The frequency of loan defects, fraud, and misrepresentation in the information submitted in mortgage loan applications remained flat in April 2018, but increased slightly over April 2017. That’s according to the latest release of the Loan Application Defect Index, published Wednesday ...
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Defects in a chain of title can have devastating effects on the mortgage servicer’s ability to recover an asset associated with a nonperforming loan. The webinar discussed how to navigate regulation and correct mistakes, and what to look out for in judicial foreclosure states.
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According to the January 2017 Loan Application Defect Index compiled by the First American Financial Corporation, defect, fraud, and misrepresentation risk has increased as market composition shifts to riskier purchase transactions. "While technology adoption has reduced risk for both purchase and ...
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