The latest review of loan quality findings by ACES Risk Management shows a 25 percent increase in the number of defects attributed to the loan package documentation category.
These defects are often associated with downsizing and understaffing.
Meanwhile, the ARMCO Mortgage QC Trends Report for the first quarter of 2018 also showed a drop in defects in the borrower and mortgage eligibility category. Read on for more highlights from the report.
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