The third quarter has yet to end and the big question for the industry boils down to this: Will 3Q be better than 2Q?

Among other things, Fannie found that for 3Q16, more lenders expect to sell their mortgages to the GSEs rather than keeping them in portfolio.

There is no clear explanation as to why VA rates are lower than the competition, but some industry participants, including Tom Piercy of Incenter Mortgage Advisors, speculate prepayments might be the reason.

One mortgage branch manager described the underwriter shortage as a “big time” problem.

Cash-flow underwriting for mortgages on investment properties also may present regulatory concerns…

Meanwhile, while the jumbo securitization rate during the quarter was a paltry 0.8 percent…

Meanwhile, many mortgage companies that specialize in production are posting strong profits…

Angel Oak also has a much smaller division, Angel Oak Prime Bridge, that originates nonprime mortgages for investment properties.

Thank you 'Brexit:' Some analysts now believe the industry will surpass 2015’s origination total of $1.735 trillion.

Tennessee Lender Agrees to $70 million Settlement to Resolve Alleged FHA Violations. Franklin American Mortgage of Franklin, TN, has agreed to pay the federal government $70 million to resolve allegations of failing to comply with FHA requirements. Specifically, the direct endorsement lender allegedly engaged in improper underwriting of FHA loans between Jan. 1, 2006, and Dec. 31, 2012, which later resulted in submission of claims and substantial losses to the FHA insurance fund. Franklin entered into a settlement agreement with the Department of Justice and the Department of Housing and Urban Development’s Inspector General. As part of the settlement, Franklin acknowledged “it engaged in certain conduct in connection with its origination, underwriting, and quality control of certain single-family residential mortgage loans insured by FHA.” The settlement was neither an admission of ...