Category: Article

July 19, 2021

Enter Stage Left: The CFPB Ushers Mortgage Servicing Compliance Into Its Next Act

While the events of 2020 were worthy of a Shakespearian drama, it seems the mortgage industry may have only seen Act I, as 2021 has brought with it fresh challenges on the regulatory front. Chief among these is the Consumer Financial Protection Bureau’s April 1 bulletin, warning mortgage servicers that it would begin increasing its scrutiny of servicer’s handling of forbearance requests and loss mitigation efforts after those forbearances expire.

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June 22, 2021

Critical defects in mortgage files reach highest level in years

The critical mortgage loan file defect rate for 2020 was the highest since Aces Quality Management started tracking this data in 2016. Loan documentation findings played a significant role in the increase, the audit technology provider found.

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June 21, 2021

Are Lenders Overdue for a Risk Management Wellness Check?

Expert Perspectives: Steve Spies, Principal & Founder of SWS Risk Advisory LLC and Former Fannie Mae Executive

  • What are the key risks lenders need to monitor and manage?
  • How can lenders prevent exposure to regulatory and investor examinations and be ready for the next auditor?
  • How does an outside perspective add more value than an internal risk self-assessment?
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June 17, 2021

Latest Fraud Trends and Insights

Expert Perspectives: Data Facts, Rory Tipton

  • What types of fraud should lenders be on the lookout for in 2021 and beyond?

  • What 7 areas of fraud does Data Facts’ ADV-120 platform evaluate?
  • What are the benefits to using an integrated credit reporting service for post-closing QC reverifications?

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May 26, 2021

Appraising the State of Appraisal Reviews

Expert Perspectives: Covius-Service 1st SVP of Valuations, Pete Gianfrancesco

  • What trends or insights is Service 1st seeing giving the current market conditions?
  • Outside of technology, what more are clients asking of Service 1st?
  • What are the benefits to using an integrated AMC for Field Reviews in the QC process?

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May 25, 2021

Loan quality lessons learned from 2020

HousingWire | May 25, 2021

HousingWire recently spoke with Trevor Gauthier, CEO of ACES Quality Management, about the effects of 2020 on loan quality and what lenders should expect regarding loan quality and risk management this year.

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April 15, 2021

A Brief History of Defects; Q3 2020’s Loan Quality Performance Sets Stage for Areas of Concern in 2021

MBA NewsLink| April 15, 2021 | Nick Volpe

“Those who cannot learn from history are doomed to repeat it.” – George Santayana. This precept has a variety of appropriate applications, though none may be more relevant for mortgage lenders than in the area of critical defects. Given the necessary delay that must precede the analysis of post-closing data, it is easy to forget the significance of these findings. However, mistakes made in the past often do not remain so, especially when those mistakes go unaddressed.

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March 29, 2021

Loan growth: Quality is as important as quantity

CUNA | March 29, 2021 | by Amanda Phillips, EVP of Compliance, ACES Quality Management

According to the latest survey from Cornerstone Advisors, mortgage and auto loans are No. 1 and 2 on credit union executives’ list of lending priorities for 2021, and it’s easy to see why. Auto lending has always formed the core of credit unions’ consumer lending strategy. Even with mortgage interest rates rising from 2020’s historic lows, rates are still low enough to encourage purchase business in 2021. However, when the goal is lending growth, prepare to manage the associated risk of loan defects.

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March 26, 2021

Why lenders need to revisit their quality control

HousingWire | March 24, 2021 | Matthew Merlone

Residential lending professionals today are being tasked to weather one storm after another. Between the complications brought on by the COVID-19 pandemic, the recent avalanche of volumes in this refinance market and changing leadership in the White House, lenders should anticipate an increased focus on compliance in 2021.

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February 09, 2021

Managing Effects of Changing Regulations on Mortgage Servicing Operations

When it comes to COVID-19’s impact on the finance industry, the devil is in the details. A look at post-closing quality control data from the second quarter of 2020 reveals another spike in early payment defaults without a clear end in sight. Having increased by nearly 200% compared to pre-pandemic levels, EPDs are also 50% higher than the prior quarter.

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