and Private Client solutions to more than 13,000 clients.

With more than $200 million in revenues, EPIC ranks among the top 20 retail insurance brokers in the United States. Backed by the Carlyle Group, the company continues to expand organically and through strategic acquisitions across the country. For additional information, visit http://www.epicbrokers.com/.

MEDIA CONTACTS:
Dave Hock, of EPIC
650.295.4608
dave.hock@epicbrokers.com

Nicole Conley
408.295.4309 x104
nicole.conley@taniscomm.com

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