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.
“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.
Included in the enhancements are additions to the suite of integrated third-party verification providers available within ACES. Users can now order, track and receive credit reports from Data Facts
and field reviews from Service1st
without leaving the ACES system, which streamlines the quality control audit process and eliminates the unnecessary, time-consuming and error-prone task of rekeying data.
In addition to expanding users’ options for third-party verification providers, ARMCO also announced its updates to the loan defect taxonomies for Fannie Mae and FHA included within ACES. These updates reflect the changes announced by Fannie Mae in late Q3 2019 and FHA in early Q1 2020 and were made available to ACES users in December 2019 and January 2020, respectively.