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: 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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ARMCO: Critical Defect Rate Drops 9%

ACES Risk Management, Denver, said the overall critical defect rate reached 1.56% in the third quarter, to the lowest defect rate since 2016.