ACES: Mortgage Loan Defect Rate Jumped 20.5 Percent During Q2 2022

MortgageOrb | By Michael Bates | March 23, 2023

Published March 27, 2023

The rate of critical defects in mortgage loans post-closing increased 20.5% during the second quarter of 2022, rising to a rate of 2.47% of all loans by the start of the third quarter 2022, as lenders struggled to keep every piece of business that came their way, according to the quarterly ACES Mortgage QC Industry Trends Report.

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