As per a consent order with the CFPB, Navient has agreed to pay $120 million in restitution and fines and permanently exit federal student loan servicing.

The Federal Reserve announced a 50-basis-point reduction in the federal funds rate this week. Interest rates on mortgages have come down by more than that in recent weeks in anticipation of the Fed’s move.

Private-equity firms still love MSRs, apparently. But will declining mortgage rates diminish PE demand for servicing?

The CFPB has 30 days to amend its complaint against Loan Originator Services as part of a fair lending lawsuit filed against a Texas-based developer and lender, Colony Ridge.

Zillow will advertise on its platform a HUD campaign that seeks to create awareness of the availability of housing counseling services.

The Renewing Opportunity in the American Dream to Housing Act seeks to improve housing counseling and financial literacy programs.

FHA Commissioner Julia Gordon is seeking more federal funding to address ongoing challenges in housing supply and affordability.

Better Mortgage launched the product as part of an effort by the lender to expand its government-insured mortgage originations.

FHA recently posted a draft mortgagee letter proposing revisions related to how it will handle partial claim document recording and payoff statements.

The Mortgage Bankers Association and the Housing Policy Council have called for specific changes to the proposed updates to FHA’s defect taxonomy for servicing loan reviews.