marketanalysis

ARMCO Enhances ACES Technology To Support Upcoming HMDA Changes

ACES Risk Management (ARMCO), a provider of financial quality control and compliance software, announced that it has upgraded its ACES Audit Technology solution with over 15 new enhancements. The enhancements include support for the HMDA changes scheduled for 2018, at-a-glance dashboards, and heightened automation for the system’s ACES Intelligent Questionnaire (ACES IQ), which has been shown to reduce QC audit times by an average of 30 percent.

ACES Audit Technology also includes new at-a-glance dashboards that provide users with a high-level view of the loans and exceptions in their queue in an easy-to-read format. ACES Dashboards’ visual charts and graphs help users to quickly identify issues and determine pipeline status in real-time. Its live audit-level filtering enables users to customize the experience according to their unique goals and demands.

“Industry requirements keep expanding and the number of audit questions are increasing,” said McCall. “In response, we made considerable improvements to ACES IQ technology, which include pre-set and user-defined audit questions, to help lenders streamline efficiencies.”

ACES IQ has been enhanced to include multiple layers of automation, including audit, loan and borrower level dependencies, supported by data-driven triggers that will support an efficient and streamlined workflow. With this enhancement, ARMCO clients are reporting reductions in post-closing audit times of up to 30%.

“When you combine a contracting market with a regulation-heavy environment—and that’s exactly what the mortgage industry is facing right now—lenders need operations that aren’t just powerful, but also lean,” said Avi Naider, CEO of ARMCO. “This update enhances quality and compliance, while also providing the efficiency and speed for a leaner, more economical process.”

About The Author

Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.