QC Trends Report: Provided by ACES
ACES Quality Management is a known leader in quality control and loan auditing for the financial industry. Spillane Consulting Associates utilizes ACES in multiple ways, most notably for pre- and post-close QC services. This not only enables us to provide superior service to our Clients, but also ensures we stay up to date in the ever-changing world of compliance and GSE requirements.
An added benefit of utilizing ACES is SCA’s access to Quarterly Trends reports, which analyzes QC data from all of ACES and evaluates changes in defect rates as well as within each defect category.
As demonstrated in this chart, we can see that based on the full file reviews of post-closing loan audits in all users of ACES, there was a sharp increase in defect rates related to Borrower and Mortgage Eligibility and in Loan Documentation categories from Q2 to Q3 2023. Conversely, we see improvements in Credit and Income/Employment defect categories over the same period. [1]
The team that manages loan quality at Spillane Consulting Associates boasts years of industry experience, and when you pair that with a top tier technology platform, and reporting metrics that keep you on track, the outcome is exceptional service and continued confidence in your commitment to loan quality. Contact our Director, Bill Dolan, for more information on the many ways SCA can assist you with loan quality and due diligence services, by phone at (617) 694-2617 or by email at wdolan@scapartnering.com.
[1] ACES | Q3 2023 ACES Mortgage QC Industry Trends (acesquality.com)
