Critical defects related to loan package documentation doubled from 2017 to 2018.
And in the fourth quarter of 2018, defects attributed to categories related to underwriting/eligibility continued to dominate overall quality issues, according to a new report from ACES Risk Management (ARMCO).
Read on for more highlights of the report, which also showed an increase of critical defects in Federal Housing Administration (FHA) loans and in the income/employment categories.
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