The defect rate for mortgages grew significantly across all loan types in the second quarter of 2024, continuing a trend seen in the first quarter. The share of loans with defects grew to 1.81%, according to a recent report released Wednesday by ACES Quality Management.

The Denver-based quality control company compiles a quarterly report that is derived from post-closing quality control data gathered by the company’s benchmarking software. Adjustments are made to reflect trends from prior quarters and years. Lender-selected loan audits were the primary data source for the Q2 2024 report.

Critical defects were found in 1.81% of details ⇒

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