ACES Quality Management, Denver, released its Mortgage QC Industry Trends report for the fourth quarter of 2023, finding that the critical defect rate decreased to 1.53%.
Tag: Mortgage QC Trends Report
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.
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.
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.
ACES: Q2 Critical Defect Rate Up 13%
ACES Quality Management, Denver, reported a13% increase in overall critical defect rates to 2.27%, ending a multi-quarter trend of improvement.
ACES: Q4 Critical Defect Rate Moderates, But Remains High
ACES Quality Management, Denver, said overall critical defect rates improved in the fourth quarter but remained high for calendar year 2020.
ACES: Critical Defect Rate Highest Since 2018
ACES Quality Management, Denver, said its quarterly Mortgage QC Trends Report for the second quarter reported the overall critical defect rate of 1.88% is the highest quarterly rate since 2018.
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