ACES Risk Management, Denver, released its quarterly ARMCO Mortgage QC Trends Report, showing critical defect rates improved from the fourth quarter to the first and in 2019 overall.
“Reduced interest rate volatility and declining interest rates over the course of the year created an environment in which lenders rode a sustained wave of refinances, increased their overall loan production and improved their profitability – all of which contributed to the improvements in loan quality in 2019,” said ARMCO Executive Vice President Nick Volpe. “With the rate environment expected to remain unchanged throughout 2020, the loan quality levels observed in 2019 seem sustainable.”
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