Aames Investment Corp., Los Angeles, has priced a public offering of 35 million shares of common stock at $8.50 per share and agreed to sell 5 million additional shares at the same price in a private placement.The gross proceeds from the public offering will be $297.5 million. The private placement, which provides for certain discounts, is expected to result in aggregate proceeds of $39.5 million, Aames said. The private placement was made with Friedman, Billings, Ramsey Group Inc. The sole book-running manager of the public offering is Friedman, Billings, Ramsey & Co. Inc. Aames, a mortgage real estate investment trust, can be found on the Web at http://www.aames.net.
-
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
1h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
1h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
6h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
8h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
11h ago -
While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
April 23