ACES News

March 28, 2023

Scratch-and-dent volume appears to be on the rise

After two years of record mortgage volumes, the government-sponsored enterprises are finally checking the loans they purchased during this time frame to see if they comply with the guidelines.

March 27, 2023

ACES: Mortgage Loan Defect Rate Jumped 20.5 Percent During Q2 2022

The rate of critical defects in mortgage loans post-closing increased 20.5% during the second quarter of 2022, rising to a rate of 2.47% of all loans by the start of the third quarter 2022...

March 27, 2023

Mortgage loan defects hit new high in 3Q

Critical defects on mortgage applications reached a new high in the third quarter last year, in a period when originations declined steeply and competition heightened, according to a new report from Aces Quality Management.

March 24, 2023

3Q Critical Defect Rate Posts Series High

ACES Quality Management, Denver, said the overall critical defect rate for mortgage underwriting in the third quarter rose to a series high.

March 14, 2023

Quality is key for credit unions to thrive in today's volatile lending market

Credit Union Journal spoke with Amanda Philips, EVP of compliance at ACES Quality Management, about why down cycles are an ideal time for credit unions to shore up their compliance and quality control processes.

February 15, 2023

2023 will be a brave new servicing world - Are your defenses ready?

HousingWire recently spoke to Amanda Phillips, executive vice president of compliance at ACES Quality Management, about getting servicing staff and technology ready to meet upcoming regulatory requirements while ensuring quality throughout the life of the loan.

February 14, 2023

Maximizing Servicing Revenue Requires Stringent QC Processes

Mortgage applications have been on the rise for the last three weeks. As we began the year at record-low applications since 1996, this is some much-needed optimism for the industry. However, 2023 is still expected to be a challenging environment.

January 19, 2023

When volumes decline, loan quality must reign supreme

Of course, regulators are not the only ones concerned with loan quality. Within the last year, Fannie Mae updated its QC reporting guidelines, with additional changes expected to come in 2023.

December 21, 2022

Q2 Critical Defect Rate up 6%

ACES Quality Management has released the findings of its latest Industry Trends Report for the second quarter of 2022 which found that the overall critical defect rate increased 6% compared to the first quarter of the year, and crossed the 2% threshold for the third time in report history.

The most common reasons cited for borrowers that critically fell behind include loss of income or loss of employment.

December 16, 2022

ACES: Critical Defect Rates Up 6%

ACES Quality Management, Denver, issued its quarterly Mortgage QC Industry Trends Report, showing the overall critical defect rate increased by 6% in the second quarter to 2.05%, crossing the 2% threshold for only the third time in this report’s history.