ACES: Critical Defect Rate Down for Q1 2023

ACES Quality Management, Denver, reported the overall critical defect rate for the first quarter of 2023 was 1.78%. That’s down 3.26% from the previous quarter, and the second straight quarter of declines.

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.