The civil monetary penalties resulting from the administrative actions were roughly $26.4 million.

Applications declined somewhat as interest rates increased.

Mr. Cooper Group, the largest nonbank GSE servicer and second-largest GSE servicer overall, increased its portfolio by 8.6% during the first quarter.

The Mortgage Bankers Association raised concerns about the new requirements.

"It’s hard to see how a charge that is clearly disclosed to the borrower before they enter into the transaction ... and only charged once at closing can be said to unreasonably take advantage of consumers," said Peter Idziak, a senior associate at the law firm of Polunsky Beitel Green.

Achieve Home Loans is expected to close a $170.1 million HELOC MBS later this month.

Economists at Fannie increased their projections for originations, citing "our more optimistic home price growth expectation and somewhat lower mortgage rate path, along with an upgraded expectation for home sales."

The first-quarter slump was largely confined to bulk sales of Fannie and Freddie mortgage servicing rights.

Sam Valverde, the principal executive vice president at Ginnie, will serve as acting president following McCargo’s departure.

Sam Khater, chief economist at Freddie Mac, described the issue as “urgent, but manageable,” an opinion shared by others at the conference hosted by Americatalyst.