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: 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.