ARMCO: Technology Helped Lower Mortgage Defect Rate in Q1

September 16, 2019   |   Article

By Patrick Barnard - 

The rate of critical defects in mortgage loans continued to fall in the first quarter, dropping to 1.82% of all loans, a decrease of 6% compared with 1.93% of all loans in the fourth quarter of 2018, according to the ARMCO QC Trends Report.

Although the rate of defects was down overall, there was a slight uptick in defects related to underwriting and eligibility, with more defects attributed to income/employment than any other category.

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