ACES Risk Management (ARMCO)
has announced the release of a new technology for mortgage lenders and servicers that improves data validation in the QC process.
ARMCO’s new data validation tool is available through the most recent ACES upgrade. This upgrade’s principal enhancement is advanced process automation functionality that enables ACES to automatically identify missing data within the loan file. Data integrity issues are one of the top causes of critical defects, according to research released in the most recent ARMCO Mortgage QC Industry Trends Report. With the system’s new advanced automation functionality, ACES now fulfills an essential function for avoiding data validation errors.
Introducing this upgraded level of process automation is part of ARMCO’s strategy to continue exploiting and maximizing process automation to turn one of the most labor intensive and time-consuming tasks into an entirely automated process within the ACES platform, and impart the highest levels of thoroughness, reliability and efficiency in the QC process.
“We created this feature to help our clients relieve a critical pain point of validating system data. Data integrity issues compromise loan quality, create extra work, and most importantly, increase lenders’ risk when they’re not caught and corrected,” said Phil McCall, President of ARMCO. “Manually searching for data related errors can be extremely difficult given the amount of data contained in a loan file. That’s why automation stands to make a major difference in lenders’ success in identifying and correcting one of the most frequent causes of critical defects.”