As purchase mortgages shrank in the third quarter last year, the number of critical defect rates decreased, according to the Q3 2017 ARMCO Mortgage QC Industry Trends report from ACES Risk Management.
The mortgage critical defect rate rose from 1.31% to 1.51% in Q2 2025, driven by collateral and eligibility defects. The refinance defect share increased amid more cash-out transactions. AI Summary ...
—We expect this trend to continue into July, as the impacts of ‘Brexit’ and global uncertainty keep rates low, triggering an increase in the volume of lower risk refinance loan applications, says ...
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