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 ...
The national critical defect rate for mortgages fell to 1.16% in the fourth quarter of 2024. That marked the second-lowest level on record, according to a report released Thursday by ACES Quality ...
Falling rates spurred a refi surge that pushed defect rates to 1.79% in Q3, driven by income and compliance documentation gaps as lenders ran lean, per Aces Quality Management.
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