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The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage applications remained the same in April compared with March, according to the latest Loan Application Defect Index report from First American Financial Corp. On a year-over-year basis, the index increased by 1.2 percent.
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SANTA ANA, Calif., Dec 28, 2017 (business wire) — First american financial corporation FAF, +0.78%, a leading global provider of title insurance, settlement services and risk solutions for real.
First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the First American Loan Application Defect Index for July 2017, which estimates the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications.
The index, published at the end of each month, reflects the cost of deposit. recent 12 months, of the one-year constant maturity Treasury (CMT) index. The mortgage keeps the same rate of interest throughout the 30-year term. Curable defect, A minor or inexpensive problem with a property that can be remedied.
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Mortgage rates hold steady but could be primed to move lower. the market composite index – a measure of total loan application volume – increased 8.1 percent from a week earlier. The.
The First American Loan Application Defect Index estimates the level of defects detected in the information submitted in mortgage loan applications processed.
First American’s Loan Application Defect Index for refinance transactions was unchanged from July to August and down 1.4 percent from August 2017. The Defect Index for purchase transactions was also unchanged from July and down 13.2 percent compared with a year ago.