Rate of Critical Defects in Mortgage Loans Fell in Q4 – Along With Volume

MortgageOrb | Michael Bates

Published June 14, 2023

The rate of defects in mortgage loans post-closing fell in the fourth quarter of 2022 as mortgage origination volume slowed to a trickle, according to ACES Quality Management’s latest Quality Control Trends Report.

As per the report, only 1.84% of loans sampled included critical defects – that is, errors that otherwise might have prevented the loan from closing without additional exceptions.

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