Between 2014 and 2018, Renovate America issued 13 PACE ABS, amassing a volume total of $2.83 billion. However, the company didn’t issue a single deal after May 2018...
According to figures compiled by Inside Mortgage Finance, SoFi sold roughly $1.9 billion of home mortgages to Fannie Mae in 2020, including $670 million in the fourth quarter alone.
Though the merger has not been explicitly canceled, Genworth said it will begin to pursue contingency measures, including a partial IPO of its mortgage insurance business.
Industry watchers believe mortgage servicers have a lot on their plate this year in terms of compliance with CARES Act forbearance, state-level relief guidance and limitations on foreclosures.
The regulatory language — years in the making and prompted by the growing market share of nonbank servicers — addresses capital, liquidity, stress testing and risk management among other things.
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