Regulation and Compliance

ARMCO’s Integration With BankVOD Enables Seamless Transfer of Bank Data

NationalMortgageProfessional.com
May 16, 2018
ACES Risk Management (ARMCO) has announced that it has added questionnaires related to the Home Mortgage Disclosure Act (HMDA) to the ACES Intelligent Questionnaire (ACES IQ) functionality

ACES Risk Management (ARMCO) has announced an integration with BankVOD, a company that pioneered the electronic risk interface for asset verifications. This integration, which provides a direct, seamless connection between ARMCO’s ACES Audit Technology and BankVOD’s Verification Hub, enables ARMCO clients the ability to order Asset Verifications, 4506-T, Employment and Occupancy and Liens & Judgments on a batch or flow basis, and receive the data via a secure electronic transfer directly into their ACES instance.
 
Prior to this integration, organizations were required to leave their QC software system, then order and receive IRS tax transcripts and bank verifications from BankVOD’s secure Web-based portal. In addition, they were not able to order IRS transcripts or verifications on a bulk basis.
 
“This integration doesn’t merely make the verification process faster, it also makes it more consistent and secure, which are two big factors in achieving quality,” said Phil McCall, President of ARMCO. “At ARMCO, we feel lenders should never have to choose between quality and time or resources. That’s why we are constantly pursuing ways, like this integration, to make quality faster, easier and more accessible to achieve for lenders of all sizes.”

 
Link copied
Published
May 16, 2018
Get the NMP Daily
Sales and Marketing
Emmy-Winning Director Takes Viewers Inside the World of Mortgage Originators in 'LO Confidential'

New reality series offers a glimpse of the mortgage industry's challenges.

Ever wonder what it's like to work on commission in a down market? Emmy-award winning director Kirby Bradley tries to give you a taste with "LO Confidential."  It's a new reality show released this week on YouTube that follows three loan originators in three Fairway In...

Continue reading
Analysis and Data
Pending Home Sales Decline By 1.5% In October

Rising mortgage rates and limited inventory cast a shadow on real estate market.

Pending home sales dropped 1.5% in October, according to the National Association of Realtors (NAR). It marks a concerning trend for the housing market and reveals a challenging landscape for potential buyers and sellers, influenced by factors such as rising mortgage rates a...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Regulation and Compliance
CFPB Slaps Bank Of America With $12 Million Penalty For False Mortgage Data Reporting

For at least four years, hundreds of Bank of America loan officers failed to ask mortgage applicants certain demographic questions.

Regulation and Compliance
Nov 28, 2023
Rising Home Values Propel Higher Loan Limits

FHFA Announces 5.6% Increase in Conforming Loan Limits for 2024

Regulation and Compliance
Nov 28, 2023
NMLS — Then, Now, And To Come

Leaders reminisce, plan, and dream about the regulatory group on its 15th birthday

Regulation and Compliance
Nov 02, 2023
Fannie Mae, Freddie Mac Shareholders Win Prejudgment Interest On $299M Verdict

Federal court upholds shareholders' right to interest after government's wrongful claim on profits; simple interest rate set, drawing from Delaware law precedent.

Regulation and Compliance
Oct 26, 2023
ADUs Can Now Be Sold Separately In California

‘Backyard revolution’ opens up the affordable housing market.

Regulation and Compliance
Oct 20, 2023
Cracking The Crackdown

How to eliminate and prevent ‘junk’ fees to avoid penalties

Regulation and Compliance
Oct 03, 2023