An ACES Quality Management report finds that critical mortgage defects declined in the second quarter, even as income calculation errors, borrower eligibility issues, and appraisal findings increased
Lenders saw fewer critical loan defects in the second quarter, but errors tied to income calculations, borrower eligibility, and appraisals became more prevalent, according to a new report from ACES Quality Management.The overall critical defect rate fell to 1.64%, down from...
Proposition 37 could open new purchase lending opportunities, but financing costs and borrower qualification will determine its reach
California voters have approved a $25 billion homebuyer financing initiative that could create new purchase mortgage opportunities for lenders and brokers, particularly those working with homebuilders.Proposition 37, which passed with more than 60% of the vote in the Nov. 3 ...
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