Declining for the fifth consecutive month, the Loan Application Defect Index for purchase transactions continued its downward trend, falling 3.8 percent in August compared with July. The Defect Index for refinance transactions also fell, declining 4.3 percent compared with the previous month. The overall Defect Index, which includes both purchase ...
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The Loan Application Defect Index for purchase transactions continued its downward trend, declining 3.6 percent in July compared with June, the fourth consecutive month defect risk in purchase transactions has fallen. The Defect Index for refinance transactions also fell 4.2 percent compared with the previous month. The overall Defect Index, which ...
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This month, the Loan Application Defect Index for purchase transactions continued its downward trend, declining 7.8 percent in June compared with the month before, the third consecutive month defect risk in purchase transactions has fallen. The Defect Index for refinance transactions also fell 6.5 percent compared with the previous month. The ...
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Last month, we predicted that if mortgage rates continued to fall, it may help ease the pressure on fraud risk. Indeed, the 30-year, fixed-rate mortgage fell to its lowest level since January 2018, and fraud risk has fallen alongside it. The Loan Application Defect Index for purchase transactions declined 6.3 percent in May compared with April, ...
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The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications declined 4.2 percent compared to last month. Notably, this marks the first month-over-month decline since July 2018, thanks to lower mortgage rates. Decreasing mortgage rates contributed to an increase in inventory, reducing the ...
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Loan application defect risk for purchase transactions continued its upward trend in March, increasing 1.0 percent month-over-month, according to the Loan Application Defect Index. Defect risk for purchase transactions has risen for seven consecutive months, however, the pace of growth slowed to its lowest point over that time span. Overall, the ...
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