Skip to main content

ARMCO Launches New Tool For Early Payment Defaults

NationalMortgageProfessional.com
May 13, 2020
ACES Risk Management (ARMCO) has announced several major enhancements to its ACES Audit Technology platform to aid lenders’ loan defect categorization and post-closing quality control efforts

ACES Risk Management (ARMCO) has 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 audit volume.
 
“With unemployment figures on the rise due to the COVID-19 pandemic, the industry is bracing itself for a sharp increase in the number of EPDs on recently originated loans. Furthermore, EPDs are one of the strongest indicators of possible mortgage fraud, the likelihood of which also increases as borrowers feel a greater sense of urgency to secure financing for their home purchase,” ARMCO CEO Trevor Gauthier said. “ACESXPRESS for EPDs provides a turnkey platform for managing sudden volume spikes in EPD audits while maintaining compliance with audit requirements. Because the system can be implemented within a week, ACESXPRESS for EPDs also minimizes the burden typically placed on existing staff when onboarding a new system, thus enabling lenders to begin realizing its benefits sooner.”
 
ACESXPRESS for EPDs includes:
 
►Minimal setup requirements and the ability to configure within a week;
►Full product support from ARMCO;
►Pre-configured audits, including ACES IQ for conducting EPD reviews; and
►A library of standard report templates.
 

 
Published
May 13, 2020
More from
Tech
First Tech Federal Credit Union Chooses ICE Mortgage Technology’s EPPS

First Tech Federal Credit Union has chosen ICE Mortgage Technology’s EPPS to improve automation, compliance, and scalability to meet the demands of over 720,000 members. 

Tech
Jul 29, 2021
ICE Makes Enhancements To Its Mortgage Prepayment Model

The Intercontinental Exchange, Inc. made enhancements to its mortgage prepayment model with daily residential mortgage rates from ICE Mortgage technology.

Tech
Jul 27, 2021
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Tech
Jul 22, 2021
Rocket Expands Home Search Tool To All 50 States

Rocket Homes announced its growing home search tool now includes listings from all 50 states.

Tech
Jul 21, 2021
Better's One-Click Checkout Now Offers Title Insurance For Refi's

Better announced it has been licensed as a title insurance provider for refinance transactions through Better Settlement Services (BSS) in Virginia. 

Tech
Jul 20, 2021
Fairway Independent Mortgage Uses Doma To Improve Refinance Business

Doma Intelligence platform will remove key points of friction and frustration that affect traditional mortgage closings.

Tech
Jul 16, 2021