According to the First American Loan Application Defect Index, October figures were 2.5 percent lower than September and 10.2 percent lower than the October 2014 figures. October marked the third consecutive month of declines, falling more than 6 percent over the past three months.

According to the First American Loan Application Defect Index, October figures were 2.5 percent lower than September and 10.2 percent lower than the October 2014 figures. October marked the third consecutive month of declines, falling more than 6 percent over the past three months.

The First American Loan Application Defect Index is estimated by the level of defects detected in mortgage loan applications processed by the company’s FraudGuard system. With a benchmark of 100 in January 2011, the index on a national and market-by-market basis is interpreted by a percentage value.

In the Washington-Arlington-Alexandria MSA, the index was reported at 74 in October 25.

    • The index dropped 1.33 percent on a month-over-month basis.
    • On a three-month basis, the index dropped by 2.63 percent.
    • The year-over-year change was a decrease of 7.5 percent.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Prepare for this fall with top agents & brokers at Connect Now this Tuesday.GET YOUR TICKET×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription