Meanwhile, Fitch Ratings has downgraded the preferred stock rating of Freddie Mac from AA-minus to A-plus and removed it from Rating Watch Negative in the wake of Freddie's recent preferred stock offering.Fitch noted that it had placed the preferred stock rating on Rating Watch Negative in November, indicating that a downgrade was likely "if the amount of hybrid securities relative to total capital became more significant, resulting in higher loss absorption for preferred shareholders." The government-sponsored enterprise recently announced the pricing of $6 billion of fixed- to floating-rate, nonconvertible, noncumulative perpetual preferred stock, and the offering closed on Dec. 4.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
11h ago -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6 -
Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
May 6