Apollo Commercial Real Estate Finance has priced a secondary offering of 10 million shares of common stock at $17 per share.
Apollo, based in New York, will use the offering proceeds to repay amounts outstanding with JPMorgan Chase Bank, with any remainders going towards the acquisition of commercial real estate loans, commercial mortgage-backed securities, and other real estate related interest-accruing assets.
The offering will close March 10.
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
