The CHOICE Act also would make changes to the structure of the Consumer Financial Protection Bureau, including replacing the single directorship with a five-member board or commission.

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

To date, FCA/FHA settlements have netted the federal government roughly $5.0 billion.

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At Santander Bank, commitments improved by 2.1 percent to $2.4 billion while outstandings jumped 33.3 percent to $1.6 billion.

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

“Are there bargain hunters out there?” asked one servicing executive. “To some extent, yes.”

It’s not clear how many of the consumers with unauthorized accounts had mortgages with Wells, though the megabank and its peers have put an emphasis on cross-selling financial products to jumbo customers.

Despite shying away from FHA production, Wells Fargo remained a top Ginnie issuer, closing August with $3.83 billion and ranking third overall.