Loan quality lessons learned from 2020

Q3 2020 saw the highest quarter-over-quarter increase in critical defect rates since 2016

Published May 25, 2021

HousingWire | May 25, 2021

HousingWire recently spoke with Trevor Gauthier, CEO of ACES Quality Management, about the effects of 2020 on loan quality and what lenders should expect regarding loan quality and risk management this year.

HousingWire: What did the mortgage industry learn from the past year from an operational perspective?

Trevor Gauthier: 2020 was a wake-up call in terms of building a roadmap to increase your organizational efficiency and how technology needs to be a cornerstone of that plan. Navigating a remote work environment on a never-before-seen scale and maintaining long-distance collaboration while maintaining operational efficiency, compliance and data security was foreign territory for most, requiring the industry to be flexible in a way it hasn’t before.

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