Category: Article

September 17, 2019

Fewer critical defects in closed mortgages, but income errors rise

By Brad Finkelstein

September 16, 2019

While the critical defect rate for closed mortgage loans fell on a quarter-to-quarter basis, there were increases in income and packaging-related deficiencies, an Aces Risk Management study found.

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September 17, 2019

MBA Insights Slideshow: ARMCO Q1 2019 Mortgage Quality Control Industry Trends

Slideshow: ARMCO Mortgage Quality Control Industry Trends

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September 16, 2019

ARMCO: Technology Helped Lower Mortgage Defect Rate in Q1

By Patrick Barnard - September 16, 2019

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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July 17, 2019

Expert: Digital mortgages could lead to higher paying positions

HousingWire sat down with ARMCO executive Volpe to talk about the housing industry’s end goal for the digital mortgage.

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April 02, 2019

Loan Quality in the Era of ULDD and URLA

Mortgage Compliance Magazine by Phil McCall | April 2, 2019

One of the more pressing initiatives over the past year relates to the updates to the Uniform Residential Loan Application (URLA) and the Uniform Loan Delivery Dataset (ULDD). For the first time in about 20 years, the URLA is getting a major overhaul and it isn’t just cosmetic. The URLA has a whole new format, with new fields, data points and requirements. With the initiatives going into effect in February 2020, it’s high time that lenders take a look at how they will impact the industry’s approach to loan quality going forward.

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March 20, 2019

ARMCO QC Trends Report Shows Defect Uptick

MBA NewsLink by Mike Sorohan | March 20, 2019

ACES Risk Management, Pompano Beach, Fla., said its Critical Defect Rate rose in the third quarter of last year to its second-highest level since the TILA/RESPA Integrated Disclosure rule went into effect.

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March 19, 2019

Downsizing Continued to Impact Rate of Critical Defects in Mortgages in Q3

MortgageOrb by Patrick Barnard | March 18, 2019

The rate of critical defects in mortgage applications increased to 1.89% in the third quarter, up from 1.71% in the second quarter to reach the highest level since October 2015, according to ARMCO’s latest quarterly QC Trends Report. That’s an increase of roughly 11% from the previous quarter.

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January 03, 2019

What’s Impacting Post-Close Loan Defects?

MReport by Radhika Ojha | January 3, 2019

Critical defects attributed to Borrower and Mortgage Eligibility increased by 70 percent to 11.36 percent in the second quarter of 2018, according to the latest Mortgage QC Industry Trends Report by Aces Risk Management(ARMCO).

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