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.
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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 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
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