Capital Lease Funding, New York, has filed a registration statement with the Securities and Exchange Commission for the initial public offering of 20 million shares of its common stock priced at between $9.00 and $11.00 per share.The company said it expects to be listed on the New York Stock Exchange and to qualify for real estate investment trust status. The current owners of Capital Lease Funding are company chairman Lewis S. Ranieri, who is widely regarded as the father of the mortgage-backed security; Hyperion Partners; an affiliate of Wachovia Bank; and Capital Lease management. The company said it plans to use the money raised to invest in net lease properties -- in the form of both debt and equity financings -- leased to "high credit quality" tenants. The initial funding for the investments will be through short-term financing, after which the company plans to tap the secured long-term debt market, mostly through collateralized debt obligations.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
9h ago -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
9h ago -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
10h ago -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
11h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25