The third quarter of 2018 saw the second-highest defect level since the TRID rule went into effect in October 2015.
The critical defect rate reached 1.89 percent, increasing about 11 percent from the previous quarter’s 1.71 percent rate, according to a new report from ACES Risk Management (ARMCO).
Read on for company president Phil McCall’s analysis on the ARMCO Q3 Trends Report, which found critical defects related to loan package documentation especially daunting.
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