Capstead Mortgage Corp., a Dallas-based real estate investment trust, has priced a public offering of 8 million shares of common stock at $10.73 per share.The company said the net proceeds of the offering will be used to finance the purchase of additional adjustable-rate mortgage agency securities and for general corporate purposes. Bear, Stearns & Co., Keefe, Bruyette & Woods Inc., and JMP Securities LLC are the joint book-running managers of the offering. The underwriters have been granted an option to buy up to an additional 1.2 million shares to cover any overallotments. The REIT can be found online at http://www.capstead.com.
-
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
3h ago -
The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.
5h ago -
One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
5h ago -
There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
6h ago -
Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
8h ago -
Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
May 10