Category: Article
After two years of record mortgage volumes, the government-sponsored enterprises are finally checking the loans they purchased during this time frame to see if they comply with the guidelines.
Click here to readThe 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...
Click here to readCritical defects on mortgage applications reached a new high in the third quarter last year, in a period when originations declined steeply and competition heightened, according to a new report from Aces Quality Management.
Click here to readACES Quality Management, Denver, said the overall critical defect rate for mortgage underwriting in the third quarter rose to a series high.
Click here to readCredit Union Journal spoke with Amanda Philips, EVP of compliance at ACES Quality Management, about why down cycles are an ideal time for credit unions to shore up their compliance and quality control processes.
Click here to readHousingWire recently spoke to Amanda Phillips, executive vice president of compliance at ACES Quality Management, about getting servicing staff and technology ready to meet upcoming regulatory requirements while ensuring quality throughout the life of the loan.
Click here to readMortgage applications have been on the rise for the last three weeks. As we began the year at record-low applications since 1996, this is some much-needed optimism for the industry. However, 2023 is still expected to be a challenging environment.
Click here to readOf course, regulators are not the only ones concerned with loan quality. Within the last year, Fannie Mae updated its QC reporting guidelines, with additional changes expected to come in 2023.
Click here to readACES Quality Management has released the findings of its latest Industry Trends Report for the second quarter of 2022 which found that the overall critical defect rate increased 6% compared to the first quarter of the year, and crossed the 2% threshold for the third time in report history.
The most common reasons cited for borrowers that critically fell behind include loss of income or loss of employment.
Click here to readACES 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.
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