The rule has been in the works for 14 years.

The mortgage delinquency rate declined to 3.04% as of the end of May, down from 3.09% at the end of April, according to Intercontinental Exchange.

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.

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

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

PMT is a sister company to PennyMac Financial Services, one of the largest lender/servicers in the nation.

The termination only applies to activity in the Des Moines, IA, HUD field office.