ACES Risk Management (ARMCO) , a provider of web-based audit technology for the mortgage industry, unveiled new capabilities for its ACES Audit Technology.
Servicers can now modify and update compliance questionnaires in ACES as rules and processes change.
“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.
The questionnaires in the ARMCO Aces Technology platform are completely customizable. As rules change, servicers are able to make their own changes to questionnaires and begin to use them immediately.
“Due to an increasing spotlight placed on servicers, we enhanced the ease of configuration and self-sufficient change management capability to our own platform, which now provides servicers with complete control to make changes in real-time to comply with the complexity of new rules,” McCall said.
ACES Audit Technology accommodates several mortgage servicing functions, including traditional loan servicing tasks, such as customer correspondence and handling of complaints; specialty servicing tasks, such as adjustable rate mortgages, assumptions, bankruptcy, and specialty HUD projects; and default servicing tasks, such as collections, loss mitigation, and foreclosures.
ARMCO also added questions specific to USDA programs into its ACES offering to handle administration of annual escrow fees, construction processing and repair escrows, and default processing. All of these are easily added into existing questionnaires as servicers need.