Critical Defect Rate Falls for 2nd Straight Quarter

ACES Quality Management, Denver, said the overall critical defect rate declined for the second straight quarter despite a more challenging mortgage lending environment.

Industry Briefs July 12, 2022: Sales Boomerang, Mortgage Coach Merge

Sales Boomerang, Owings Mill, Md., an automated borrower intelligence and retention system, and Mortgage Coach, Irvine, Calif., a platform enabling mortgage lenders to educate borrowers with interactive home loan presentations, announced their merger and appointed SaaS executive Richard Harris as CEO.

ACES: 4Q Critical Defect Rate Rises to 1.95%

The company’s Q4 Mortgage QC Industry Trends Report found the overall critical defect increased 0.08% to 1.95%, a change of 4% from the prior quarter, as lenders transitioned to a purchase-heavy lending environment.

Critical Defect Rate Down 18%

ACES Quality Management, Denver, said mortgage lenders managed loan origination quality “extremely well” in the third quarter, leading to an 18% improvement in overall credit defect rates.

Industry Briefs Apr. 1, 2022: Homebridge Launches ‘Our Community’

Homebridge Financial Services Inc., Iselin, N.J., launched its “Our Community” hub on the company’s website. This resource provides a new level of transparency about Homebridge’s current diversity and inclusion internal workforce efforts and measures progress.