The nonbank also saw low servicing-related income due to a large loss tied to hedging.

Originations dropped to varying degrees during the year at all of the top 10 lenders.

“There was a surprisingly strong reading of core PCE inflation,” said Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.

Examples from various industries, including the mortgage market, helped to push the FTC to issue the final rule.

Rising interest rates helped to lift the value of the nonbank's MSRs.

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

Applications declined somewhat as interest rates increased.

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.

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."