Gramercy Capital Corp., a New York-based investor in and originator of commercial mortgage-related loans and securities, has priced a public offering of 2.25 million shares of common stock.Net proceeds totaled approximately $60 million, Gramercy said. The company also reported that it is selling 750,000 shares to its affiliate SL Green Realty Corp. for net proceeds of about $20 million. Wachovia Securities was the sole book-running manager for the public offering, and was granted an option to buy up to 337,500 additional shares to cover any overallotments. Gramercy Capital can be found online at http://www.gramercycapitalcorp.com.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
4h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
5h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
8h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
9h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16