The Automated Compliance and Evaluation System (ACES™) Since 1994, Engineered Business Systems, Inc. has been the leading provider of mortgage quality control solutions for hundreds of major US and multi-national mortgage bankers. EBS is the developer of ACES™, the Automated Compliance and Evaluation System, and DESC™, the Data Evaluation and Selection Criteria statistical sampling software. These have remained the solutions of choice for mortgage bankers seeking to reduce the time and cost associated with conducting mortgage quality control audits. Users have reported that ACES™ has proved to be the most time-efficient solution they’ve ever used, reducing the average time to conduct an audit by more than 50% over manual auditing — a boon to mortgage bankers seeking to maintain or reduce quality control labor costs while increasing loan origination volume. ACES™ Features Cost-Efficient The result of a $5 million development project, the Automated Compliance and Evaluation System (ACES™) is the most advanced mortgage quality control solution available today. ACES™ users enjoy all the benefits of the system at a fraction of the development cost. With its advanced features, ACES™ eliminates the need for mortgage bankers to develop far more costly in-house systems or to continuously upgrade third-party “off the shelf” modules that quickly go out of date. Advanced Design The Automated Compliance and Evaluation System (ACES™) was designed to meet both the current and long-range risk management and quality control needs of mortgage bankers — making ACES™ the most advanced and cost-efficient software solution available anywhere. The special design of ACES™ makes the system easy to install on a LAN or WAN server, and is easily maintained by end users with little or no IT involvement. Built-in security features provide management full control over individual user access to each system function as well as complete documentation of time spent by users on individual loans and audits. Fully Customizable ACES™ is a customizable system and multi-user platform that substantially increases the speed and accuracy of every step of the mortgage quality control review process — from defining audits to the reporting of findings. Multi-Purpose ACES™ may be stratified to provide unique platforms for segmenting types of mortgage audits, such as pre-funding mortgage audits or EPD audits, or to provide automation for consumer and/or commercial divisions as well. Portable ACES™ provides advanced import and export capabilities for branch auditing or pre-acquisition portfolio analysis. Download special ACES™ functions to laptops and upload the data into your central ACES™ system. Easy to Use ACES™ has a logical design, which makes it easy to learn and use. ACES™ with DB2 is universally installable and performs on any 32-bit Windows desktop environment. Multi-Version 
ACES™ Silver — The most cost-efficient quality control automation system for low- to medium-volume mortgage bankers with basic reporting needs. Complete with secure Internet request and retrieval access to produce and integrate Credit in-files and RMCRs. 
ACES™ Gold — All the features of ACES™ Silver with advanced Business Intelligence reporting capabilities. Ideal for enhanced management and investor reporting or advance portfolio evaluation reporting. Here are some examples of the graphing capabilities of the Business Intelligence module, available with ACES™ Gold.  Business Intelligence has integrated, easy-to-use, drag-and-drop selection of variables, as seen in this sample screen shot. By choosing the proper objects and conditions, graphs can be automatically generated. 
The graph illustrates the number of loans reviewed per quarter in each region of the country. We’ll gladly provide a demonstration of ACES™ in person or via the internet. Call EBS Marketing today at 800-283-2747 ext. 8126 for more information. 
Data Evaluation and Selection Criteria (DESC™) Proven Methodology Since 1998, the Data Evaluation and Selection Criteria software (DESC™) has been the software tool relied upon by many major US and multi-national mortgage bankers to save time and money by solving complicated mathematical equations related to investor compliance or comparative evaluations of loan aspects. This saves mortgage bankers the cost of employing a full-time Statistical Analyst to perform once-a-month calculations. Mathematical formulas using advanced algorithms provide the methodology used in DESC™ to deliver the most accurate statistical sampling possible. Sophisticated mortgage bankers use DESC™ to replace percentage-only sampling. DESC™ provides a far more accurate determination of the quantity of loans that must be reviewed to meet or exceed investor compliance requirements. By inputting accurate error rates and loan population sizes provided by the Quality Control department, and by using the methodology provided by DESC™, mortgage bankers are able to accurately determine the actual loan sample size needed for review, with the required confidence and precision levels factored into the calculations. To develop DESC™, Engineered Business Systems, Inc. employed professionals with PhDs in Applied Statistics and experience in the mortgage and technical manufacturing industries, to provide the mathematical foundation for the program. Certified mortgage quality managers and business risk management professionals provided the logic behind the mathematical formulations as applied to the loan quality assurance function. Highly skilled programmers provided the design and flexibility of structure; this was followed by beta-testing by a number of mortgage bankers throughout the US. Unlike other sampling software, DESC™ calculates all the factors necessary to provide the most accurate sample results. Cost Reduction Using DESC™ DESC™ meets the needs of mortgage bankers seeking to quickly and accurately determine the loan sample size needed for quality control reviews, while meeting or exceeding all investors’ compliance requirements. Statistical sampling is a way for mortgage bankers who produce a high volume of investor-acceptable mortgage loans to reduce the burden on their Quality Control departments. Those with moderate-to-high loan origination volumes and low error rates benefit immediately, realizing a substantial reduction in the number of loans that must be reviewed for compliance purposes. Many users report that the savings realized by using DESC™ makes it the software that quickly pays for itself many times over. The table below shows examples of such calculated results.
Greater Precision in Non-Stratified Sampling DESC™ allows the quality control professional to infer the sample findings to the entire loan population with the same precision rate that was input into the calculation. This means that a precision rate of 2% input into DESC™ applies to the findings of the current sample. DESC™ extrapolates the annual precision rate based on the current period. Other methods of calculation may reach the 2% precision level over a period of a year, which results in current sample variations as wide as 6% to 7%, a range too broad to make effective decisions today. Maximum Precision through Stratified Sampling In addition, DESC™ provides the ability to stratify predetermined risk groups (i.e., loans by investor type or by type of originator) for statistical sampling purposes, with the confidence levels, precision rates, and error rates of each loan type considered. Known as “stratification,” this function allows mortgage bankers to validate risk assumptions based on any number of factors, verifying the overall quality of the mortgage loans being sold into the secondary market. This methodology supports the mortgage bankers’ ability to maximize the information obtained from the quality control process, while minimizing the actual number of mortgage files to be reviewed. Sampling Documentation DESC™ not only provides the means to calculate loan sample sizes, but reports all the calculated levels of confidence and precision for each sample. These reports may be printed and included as part of the quality control audit documentation — ideal for investor compliance reviews. Graphing As the saying goes, a picture is worth a thousand words. The graphic reporting capabilities in DESC™ provide additional visual demonstration of calculated results and comparative results. This is a boon for mortgage quality control and risk managers wanting to quickly bring problem areas to light. 
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Copyright © 2001–2002 Engineered Business Systems, Inc. All Rights Reserved. |