Latest news with #ACESQualityManagement
Associated Press
15-05-2025
- Business
- Associated Press
ACES Q4/CY 2024 Mortgage QC Industry Trends Report finds quarterly defect rate falls to 1.16% as annual loan quality improves
- Q4 2024 marks second-lowest defect rate on record while full-year results reflect a 9.5% year-over-year improvement despite lingering compliance and eligibility risks - DENVER, Colo., May 15, 2025 (SEND2PRESS NEWSWIRE) — ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the fourth quarter (Q4) and calendar year (CY) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software. Key findings from the Q4/CY 2024 report include: 'Lenders made meaningful progress in loan quality in 2024, closing the year with one of the lowest quarterly critical defect rates we've ever observed,' said ACES Executive Vice President Nick Volpe. 'However, continued volatility across the Legal / Regulatory / Compliance and Insurance categories, as well as within the Income/Employment Eligibility subcategory, highlights the importance of ongoing diligence in quality control efforts.' Findings for the Q4/CY 2024 ACES Mortgage QC Industry Trends are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews. The Mortgage QC Industry Trends Reports are available for free download at About ACES Quality Management ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including: Over 70% of the top 20 independent mortgage lenders; Unlike other quality control platforms, ACES Flexible Audit Technology® gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit or call 1-800-858-1598. NEWS SOURCE: ACES Quality Management ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for ACES Quality Management (404) 549-9282 [email protected] ### Keywords: Mortgage, ACES Quality Management, enterprise quality management and control software, ACES Mortgage QC Industry Trends Report, DENVER, Colo. This press release was issued on behalf of the news source (ACES Quality Management) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P126219 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.
Associated Press
13-02-2025
- Business
- Associated Press
ACES Q3 2024 Mortgage QC Trends Report shows ‘sharp rise in insurance defects' for second time this year
- Fluctuations in key underwriting categories reinforce the need for quality control - DENVER, Colo., Feb. 13, 2025 (SEND2PRESS NEWSWIRE) — ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the third quarter (Q3) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software. The overall critical defect rate declined from Q2 to Q3 by nearly 17%, ending the quarter at 1.51%. Income/Employment was again the leading category of defects at 25%, followed by Assets at 16.67%. Credit and Loan Documentation tied for the third most defects at 12.12% each. Insurance defects increased more than four-fold from a nominal .65% in Q2 to 3.03% in Q3, demonstrating a volatile pattern since Q1 when the share stood at 8%. Mirroring the origination environment in Q3, lenders increased their reviews of refinances while defect share declined. Purchase defect share increased despite a decrease in purchase reviews. Conventional review share increased slightly in Q3, while FHA, USA and VA loan reviews decreased. Defects declined significantly for conventional and USDA loans this quarter, while FHA defect share increased by 25%. VA defect share increased significantly in Q3, though primarily driven by a temporary phenomenon. 'The drop in the overall critical defect rate this quarter is a welcome shift, but the underlying trends tell a more complex story. The sharp rise in insurance defects, combined with fluctuations in key underwriting categories, reinforces the need for lenders to stay agile in their quality control efforts,' said Nick Volpe, executive vice president of ACES Quality Management. 'As market conditions evolve, leveraging technology and data-driven insights will be critical to maintaining loan integrity and mitigating future risk.' Findings for the Q3 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews. The Mortgage QC Industry Trends Reports are available for download, free of charge, at About ACES Quality Management: ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including: Over 70% of the top 20 independent mortgage lenders; 7 of the top 10 loan servicers; 11 of the top 30 banks; and 3 of the top 5 credit unions in the United States. Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit or call 1-800-858-1598. ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for ACES Quality Management (404) 549-9282 [email protected] ### Keywords: Mortgage, Mortgage QC Trends Report, ACES Quality Management, DENVER, Colo. This press release was issued on behalf of the news source (ACES Quality Management) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P124026 AP-R15TBLLI RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT.
Associated Press
06-02-2025
- Business
- Associated Press
Fannie Mae Vice President Bill Cleary to Speak at ACES Quality Management Conference in May
- Fourth annual ACES ENGAGE returns to The Broadmoor Resort in Colorado Springs - DENVER, Colo., Feb. 6, 2025 (SEND2PRESS NEWSWIRE) — ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, has announced that Bill Cleary, vice president of Single-Family Credit Risk Loan Quality at Fannie Mae, will speak at the ACES ENGAGE conference at The Broadmoor Resort in Colorado Springs, Colo., May 18–20, 2025. Over the past 14 years, Cleary has led the design, development and delivery of loss mitigation strategies for the GSE's guaranty portfolio, including ensuring servicing alignment with Freddie Mac as directed by FHFA. He was responsible for the development and expansion of Fannie Mae's automated loss mitigation underwriting engine and, for more than a decade, has overseen all credit-related decisions on loss mitigation files submitted to Fannie Mae for review and approval. 'Having Bill Cleary share his uniquely qualified insights with ACES is truly an honor,' said Trevor Gauthier, CEO of ACES Quality Management. 'His appearance at ACES ENGAGE illustrates the importance of this conference at a particularly crucial time in our industry.' Cleary joins Dr. Edward Seiler, executive director of the Research Institute for Housing at the Mortgage Bankers Association (MBA), and Richard J. Andreano, Jr., partner and practice leader of Ballard Spahr's Mortgage Banking Group, on the ACES Engage speakers' roster. The keynote speaker for this year's event is Michael C. Anthony, the star of 'The Hypnotist,' and a bevy of major media productions. Registration is open for ACES ENGAGE 2025. To secure your spot or learn more about this event, visit About ACES Quality Management: ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including: Over 70% of the top 20 independent mortgage lenders; 7 of the top 10 loan servicers; 11 of the top 30 banks; and 3 of the top 5 credit unions in the United States. Unlike other quality control platforms, only ACES Flexible Audit Technology®, gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit or call 1-800-858-1598. ### MEDIA ONLY CONTACT: (not for publication online or in print) Lindsey Neal Depth for ACES Quality Management (404) 549-9282 [email protected] ### Keywords: AP, ACES Quality Management, ACES ENGAGE, fintech, Fannie Mae, enterprise quality management and control software, DENVER, Colo. Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P123875 AP-R15TBLLI
