A historical view of overall defect risk, as measured by our Loan Application Defect Index, shows a long-run downward trend since we began tracking defect risk in 2011, with a few exceptions. In February 2020, this long-run trend continued as overall defect risk reached its lowest level in index history. The Defect Index for purchase transactions ...
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Overall defect risk, as measured by our Loan Application Defect Index, has largely trended down since early 2019 with a few exceptions. In January 2020, this long-run trend continued as overall defect risk reached its lowest level since we began tracking it in 2011. While the Defect Index for purchase transactions remained the same after two ...
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For the majority of 2019, overall fraud risk steadily declined, largely due to the rising volume of lower risk refinance transactions driven by low mortgage rates. After falling since March, overall defect risk stabilized in November, and then declined again in December. The overall Defect Index, which includes both purchase and refinance ...
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As we predicted last month, the Loan Application Defect Index for purchase transactions reached a turning point in November. After falling since March, the Defect Index for purchase transactions increased 2.7 percent compared with October, while the Defect Index for refinance transactions fell by 1.6 percent, its eighth straight month of declining ...
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Based on our analysis, if mortgage rates continue to fall, the pressure on fraud risk may weaken. This has played out throughout most of 2019, as the 30-year, fixed mortgage rate has been falling since December 2018, and overall fraud risk alongside it. Fraud risk began declining in March 2019 and reached a historical low in October. The Loan ...
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Declining for the sixth consecutive month, the Loan Application Defect Index for purchase transactions fell 2.6 percent in September compared with August. The Defect Index for refinance transactions also fell, declining 4.5 percent compared with the previous month. The overall Defect Index, which includes both purchase and refinance transactions, ...
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