Why COVID-19’s full effect on loan quality has yet to be seen

National Mortgage News | Nick Volpe, EVP of ACES Quality Management

Published January 20, 2021

2020 will be remembered as an anomaly of a year, with the effects of COVID-19 rippling through nearly every aspect of the economy. While the mortgage industry experienced record loan volume, the pandemic created circumstances that impacted loan quality and exposed lenders to greater risk. As we close the books on 2020, analysis of post-closing QC data from the second quarter shows the industry has yet to feel the pandemic’s full effect on loan quality — meaning lenders shouldn’t consider themselves out of the woods just yet.

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