Author: PROGRESS In Lending

In The NewsQuality Assurance

Critical Defect Rate Rises To 1.58%, Per ACES Mortgage QC Industry Trends Report

PROGRESS In Lending

ACES Quality Management® (ACES), a provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the first quarter (Q1) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software. Notable findings from the Q1 2024 report include the following:

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Borrower OutreachIn The News

Borrower Survey Finds 60% Of Homebuyers Experience Frustration During The Mortgage Process

PROGRESS In Lending

According to a new survey conducted by Snapdocs, a digital closing provider, 60% of homebuyers experience frustration during the mortgage process. The key factors borrowers identified as negatively impacting their experience occurred during the closing, including document errors, lengthy in-person appointments, and unexpected caretaking and travel costs. Borrowers who were given the option to close digitally, or even just preview the documents digitally, reported higher satisfaction with their mortgage process.

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ComplianceIn The News

MBA Applauds Senate Inclusion Of Trigger Leads Amendment In Fiscal Year 2025 NDAA

PROGRESS In Lending

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after Senate Armed Services Committee Chairman Jack Reed (D-RI) and Ranking Member Roger Wicker (R-MS) included Senate Amendment 2358, the text of the MBA-supported bill to end the abusive use of mortgage trigger leads (“Homebuyers Privacy Protection Act”), as part of their managers’ amendment to the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA):

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In The NewsPartnership

JV Will Support The Expansion Of A&D’s $7 Billion Mortgage Securitization Platform

PROGRESS In Lending

Atlas Merchant Capital LLC (“Atlas”), a global alternative investment firm based in New York and London, A&D Mortgage, LLC (“A&D”), a nationwide wholesale lender, and Imperial Fund Asset Management (“Imperial”), a residential mortgage investment manager and a capital markets advisor, announced a joint venture partnership (“JV”) between A&D Mortgage and Atlas Merchant Capital that will support the expansion of A&D’s $7 billion mortgage securitization platform.

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In The NewsPartnership

Middleton Advisory Group Partners With RBI

PROGRESS In Lending

Redefining Business Intelligence (RBI), a data science company that uses AI and experienced business analysts to pull actionable insights from very large data sets, announced a new partnership with Middleton Advisory Group, LLC (MAG) that will see the consultancy use RBI Playbooks to enhance the results its advisors deliver clients. Middleton is the first mortgage industry consultancy to embrace the concept of engaging an outsourced data science department.

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