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Loan Application Defect Index shows stabilization
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The Blotter
Wednesday, April 3, 2019
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First American Financial Corp. released its Loan Application Defect Index for February 2019, noting that income-specific defect risk has stabilized. It also finds that in a seller’s market, there is more motivation to misrepresent income on a loan application to qualify for a bigger mortgage and win a potential bidding war. Read on for more details.
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