ACES News

March 24, 2023

3Q Critical Defect Rate Posts Series High

ACES Quality Management, Denver, said the overall critical defect rate for mortgage underwriting in the third quarter rose to a series high.

March 14, 2023

Quality is key for credit unions to thrive in today's volatile lending market

Credit Union Journal spoke with Amanda Philips, EVP of compliance at ACES Quality Management, about why down cycles are an ideal time for credit unions to shore up their compliance and quality control processes.

February 15, 2023

2023 will be a brave new servicing world - Are your defenses ready?

HousingWire recently spoke to Amanda Phillips, executive vice president of compliance at ACES Quality Management, about getting servicing staff and technology ready to meet upcoming regulatory requirements while ensuring quality throughout the life of the loan.

February 14, 2023

Maximizing Servicing Revenue Requires Stringent QC Processes

Mortgage applications have been on the rise for the last three weeks. As we began the year at record-low applications since 1996, this is some much-needed optimism for the industry. However, 2023 is still expected to be a challenging environment.

January 19, 2023

When volumes decline, loan quality must reign supreme

Of course, regulators are not the only ones concerned with loan quality. Within the last year, Fannie Mae updated its QC reporting guidelines, with additional changes expected to come in 2023.

December 21, 2022

Q2 Critical Defect Rate up 6%

ACES Quality Management has released the findings of its latest Industry Trends Report for the second quarter of 2022 which found that the overall critical defect rate increased 6% compared to the first quarter of the year, and crossed the 2% threshold for the third time in report history.

The most common reasons cited for borrowers that critically fell behind include loss of income or loss of employment.

December 16, 2022

ACES: Critical Defect Rates Up 6%

ACES Quality Management, Denver, issued its quarterly Mortgage QC Industry Trends Report, showing the overall critical defect rate increased by 6% in the second quarter to 2.05%, crossing the 2% threshold for only the third time in this report’s history.

December 15, 2022

ACES: Rate of Defects in Mortgage Loans Jumped 6 Percent in Q2

The rate of critical defects in mortgage loans post-closing increased 6% in the second quarter, compared with the first quarter, driven in part by “geopolitical and macroeconomic events,” according to the lates ACES Quality Management Mortgage QC Industry Trends Report.

October 27, 2022

Changes to Fannie Mae’s Pre-Funding QC Requirements are on the Horizon. Are You Ready?

As industry headlines and first-hand experience has demonstrated, market change is underway. However, market conditions aren’t the only thing showing signs of change. At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements.

October 05, 2022

Mortgage servicing fintech Valon beefs up compliance tracking

Digital mortgage-servicing platform Valon will use ACES' quality management and control software to handle compliance efforts.