Fannie Mae has priced a $200 million offering of 5.5% fixed-rate, noncumulative preferred stock.The 4 million shares of Series N stock have a stated value of $50 per share, the government-sponsored enterprise said. Goldman, Sachs & Co. (the bookrunner) and Bear, Stearns & Co. served as co-lead manager for the issue. The co-managers were FTN Financial Capital Markets, Loop Capital Markets, Sandler O'Neill & Partners LP, Vining-Sparks IBG LP, and Wachovia Securities. Fannie Mae can be found online at http://www.fanniemae.com.
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Christopher J. Gallo, formerly of NJ Lenders Corp., generated billions of dollars in loan volume over a five-year stretch that prosecutors scrutinized.
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The Wall Street Journal reported federal whistleblower allegations exist, citing unnamed sources and viewed documents, but the firm said it has seen no proof.
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The homebuilder's net income for the second quarter was half of what it was a year ago but a seasonal lift improved results relative to the first quarter.
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Fintech GoodLeap is buying homeowner relationships for renovation loans with rewards and originators competing on rate alone may be behind.
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The mortgage technology unit of Intercontinental Exchange reported a return to profitability in the second quarter, as revenues continued their recent rise.
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The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.
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