Lew said it’s not the right time to talk about ending the GSEs’ conservatorship and paying dividends.

Industry observers noted that FAQs didn’t answer some of the big questions that matter to lenders, such as quality control, student debt and pre-funding review requirements.

Fannie’s repurchase volume fell 45.8 percent from the previous quarter while Freddie’s was down just 1.3 percent.

The lender had $1.69 billion in mortgage originations in 2014, according to estimates by Inside Mortgage Finance.

Some industry participants are concerned that they’ll have to contend with new disclosure-related compliance overlays from secondary market investors.

Higher interest rates prompted declines in applications for both refinances and purchase mortgages.

The revised consent orders include limitations on the acquisition of mortgage servicing rights outside of the banks' own originations and limitations on outsourcing servicing functions.

“When someone tells you that the ATR rule is working, keep in mind it’s working because it actually stands on exemptions," said Rod Alba, senior regulatory counsel at the American Bankers Association.

Wells Fargo and JPMorgan Chase posted strong gains in first-lien holdings during the first quarter, and they were the biggest jumbo mortgage originators during that period.

The final rule approved by the FDIC requires escrows for flood insurance to be implemented on a “tripwire” approach.