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DENVER, Colo., February 27, 2020—ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, announced today it has added questionnaires related to the Home Mortgage Disclosure Act (HMDA) to the ACES Intelligent Questionnaire (ACES IQ) functionality contained within the ACES Audit Technology^TM system. With this set of HMDA-specific questions, ACES users can quickly and easily conduct quality control on their HMDA data before reporting this data to their assigned federal HMDA regulator.  

“With the CFPB’s 2019 HMDA rule changes now firmly in effect, lending institutions have a better idea of where their individual responsibilities reside in regards to HMDA reporting,” ARMCO CEO Trevor Gauthier said. “Given this recent move from yearly to quarterly reporting, ARMCO felt the time was right to introduce HMDA-specific questionnaires to enable our customers to streamline and perfect their data integrity auditing for HMDA.”

Fay Servicing’s quality control team was at an impasse. The department, which was established in 2014, historically relied on a combination of manual loan selection, shared file drives, email and spreadsheets to manage its QC audits. Once the total number of monthly audits reached double digits, the team knew it was time to make a change, and adding staff was not an option.

DENVER, Colo., January 30, 2020— After a remarkable 2019, ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, is looking ahead to 2020 for what promises to be an outstanding year. In addition to adding several lenders to its growing roster of clients – including Bay Equity Loans, KWIK Mortgage, The KLR Group and multiple top-25 mortgage companies – ARMCO also achieved a company record in 2019 of one million audits conducted in a single year in its flagship audit platform ACES Audit Technology^TM.

ARMCO also launched several product enhancements in 2019, including a parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output to the ACES Audit Technology platform. Other noteworthy enhancements include an auto-answer feature that automatically answers audit questions based on available loan data, as well as an enhanced single sign-on that can reduce on-boarding time by more than 50 percent. Encouraged by these accomplishments, the company plans to expand its footprint in 2020 to support risk management, compliance and quality control for financial institutions with multiple loan products and lines, including consumer lending.

Denver, CO., Dec. 19, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers second quarter (Q2) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.

In Q2 2019, the overall critical defect rate declined for two consecutive quarters for the first time since Q3 2016, falling 5.5% to 1.72%. The industry’s two-quarter decline in critical defects coincides with two consecutive quarters of strong but steady loan volume and a three-year high in lender profitability, according to the most recent Quarterly Performance Report issued by the Mortgage Bankers Association (MBA). In October 2019, the MBA Economic Forecast predicted 2019 origination volume to reach $2.06 trillion, its highest level since 2007.

POMPANO BEACH, Fla., Nov. 19, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced several product enhancements to its auditing platform, ACES Audit Technology™. This upgrade introduces a new parallel workflow capability that saves time and reduces turn times while maintaining the quality of staff output. The ultimate result of this feature is faster loan delivery. 

POMPANO BEACH, Fla., October 24, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced that it has implemented ACES Audit Technology™ for Bay Equity Home Loans, well within the lender’s 45-day deadline for launching its new quality control (QC) operations.

“It was a tall order to get everything up and running, configured, and have everyone trained within 45 days,” said Cyndi Clouse, AVP of Quality Control for Bay Equity. “ARMCO’s team was with us literally every step of the way. It’s a 180-degree difference from implementations where you can feel abandoned once you sign the contract.”

POMPANO BEACH, Fla., Sept. 16, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers first quarter (Q1) 2019 and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.

“Q1 2019 revealed the loan quality correction we anticipated after Q4 2018, but while there are many positives related to the overall market’s upturn, we saw an increase in defects related to key underwriting and eligibility functions,” said Nick Volpe, chief strategy officer for ARMCO. “This continues a trend that persisted the entirety of 2018. Lenders shouldn’t take this lightly.”

POMPANO BEACH, Fla., Sept. 10 2019 —  ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced that it has achieved significant growth during the first two quarters of 2019, the result of acquiring new clients, including KWIK Mortgage, The KLR Group and several top 25 mortgage lenders.

BIRMINGHAM, Ala., July 18, 2019 – New Capital Partners (NCP), a private equity firm in Birmingham, Ala., today announces that it has partnered with Pompano Beach, Fla.-based ARMCO, the leader in web-based quality assurance software for the financial services industry.

Adam Cranford, Managing Director of New Capital Partners, said, “We are excited to partner with the outstanding team at ARMCO.  The team has done a tremendous job building a market-leading product suite and providing best-in-class service and support to their customers. Broad use of ACES by top banks, lenders and servicers in the country attests to the strength of the product and the ARMCO professional team. We are looking forward to working with the team to drive continued growth and innovation.”

POMPANO BEACH, Fla., July 11, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk management solutions, announced the release of the quarterly ARMCO Mortgage QC Trends Report. The latest report covers both the fourth quarter (Q4) and the calendar year (CY) 2018, and provides loan quality findings for mortgages reviewed by ACES Audit Technology™.    

“Critical defects in 2018 reflect the market’s rising interest rates and continued escalation of property values,” said Nick Volpe, chief strategy officer for ARMCO. “Fewer highly qualified borrowers transact mortgages when rates increase, which fills the market with more marginal borrowers who tend to require more documentation. It makes sense that defects related to loan package documentation more than doubled from 2017 to 2018.” 

The report’s noteworthy findings include:

• In Q4 2018, the critical defect rate increased just over 2%, reaching 1.93% from the previous quarters rate of 1.89%
• In CY 2018, the critical defect rate increased almost 8% over the previous year, jumping from 1.68% in CY 2017 to 1.81% in CY 2018
• Defects related to Income and Employment are on the rise:
  • In Q4 2018, Income and Employment related defects increased 63% over Q3 2018
  • In Q4 2018, Income and Employment related defects comprised a greater percentage of total defects for both CY 2018 and CY 2017
• Defects attributed to Loan Package Documentation more than doubled between CY 2017 and CY 2018.
• In Q4 2018, defects attributed to categories related to Underwriting / Eligibility continued to dominate overall quality issues, comprising over 65% of all critical defects.
• In Q4 2018, the top three categories that increased over Q3 2018 were all key qualification categories: Income and Employment, representing 20.39% of all critical defects in the benchmark. This category was followed by Credit at 18.45% and Loan Package Documentation at 15.53%.
• In CY 2018, FHA loans accounted for roughly 31% of the loans reviewed but represented approximately 41% of loans containing critical defects. 

The Q4/CY 2018 ARMCO Mortgage QC Industry Trends Report is based on nationwide post-closing quality control loan data from over 90,000 unique loans selected for random full-file reviews, as was captured by the company’s ACES Analytics benchmarking software. Defects listed in the report are categorized using the Fannie Mae loan defect taxonomy.

“As the market fluctuates, so do the distribution and frequency of defects, and if lenders aren’t prepared, that can end up costing them a lot in price adjustments, fees, investor delays and even buybacks,” said Phil McCall, president of ARMCO. “Analytical QC technologies enable lenders to catch the defects and proactively prevent them so they can protect their profits. In shifting markets, where defects are like moving targets, that’s more important than ever.”  

ARMCO Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/learn/reports.

About ARMCO

Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider of risk management software. ARMCO’s product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology™, has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing. ARMCO’s consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality. For more information, visit www.acesquality.com or call 1-800-858-1598.

PRESS CONTACT

Jeri Yoshida

Yosh Communications

jeri@yoshcomm.com

310 651 0057

POMPANO BEACH, Fla., May 1, 2019 — ACES Risk Management (ARMCO), the leading provider of enterprise financial risk mitigation solutions, has announced that it has hired Kyle Kehoe as chief revenue officer.

Kyle’s focus will be accelerating ARMCO’s organic revenue growth, from its strong base in the mortgage vertical into adjacent markets in financial services, both commercial and consumer. He will also help guide the development and commercialization of ARMCO’s next generation of products and services, and ensure the company continues to deliver best-in-class customer experiences. 

Across his 20-year career as an executive and revenue leader with CRIF Lending Solutions/MeridianLink, Yodlee and Equifax, Kyle has built and led exceptional enterprise sales, product and marketing teams. 

“We are proud to announce Kyle as ARMCO’s chief revenue officer, and thrilled to have him on our executive team,” said Avi Naider, ARMCO’s CEO.  “His strategic vision, industry leadership, commercial acumen and personal integrity are the qualities we seek in our executive team.”

“As provider of the most advanced quality control and compliance technology, ARMCO is in prime position for expansion,” said Kyle Kehoe, CRO. “I look forward to helping lenders, servicers, banks and other financial institutions achieve the increased revenue, reduced risk, and enhanced client experiences that come from choosing ARMCO as a technology partner.” 

“I believe we drafted a high-impact player in Kyle, one who has delivered results across two decades and through some tough industry cycles,” said Phil McCall, ARMCO’s president.  

ABOUT ARMCO

Over half of the top 20 mortgage lenders in the U.S. choose ARMCO as their provider of risk management software. ARMCO’s product line includes loan quality enterprise software, services, data and analytics. Its flagship product, ACES Audit Technology™, has set the bar for user definability in its category. It is used at virtually every point in the mortgage lifecycle, as well as for a wide range of risk-prone business operations outside traditional mortgage origination and servicing. ARMCO’s consultative approach to customer relationships leverages 25 years of mortgage risk intel, assuring that its clients are using the most effective risk mitigation strategies, and are using the fastest, most reliable, most efficient means for preventing risk-related loss. ARMCO distributes the ARMCO Mortgage QC Industry Trends Report, a free quarterly analysis of industry-wide mortgage loan quality. For more information, visit www.acesquality.com or call 1-800-858-1598.

PRESS CONTACT

Jeri Yoshida

Yosh Communications

jeri@yoshcomm.com

310 651 0057

POMPANO BEACH, Fla., Apr. 3, 2019 — ACES Risk Management (ARMCO), the leading provider of financial risk mitigation and compliance solutions, announced that it has won HousingWire’s sixth annual HW Tech100™ award, which recognizes the 100 most innovative technology companies in the U.S. housing economy. This is the fifth consecutive year that ARMCO has achieved this prestigious designation.

“At ARMCO, being a leader in mortgage technology means more than providing the best software, for us it also includes providing quality intel at no additional cost,” said Phil McCall. “We’re happy that HousingWire recognizes the quality of our contributions, both for our paid solutions as well as the ones we deliver to the industry at zero cost.”

A recognized leader in its segment, ARMCO provides a wide range of mortgage quality control (QC), compliance and risk management technologies, and several zero-cost tools, which include (1) the Quarterly Mortgage QC Trends Report, which reports findings of all loans analyzed by ACES Audit Technology for a given quarter, (2) the Compliance NewsHub, an up-to-date reference library of all credit and compliance news.  

Over half the country’s top 20 mortgage lenders, and one third of the top 150 servicers and lenders, use ARMCO’s technologies as the foundation of their risk management programs. The company’s flagship product, ACES Audit Technology, has been documented to increase productivity 40 to 60 percent in the prefunding QC process, 75 to 100 percent in the post-closing QC process, and 50 to 75 percent in the servicing QC process.

"These companies hold the most innovative and impactful technology in mortgage finance, and continue to move markets forward with their new innovations," HousingWire Associate Editor Kelsey Ramírez said. "The future is bright for the mortgage industry, and it's because these companies continue to push the edge of what is possible."

"This year's Tech100 list is stronger than ever! We leveraged a highly-qualified selection committee to review all nominations and guide the selection process. This extra layer of expertise and practical exposure to selected companies was influential in helping HousingWire recognize the 100 fintech companies that deserve the honor of being named the greatest players in the game,” said HousingWire Editor-in-Chief Jacob Gaffney. “We couldn't be more proud of the innovators and entrepreneurs behind these organizations and we hope you'll join us in celebrating their inclusion on the most prestigious list of its kind — the HW Tech100."