ACES: Rate of Critical Defects in Closed Mortgages Fell Again in Q1

MortgageOrb | By Michael Bates

Published September 17, 2021

The rate of critical defects in mortgage loans post-closing fell to 2.01% in the the first quarter, down from 2.09% in the fourth quarter of 2020, according to the ACES Mortgage QC Industry Trends Report.

It was the second consecutive quarter that the overall rate of defects decreased, helping to reverse a spike that came in the second quarter of 2020. The report is based on data from ACES Quality Management & Control software.

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