American Home Mortgage Investment Corp., Melville, N.Y., has announced the sale of an additional 650,000 shares of series A cumulative redeemable preferred stock at $25 per share in a reopening of a public offering.After the closing of the sale, the outstanding shares of preferred stock will total 2.15 million, including 1.4 million shares from the original offering and the exercise of the underwriters' option to buy 100,000 additional shares to cover overallotments, the company said. Total proceeds are estimated at $53.75 million from the offering and the reopening. The underwriters have been also granted an option to buy up to 97,500 shares of preferred stock in connection with the reopening to cover any overallotments. Citigroup Global Markets Inc. acted as sole bookrunning and lead manager of the offering. American Home, a mortgage real estate investment trust, can be found online at http://www.americanhm.com.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
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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.
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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.
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