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.

The face-saving mechanism in the CFPB's announcement was a claim to the discovery of a legal glitch.

VantageScore suggested that lending to "upsiders" and "minimalists" can be accomplished without increasing default risk.

The FOMC said it will increase rates when it sees further improvement in the labor market and inflation looks to be under control.

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.

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.

Potential borrowers have misperceptions about requirements for credit scores, downpayments and income, according to results from a survey by Wells Fargo and Ipsos Public Affairs.