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The new litUSD is being issued on Ethereum and backed one-to-one with the dollar using cash and cash equivalents being held by LitFinancial in reserve.
September 12
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The opening trades were at $11 higher than what Figure priced the initial public offering, and in early action, the stock has ranged from $32 to $37 per share.
September 11
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The company valued its 31.5 million share common stock sale at $25 per share, higher than the last announced expected range of between $20 and $22.
September 11
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Falling interest rates led to a rush in refinancing, but slowing purchase activity brought a decline in overall lock volumes, according to Optimal Blue.
September 10
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Besides upsizing the IPO, Figure's announced its technology is supporting Longbridge Financial's senior-specific home equity line of credit rollout.
September 9
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Premiums for property insurance have risen over 69% since 2019, far outpacing other components of the monthly mortgage payment, ICE Mortgage Technology found.
September 8
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As Washington weighs a national housing emergency, U.S. homeownership has slipped year-over-year, according to Redfin.
September 3
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Figure Technology files for a $508M IPO, while co-founder Mike Cagney secures long-term control and a retention award tied to the company's growth.
September 2
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The U.S. Mortgage Insurers put out a blog promising its members would be ready to accept submissions for coverage which were scored using VantageScore.
August 28
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The Federal Housing Administration is moving to the same standard for the new Uniform Residential Appraisal Report that the conforming market is adopting.
August 27
