POMPANO BEACH, Fla., Sept. 17, 2018 (SEND2PRESS NEWSWIRE) — ACES Risk Management (ARMCO), the leading provider of technology for loan quality and compliance testing, data validation and analytics, announced the launch of DataSure™, a quality control technology that increases data validation accuracy and efficiency, and reduces lenders\u2019 data validation task times by 50 percent or more.<\/p>\n
![\"ARMCO](\"https:\/\/www.send2press.com\/wire\/images\/17-0925-armco-aces-risk-696x522.jpg\" "\\"ARMCO")
\n\u201cMost loans contain at least one data discrepancy that can negatively impact lenders\u2019 revenue through buybacks, delays, loss of investor confidence, and longer warehouse dwell times,\u201d said Phil McCall, president of ARMCO. \u201cIf lenders don\u2019t use a robust data validation technology, they can expect discrepancies that cost them tens or even hundreds of thousands of dollars in unnecessary expenses.\u201d<\/p>\n
In a matter of moments, DataSure validates loan data for thousands of key data points within a lender\u2019s source system (i.e. loan origination system) by cross referencing those data points against data contained in loan documents. It then automatically communicates all corrected data fields back to the lender\u2019s source system. This assures data consistency and accuracy at each step of the loan process. DataSure also provides robust reporting capabilities, so lenders can identify the root causes of their data discrepancies and adjust their practices going forward.<\/p>\n
Most lenders assign the task of data validation to their underwriting teams, who fulfill the process using the manual \u201cstare-and-compare\u201d method\u2014a tedious, time consuming and error-prone process and one of the primary drivers behind the large number of discrepancies. In addition to increasing the risk of errors and inaccuracies, this method allocates underwriters\u2014one of lenders\u2019 highest paid and most skilled human resources\u2014to an activity that can be accomplished much faster, more accurately and more economically with technology.<\/p>\n
\u201cThe best way to protect current profits and future longevity is to be proactive about loan quality,\u201d said McCall. \u201cDataSure is one more ARMCO tool that the mortgage community can use to drive the health and growth of their businesses.\u201d<\/p>\n
About ARMCO:<\/strong> The company\u2019s flagship product, ACES Audit Technology<\/a>™,\u00a0can be used at any point in the mortgage lifecycle, and is so user-definable, its capabilities extend outside of origination and servicing, into a wide range of risk-prone audit-able business operations.<\/p>\n
\nARMCO \u2013 ACES Risk Management\u00a0has served\u00a0the finance industry with risk management software\u00a0for over 25 years and is the recognized authority on mortgage risk. Today, in addition to an array of loan quality enterprise software,\u00a0services, data and analytics, the company also provides the ARMCO Mortgage QC Industry Trends Report<\/a>, a free quarterly analysis of industry-wide mortgage loan quality.\u00a0ARMCO provides its clients with insights\u00a0based on decades of risk analysis intel, so they always have\u00a0the fastest, most reliable, most efficient means for preventing risk-related loss,\u00a0and creating effective risk strategies going forward.<\/p>\n