ARMCO Adds New Capabilities to its ACES Audit Technology™, Empowering Organizations to Swiftly Adhere to Changing Servicing Compliance Rules

 

GRAPEVINE, Texas, Feb. 14, 2017 — MBA National Mortgage Servicing Conference & Exposition — ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, announced at the MBA’s annual servicing conference being held at the Gaylord Texan Hotel, that it has added to and enhanced business user-friendly configuration functionality to its award-winning ACES Audit Technology™ solution. The additions enable servicers to standardize and easily modify compliance-critical questionnaires to follow when interfacing with borrowers amid the introduction of changing rules that are specific to servicing entities.

When interacting with borrowers, there are a myriad of rules that servicers must follow on both state and federal levels throughout the lifecycle of the servicing process. The new additions made to ARMCO’s ACES Audit Technology puts the ability to create and make changes to compliance questionnaires directly in the hands of business people. Updated questionnaires can quickly be incorporated into the servicer’s internal policies and procedures that guide staff with how and when to communicate with borrowers and proceed accordingly.

“Now more than ever, servicers face an influx of new compliance rules and regulations from federal, state and GSE requirements that they must adhere to,” said Phil McCall, COO of ARMCO. “Due to an increasing spotlight placed on servicers, we enhanced the ease of configuration and self-sufficient change management capability to our platform, which now provides servicers with complete control to make changes in real-time to comply with the complexity of new rules.”

Some examples that ACES Audit Technology helps with include general servicing functions (correspondence/complaints, credit reporting, fees, etc.); specialty servicing functions (adjustable rate mortgages, assumptions, bankruptcy, specialty HUD products, etc.); and default servicing functions (collections, loss mitigation, foreclosures, claims, etc.).  ARMCO’s ACES questionnaires are completely customizable and can leverage and modify existing template questionnaires that ARMCO has in its library of forms for servicers.  ARMCO maintains all relevant state and Federal compliance rules for clients, and then empowers them with the interface to makes changes to their own rules and policies.

A comprehensive suite of new USDA program specific questions were also added to the servicing questionnaires. There is a wide array of requirements covered; including, but not limited to escrow administration of the annual fee, construction processing/repair escrows, and default processing. Clients can easily review and analyze question content additions and/or changes, discuss implementation needs with QC and business staff, and maintain questionnaire versioning records that can be provided on demand in the event of an external regulatory audit.

ARMCO will be unveiling the added functionality to its ACES Audit Technology at the MBA Servicing Conference from Feb. 14 – 17 in Grapeview, Texas at the Gaylord Texan Hotel in booth number 1010.  The company can be contacted at sales@armco.us for a demo.

About ARMCO:

ARMCO – ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation’s top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions. ARMCO’s flagship product, ACES Audit Technology™, is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable. ACES standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans. For more information, visit www.armco.us or call 1-800-858-1598.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

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