IPOs

Mortgage brokers are telling the company that they "are looking for another large source," according to President and CEO Willie Newman.

The merger with Capitol Investment V values the title insurer at $3 billion.

Rocket Cos. fell premarket, halting a three-day rally driven by sentiment that the home-loan provider was the latest retail-trader favorite for its high short interest.

The offering went down to $14 from an anticipated $19 to $21 per share.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

This is the third nonbank mortgage company offering in a row to decrease its size, but the reductions were more severe than the others.

For a surprising number of companies pursuing an IPO is a mistake, Endurance Advisory Partners CEO Stephen Curry says.

While it is looking for a higher price per share, the company will be selling fewer shares on its own behalf.

The mortgage lender will promote its brand, products and services through MLB-related television or radio ads, in addition to digital outlets.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.