Category: Article

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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February 08, 2021

Navigating an Ever-Changing Regulatory Landscape Amid the COVID-19 Pandemic

Certainty was in short supply for much of 2020, but as the calendar turns to 2021, what has become clear is mortgage lending will continue to feel the effects of the COVID-19 pandemic well into the new year.

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January 20, 2021

Why COVID-19’s full effect on loan quality has yet to be seen

National Mortgage News | Nick Volpe, EVP of ACES Quality Management

2020 will be remembered as an anomaly of a year, with the effects of COVID-19 rippling through nearly every aspect of the economy. While the mortgage industry experienced record loan volume, the pandemic created circumstances that impacted loan quality and exposed lenders to greater risk. As we close the books on 2020, analysis of post-closing QC data from the second quarter shows the industry has yet to feel the pandemic’s full effect on loan quality — meaning lenders shouldn’t consider themselves out of the woods just yet.

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December 16, 2020

Critical defect rate of closed loans spiked in 2Q due to COVID-19

Critical defects found in closed mortgage loan files were at their highest since 2018 in the second quarter, due to conditions created by the pandemic, a review conducted by Aces Quality Management found

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December 02, 2020

COVID-19’s Effect on Early Payment Defaults

Early payment defaults (EPDs) are on the rise due to the pandemic. In what ways will the large volume of EPDs affect lenders and servicers?

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November 12, 2020

2021 Predictions From Originators

By Brad Finkelstein from National Mortgage News

NMN checked in with leaders in the origination to make their predictions for the year ahead. National Mortgage News interviewed ACES Quality Management CEO, Trevor Gauthier to learn more about the 2021 outlook and how forbearances can lead to an increase early payment defaults and potentially foreclosures.

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November 09, 2020

Trevor Gauthier of ACES Quality Management on Early Payment Defaults

MBA NewsLink | Nov 9, 2020

MBA NEWSLINK interviews ACES Quality Management CEO, Trevor Gauthier. Topics cover early payment default, CARES Act compliance and affects on servicing qc, digital closing and much more.

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