POMPANO BEACH, Fla., Oct. 24, 2019 (SEND2PRESS NEWSWIRE) — 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.”
Bay Equity Home Loans is a full-service retail mortgage lending institution founded in June 2007. When senior management decided to update the company’s QC processes, department executives seized the opportunity to find a technology that would improve its QC workflow.
Since implementing ACES, the company not only successfully launched its updated quality control initiatives, but also gained tangible efficiencies in its QC processes:
- Replaced email and spreadsheets as a means for sharing information, with a secure, real-time online platform that connects multiple QC locations
- Reduced turn times for month-end reports from several days to roughly one hour
- Accelerated configuration times from as much as five days, to just a few minutes.
Bay Equity was looking for an enterprise QC platform that was highly configurable to meet its unique business needs.
“We love that ACES’ configurability gives such versatility in the ways we can use the technology,” said Clouse. “We’re looking forward to expanding use into our servicing QC audits and possibly within other Bay Equity departments.
“Proactive companies like Bay Equity always appreciate the superior implementation experience our client success team delivers,” said Phil McCall, president of ARMCO. “We’re thrilled to welcome Bay Equity to the ARMCO client family and we’re looking forward to delivering an ongoing exceptional client experience.”
For more details on how ARMCO helped Bay Equity reach their qc goals and meet deadlines, read the client case study (PDF): http://www2.armco.us/l/47622/2019-09-24/7sbw3z/47622/198741/ARMCO_Bay_Equity_Case_Study_8.5x11_final_V2.pdf
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 http://www.armco.us/ or call 1-800-858-1598.
News Source: ACES Quality Management
