Lenders have made major improvements in mitigating risks from compliance with the TILA-RESPA Integrated Disclosure over the past year, according to a new report from ARMCO.
In its Q1 Trends Report, ARMCO found that the improvement in compliance with TRID shifted the leading critical defects in loans away from legal, regulatory and compliance issues.
The report found that in the first quarter, the top defect category was borrower and mortgage eligibility, which was 24 percent of all reported critical defects. Read on for more on the top defect categories, and insight behind the reasons for the shift.
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