Tag Archives: Mortgage Application 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.

First American released their Loan Application Defect Index for September 2015 on Wednesday, which reflects estimated mortgage loan defect rates over time, by geography and by loan type, and estimates the frequency of defects in the information submitted in mortgage loan applications. According to the Index, loan defects in mortgage applications declined 1.2 percent from August to September. The Index is now down 20.6 percent from the high point of risk in October 2013.