Genworth Financial, Richmond, Va., has reported the pricing of General Electric's secondary public offering of 38 million class A shares of Genworth's common stock at $34.66 per share.Genworth, whose mortgage insurance subsidiary is headquartered in Raleigh, N.C., said GE would own approximately 18% of Genworth's common stock if the underwriter's overallotment option to buy up to 2.85 million additional shares is exercised. (The sole underwriter of the offering is Morgan Stanley & Co.) Genworth said it will not receive any proceeds from the transaction. The company noted that GE has indicated its intention to sell its remaining holdings in Genworth by the end of next year. Genworth can be found online at http://www.genworth.com.
-
Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
7h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
7h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
7h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
10h ago -
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.
April 25 -
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.
April 25