GSC Partners, an investment adviser with offices in New York, London, Los Angeles, and Florham Park, N.J., has announced the formation of GSC Capital Corp., a real estate investment trust.The new REIT will invest in real-estate-related securities, whole-loan mortgages, bank loans, corporate loans, and other asset-backed securities, the company said, and will use structured financing techniques aimed at mitigating interest rate risks. Deutsche Bank Securities was the sole underwriter for the offering, which consisted of approximately $100 million of equity and $100 million of convertible debt. GSC Partners can be found online at http://www.gscpartners.com.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
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The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
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A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
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The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
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The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
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The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
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