Category: Article
National Mortgage News | July 29, 2020 | by Phil McCall
Click here to readACES Risk Management, Denver, released its quarterly ARMCO Mortgage QC Trends Report, showing critical defect rates improved from the fourth quarter to the first and in 2019 overall.
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The COVID-19 pandemic has brought about the largest global disruption of our lifetime, and how credit unions respond during this upheaval will define the industry for generations to come.
Click here to readBy staff at CreditUnion.com
Denver-based ARMCO has been helping leading financial institutions nationwide automate and understand quality control in their lending processes for more than two decades. The Colorado company has now refined its experience into the ACES Consumer platform, an enterprise quality control solution that addresses opportunity for peak performance in auditing and optimizing consumer and mortgage lending and account opening.
Click here to readBy Michael Bates at MortgageOrb
Increasing refinance volume continued to drive down the rate of defects in mortgage applications in the third quarter of 2019, according to ARMCO’s most recent Mortgage QC Trends Report.
The overall rate of critical defects was 1.56%, a decrease of 9% compared with the second quarter and a decrease of 19% compared with the peak, which occurred in the fourth quarter of 2018.
Click here to readBy staff at MBA NewsLink
ACES Risk Management, Denver, said the overall critical defect rate reached 1.56% in the third quarter, to the lowest defect rate since 2016.
The company’s quarterly Mortgage QC Trends Report said the decrease represents a 19% improvement from the most recent critical defect rate peak, which occurred in Q4 2018.
Click here to readby HousingWire staff
ACES Audit Technology expedites turn times, increases reliability and imparts standardization, accountability and auditability in virtually any quality control process. It can be used across departments and silos, regardless of how nuanced the requirements or regulations are. ARMCO consolidated QC for mortgage and consumer lending into one central unit and reduced monthly reports for lenders from eight manually compiled reports to one interactive report.
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