ARMCO’s ACES Platform Now Supports Upcoming HMDA Changes

Posted by Patrick Barnard on May 08, 2017 No Comments
Categories : Residential Mortgage

ARMCO says it has added 15 new enhancements to its ACES Risk Management quality control (QC) and compliance software, including support for the new reporting requirements under the Home Mortgage Disclosure Act (HMDA), taking effect Jan. 1, 2018.

Other improvements include the addition of “at-a-glance” dashboards and heightened automation for the system’s ACES Intelligent Questionnaire (ACES IQ), which has been shown to reduce QC audit times by an average of 30%.

“Regulatory compliance has emerged as a No. 1 concern for most lenders, and many will see our enhancements to support the upcoming HMDA changes as a huge benefit of this release,” says Phil McCall, chief operating officer of ARMCO, in a release. “The HMDA updates don’t go into effect until 2018, but lenders that want to protect their profits and longevity don’t wait for the last minute to adapt. Our customers rely on ACES Audit Technology because we help them stay compliant, regardless of changing regulations, well before any deadlines.”

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