Sutherland and NOVAD formed a servicing operation in 2014 to service HECMs on behalf of HUD.

The groups noted that the availability of property insurance in California is declining and prices are rising.

The CFPB issued a proposed order that would require Freedom Mortgage to pay a $3.95 million penalty for submitting “error-riddled” data under HMDA.

FHA is taking comments through June 24 on a draft mortgagee letter.

The Federal Reserve reported $445.78 billion of non-agency MBS outstanding at the end of March, up 2.6% from December.

CFPB Director Rohit Chopra said he believes the agency’s funding is in compliance with the appropriations clause.

J-T Gaietto, chief operating officer at ConvergentDS, a firm that helps assess cyber risks, said obtaining cybersecurity insurance “isn’t the easiest thing to accomplish.”

Home prices are slowing and an expected decline in interest rates could prompt further changes in the trajectory of home prices.

Total 1-4 family mortgage servicing outstanding hit a record $14.027 trillion at the end of March. Nonbanks handled 50.2% of the total, compared to 49.6% as of the end of 2023.

Panelists at the Non-QM Forum noted the growing demand for non-QM whole-loan sales.