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.

The REIT bounced back after losses in the previous two quarters.

“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.

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

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.

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."

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