Compliance Newshub
ACES News

DENVER, Colo., May 19, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise quality management and control software for the lending industry, announced several major enhancements to its ACES Audit Technology platform to aid lenders’ loan defect categorization and post-closing quality control efforts.

“Loan quality is a moving target, and to ensure our clients are always hitting the mark, ARMCO is continually refining ACES as users’ needs and regulatory directives change,” ARMCO CEO Trevor Gauthier said. “This recent slate of system updates is further evidence of our commitment to customer satisfaction, user choice, industry partnerships with best-of-breed providers that support our clients’ loan quality initiatives.”

DENVER, Colo., May 13, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise quality management and control software for the lending industry, announced the release of ACESXPRESS™ for Early Payment Defaults (EPDs) to bolster lenders’ existing audit programs in light of the recent increases in required monthly EPD audit volume.

Register for the May 7th October Research webinar featuring ARMCO's Director of Compliance, Kacey Olson. Experts will share their experience on innovating the HMDA process to make it easier to stay compliant and address the recent changes to the HMDA regulations without overwhelming your staff and even improve your business. 

Release Provides Consumer Banks, Credit Unions with Enterprise-Wide Platform for Managing Quality Across Multiple Product Lines

DENVER, Colo., April 22, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise quality management and control software for the lending industry, announced the official release of ACES Consumer, the next iteration of its ACES Audit Technology™ platform designed specifically for financial institutions. The new solution provides both consumer banks and credit unions with a single platform to improve loan quality and gain valuable insights across all consumer lending channels.

DENVER, Colo., April 2, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced it has created a new question set category within its ACES Intelligent Questionnaire (ACES IQ) functionality to house all temporary regulatory provisions issued by state and federal agencies and the GSEs in response to the COVID-19 national emergency declaration. The new category provides ACES users with a centralized repository inside ACES Audit Technology^TM to ensure audits are conducted using the most up-to-date compliance standards.

DENVER, Colo., February 27, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced today it has added questionnaires related to the Home Mortgage Disclosure Act (HMDA) to the ACES Intelligent Questionnaire (ACES IQ) functionality contained within the ACES Audit Technology^TM system. With this set of HMDA-specific questions, ACES users can quickly and easily conduct quality control on their HMDA data before reporting this data to their assigned federal HMDA regulator.  

“With the CFPB’s 2019 HMDA rule changes now firmly in effect, lending institutions have a better idea of where their individual responsibilities reside in regards to HMDA reporting,” ARMCO CEO Trevor Gauthier said. “Given this recent move from yearly to quarterly reporting, ARMCO felt the time was right to introduce HMDA-specific questionnaires to enable our customers to streamline and perfect their data integrity auditing for HMDA.”

Fay Servicing’s quality control team was at an impasse. The department, which was established in 2014, historically relied on a combination of manual loan selection, shared file drives, email and spreadsheets to manage its QC audits. Once the total number of monthly audits reached double digits, the team knew it was time to make a change, and adding staff was not an option.

DENVER, Colo., January 30, 2020— After a remarkable 2019, ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, is looking ahead to 2020 for what promises to be an outstanding year. In addition to adding several lenders to its growing roster of clients – including Bay Equity Loans, KWIK Mortgage, The KLR Group and multiple top-25 mortgage companies – ARMCO also achieved a company record in 2019 of one million audits conducted in a single year in its flagship audit platform ACES Audit Technology^TM.

ARMCO also launched several product enhancements in 2019, including a parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output to the ACES Audit Technology platform. Other noteworthy enhancements include an auto-answer feature that automatically answers audit questions based on available loan data, as well as an enhanced single sign-on that can reduce on-boarding time by more than 50 percent. Encouraged by these accomplishments, the company plans to expand its footprint in 2020 to support risk management, compliance and quality control for financial institutions with multiple loan products and lines, including consumer lending.

Denver, CO., Dec. 19, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers second quarter (Q2) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.

In Q2 2019, the overall critical defect rate declined for two consecutive quarters for the first time since Q3 2016, falling 5.5% to 1.72%. The industry’s two-quarter decline in critical defects coincides with two consecutive quarters of strong but steady loan volume and a three-year high in lender profitability, according to the most recent Quarterly Performance Report issued by the Mortgage Bankers Association (MBA). In October 2019, the MBA Economic Forecast predicted 2019 origination volume to reach $2.06 trillion, its highest level since 2007.

POMPANO BEACH, Fla., Nov. 19, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced several product enhancements to its auditing platform, ACES Audit Technology™. This upgrade introduces a new parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output. The ultimate result of this feature is faster loan delivery. 

POMPANO BEACH, Fla., October 24, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced that it has implemented ACES Audit Technology™ for Bay Equity Home Loans, well within the lender’s 45-day deadline for launching its new quality control (QC) operations.

“It was a tall order to get everything up and running, configured, and have everyone trained within 45 days,” said Cyndi Clouse, AVP of Quality Control for Bay Equity. “ARMCO’s team was with us literally every step of the way. It’s a 180-degree difference from implementations where you can feel abandoned once you sign the contract.”

POMPANO BEACH, Fla., Sept. 16, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers first quarter (Q1) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.

“Q1 2019 revealed the loan quality correction we anticipated after Q4 2018, but while there are many positives related to the overall market’s upturn, we saw an increase in defects related to key underwriting and eligibility functions,” said Nick Volpe, chief strategy officer for ARMCO. “This continues a trend that persisted the entirety of 2018. Lenders shouldn’t take this lightly.”