As purchase mortgages shrank in the third quarter last year, the number of critical defect rates decreased, according to the Q3 2017 ARMCO Mortgage QC Industry Trends report from ACES Risk Management.
The national critical defect rate for mortgages fell to 1.16% in the fourth quarter of 2024. That marked the second-lowest level on record, according to a report released Thursday by ACES Quality ...
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