ACES News

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.

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.

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.

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.

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?

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.

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.

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.

September 16, 2021

Early payment defaults drop below pre-pandemic levels

A key indicator of loan buyback risk has fallen back below pre-pandemic levels, according to Aces Quality Management’s most recent quarterly report.

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.