ACES Risk Management (ARMCO) has updated its ACES Audit Technology, adding new functionality that aligns with Fannie Mae’s Day 1 Certainty (D1C) initiative, the company announced.
The company’s audit technology now includes additional fields for assessing asset, income, employment and collateral data according to the D1C initiative. The company said it also updated its rule-based technology to assist auditing these loans according to the D1C initiative.
“Lenders can gain added protection under Fannie Mae’s Day 1 Certainty initiative, but they have to follow certain protocols,” ARMCO Chief Operating Officer Phil McCall said in a release.
“We updated ACES so our clients can automate their auditing process to account for the different checkpoints associated with D1C. Our clients know that ARMCO’s mission is protecting their businesses. They know they can rely on us to stay on top of all guidelines, initiatives, regulations and trends, and they know we will continue providing the tools that help them grow and protect their businesses, not just for now, but also for the long haul,” McCall added.
ARMCO said the technology update went into effect on June 12, 2017.