Tag Archives: Critical defects

“With 1.3 million loans still in active forbearance along with the renewed focus on servicing from the CFPB and other regulators, servicers and lenders alike must be diligent in their compliance practices,” said Nick Volpe, ACES EVP.

Critical defects are down compared with Q1 of 2016, according to ACES Risk Management (ARMCO) in its Q4 Mortgage QC Industry Trends. The report details a breakdown of the final quarter of 2016, including defect rates and findings for each Fannie Mae loan category. It also predicts, with the continued understanding of TRID and its impact, critical loan defects should continue to trend downwards in 2017.