Credit quality has improved over the last two years, according to Chris Mock, vice president of single-family quality control for Freddie Mac, but there is still plenty of room for improvement. These days he said the top three common defects are missing documentation, insufficient funds to close, and insufficient income. “The first one is we are unable to calculate income and match it to the income the lender calculated on the loan file,” he said in an interview with Inside The GSEs. “And that one is mainly driven by documentation that is missing when the customer sends us a file.” Mock said that Freddie shares a list of the top 10 missing documents with lenders...