Defects across all underwriting categories are on the rise and ‘lenders need to double down’ on precautions, according to ACES Quality Management
Click here to readAs both origination volume and interest rates increased during the second quarter, mortgage defect rates rose too, increasing by nearly 15% compared with the first quarter, Aces Quality Management said.
Click here to readACES Quality Management, Denver, found the overall critical defect rate increased to 1.81% during the second quarter, moving closer to the precarious 2% threshold.
The rate of critical defects found in mortgages post-closing increased to 1.81% of all loans in the second quarter, according to ACES Quality Management (ACES), a provider of enterprise quality management and control software.
Click here to readDENVER, Colo., Nov. 20, 2024—ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the second quarter (Q2) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.
Click here to readACES Quality Management, which offers quality control software to the mortgage industry, reports that it recently added 10 new credit union clients to its roster.
Click here to readDENVER, Colo., Nov. 12, 2024—ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the addition of 10 credit unions to its growing customer base. These organizations leverage ACES Quality Management & Control Software® to improve quality and mitigate risk across multiple internal areas, including mortgage lending, consumer lending, deposit accounts and more.
Click here to readACES' EVP of Compliance, Amanda Phillips, has been selected to speak at CA MBA's 2024 Legal Issues and Regulatory Compliance Conference on Tuesday, December 10th in Irvine, CA.
Click here to readEven before the Federal Reserve cut rates by 50 basis points, sentiment among our lender clients had shifted noticeably. They were more optimistic and, for the first time in two and a half years, focused once again on capacity and not just cost reduction.
Click here to readCome visit Team ACES at the upcoming America's Credit Unions Lending Council Conference at Table #T12.
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