Mortgage production defect rates declined in 4Q

National Mortgage News | By Brad Finkelstein

Published June 16, 2023

Improvements in mortgage loan production processes resulted in fewer manufacturing errors in the fourth quarter of 2022 versus the previous three-month period, according to Aces Quality Management.

But because of the high number of findings in the second and third quarter, the full-year rate increased by 6 basis points to 2.07% compared with 2021 when it was 2.01%.

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