Rising loan errors spell trouble ahead

Published March 01, 2018

Herald Tribune
By Lew Sichelman
March 2018

Fortunately, the upward trend in defective home loans is not likely to impact borrowers — at least not directly, says Phil McCall, president of ACES Risk Management (ARMCO), which offers quality control services to lenders. But bad loans could have devastating consequences for mortgage producers, who could be forced to buy them back from investors who purchased them on the secondary market.

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