ACES NEWS

Category: Article

June 23, 2022

ACES: 4Q Critical Defect Rate Rises to 1.95%

ACES Quality Management, Denver, said overall critical defect rates increased in the fourth quarter.

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June 17, 2022

Mortgage loan critical defects reached high point in 2021

Last year was the worst ever for critical defects on mortgage applications, as pandemic-related stress on lender operations in the first half resulted in high rates of material misstatements slipping through, according to Aces Quality Management.

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December 14, 2021

Critical defects increase as refi market fades

Mortgage lenders generated more defective loans in the second quarter, reflecting the transition from a refinance to a purchase market, according to ACES Quality Management’s latest critical defect report.

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December 14, 2021

Mortgage application critical defects were back on the rise in 2Q

Mortgage application critical defects increased for the first time in three quarters, as errors in the income and employment category were at the highest level since Aces Quality Management started this report in 2016.

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December 10, 2021

For a Successful 2022, The Season of Giving Must Include an Enhanced QC/QA Process

While the last two months of the year typically denote the kickoff to the holiday season, this is also the time of year when lenders turn their attention to developing their strategic and operational plans for the coming year.

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October 18, 2021

Regulatory winds are changing: Are you prepared for increased complexity and scrutiny?

The regulatory forecast has warned of increasing regulations and requirements over the last year, and those predictions are now coming to fruition.

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September 29, 2021

Examining FHFA and HUD’s Memorandum of Understanding RE: Fair Lending

Expert Perspectives: ACES Executive VP of Compliance, Amanda Phillips

  • 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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September 17, 2021

Defects decline as mortgage lenders self-correct

Mortgage lenders have been making strides to right their wrongs, with critical defects falling to a rate of 2.01% in the first quarter of 2021, according to ACES Quality Management’s report published this week.

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September 17, 2021

ACES: Rate of Critical Defects in Closed Mortgages Fell Again in Q1

The rate of critical defects in mortgage loans post-closing fell to 2.01% in the the first quarter, down from 2.09% in the fourth quarter of 2020, according to the ACES Mortgage QC Industry Trends Report.

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September 16, 2021

Lender critical defect rate falls again

The downward trend in critical defects continued in Q1 2021, ending the quarter at 2.01% versus the prior quarter’s rate of 2.09%, according to ACES Quality Management, a provider of enterprise quality management and control software.

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