The latest review of loan quality findings by ACES Risk Management (ARMCO) finds that critical defects dropped as refinance originations rose.
The ARMCO Mortgage QC Trends Report for the third quarter of 2017 reviewed loans that showed the industry remaining in a purchase-driven market, even as refinances ticked up. In keeping with a trend reported in the previous two quarters, the reported net critical defects for Q3 2017 appear to be affiliated primarily with the process of underwriting a mortgage loan.
Read on for more insights from the report.
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