For the fourth quarter in a row, critical defects related to loan package documentation continued a downward spiral, according to a new report from ACES Risk Management (ARMCO).
In addition, the overall critical defect rate in the third quarter of 2019 was at its lowest point since the fourth quarter of 2016, while income/employment defects were up slightly.
Read on for reaction from ARMCO Executive Vice President Nick Volpe.
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