ACES Quality Management says that rising insurance defects had an outsized impact in Q3 2024, and it called on lenders to stay vigilant and avoid issues in 2025
The overall defect rate for mortgages declined across all loan types between the second and third quarters of 2024. But errors related specifically to insurance increased significantly, growing to 3.03% of all defects, according to a report released Thursday by ACES Quality Management.
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