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The defendant has breached its "loan and security agreements and [Hometown founder Billy] Taylor has defaulted under his guaranty," the bank said.

With a scarcity of listings driving high home prices, both repeat and new purchasers are putting the most money down in decades, the report found.

Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.

Carl Peterson retired in June after more than a decade as vice president of small firm interests at the AICPA & CIMA. He has been named one of Accounting Today's Top 100 Most Influential People in Accounting every year since 2014.

Because the measure of the insurance fund's soundness remained well above its target, trade groups asked whether the cost of coverage could be further reduced.

Analysts have been debating the impact on household finances and the economy as Americans resume student loan payments. There's already a squeeze from higher interest rates, which are expected to slow consumer spending and economic growth.

The departures of David Benson and Jeffrey Hayward means decades of internal experience are leaving the company, said David Stevens.

Loan activity overall came in higher for the second week in a row, with interest rates flattened following an extended volatile period, the Mortgage Bankers Association said.

Jerry Maginnis, CPA, is a retired KPMG partner who served as the managing partner of the firm's Philadelphia office. He currently sits on several public company boards and is the author of "Advice for a Successful Career in the Accounting Profession"

Jason Stverak is the chief advocacy officer of the Defense Credit Union Council.