3Q Critical Defect Rate Posts Series High  

ACES Quality Management, Denver, said the overall critical defect rate for mortgage underwriting in the third quarter rose to a series high.

ACES: Critical Defect Rates Up 6%

ACES Quality Management, Denver, issued its quarterly Mortgage QC Industry Trends Report, showing the overall critical defect rate increased by 6% in the second quarter to 2.05%, crossing the 2% threshold for only the third time in this report’s history.

Sharon Reichhardt of ACES Quality Management: Changes to Fannie Mae’s Pre-Funding QC Requirements are on the Horizon. Are You Ready?

At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements. While specifics regarding the changes remain to be seen, the teaser serves as a warning for lenders to shore up their current pre-funding QC program to ensure they are ready to meet the new standards.

Sharon Reichhardt of ACES Quality Management: Changes to Fannie Mae’s Pre-Funding QC Requirements are on the Horizon. Are You Ready?

At the recent Mortgage Bankers Risk Management, Quality Assurance and Fraud Prevention conference, Fannie Mae hinted at forthcoming changes to its pre-funding quality control requirements. While specifics regarding the changes remain to be seen, the teaser serves as a warning for lenders to shore up their current pre-funding QC program to ensure they are ready to meet the new standards.