This integration establishes fully electronic communication between ARMCO's quality control software, ACES Web Audit Technology(TM), and Kroll Factual Data's Verify platform. This enables ARMCO customers to obtain Kroll Factual Data's re-verification services from directly within the ACES system. Order forms are pre-populated with loan data pulled from ACES and are sent directly to Kroll Factual Data. Upon completion, the re-verification information is uploaded back into the loan file contained within ACES and provided to the analyst for review, thereby creating a single-system of record.
"The cost of compliance and the hours spent on compliance have gone up significantly in the past few years," said Avi Naider, chairman and chief executive officer for ARMCO. "ARMCO's ACES platform eases this burden through automation of audit workflow, data capture and reporting. By partnering with Kroll Factual Data, ACES customers will now benefit from a best-in-class solution that further reduces processing times, as well as the cost of processing."
Re-verifications can be supported on a one-off basis or processed in bulk. Kroll Factual Data services included in this integration are:
* Employment and income verification;
* Tax return verification (4506-T);
* Social Security Number (SSN) verification;
* Verification of deposit.
"Our outsourced verification services save customers time and money, allowing them to progress from manual to automated processing" said Rod Bazzani, president of Kroll Factual Data. "Working with ARMCO enables us to offer customers a one-stop, automated and integrated system of record for all of their loan auditing and re-verification needs."
About ARMCO:
ARMCO - ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions. ARMCO's flagship product, ACES Web Audit Technology(TM), is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable. ACES Web standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans. For more information, visit http://www.armco.us/ or call 1-954-202-5606.
About Kroll Factual Data:
Kroll Factual Data is a trusted provider of credit, risk mitigation, and third party verification services to the real estate industry. For nearly 30 years, Kroll Factual Data has been helping clients confidently make prompt, accurate decisions, mitigate risk, enhance safety and soundness, and increase operational efficiency. For more information, please visit http://www.krollfactualdata.com/ .
NEWS SOURCE: ARMCO ACES Risk Management :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by Send2Press® Newswire, a service of Neotrope®.