IndyMac Bancorp Inc., Pasadena, Calif., has priced an offering of 3.2 million shares of common stock at $31.75 per share.The gross proceeds of the offering totaled $101.6 million, IndyMac said. The company has granted the underwriters a 30-day option to buy up to 480,000 additional shares to cover any overallotments. Lehman Brothers was the sole book-running manager of the offering, and Morgan Stanley acted as co-manager. IndyMac can be found online at http://www.indymacbank.com.
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Loandepot is arguing that its local rival, West Capital Lending, has no standing to sue it over the statute meant to protect consumers from predatory lending.
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Christopher Peterson, a law professor at the University of Utah and former senior advisors at the Consumer Financial Protection Bureau, is the latest top hire for a Democratic state stepping up consumer protection.
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U.S. District Judge James Robart found the complaint lacked statutory standing for a RESPA claim and the plaintiffs failed to identify any deceptive conduct.
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The sale comes several months after private equity firm Hale Capital Partners acquired the financially troubled company formerly known as Voxtur Analytics.
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Meanwhile, MISMO has updated its guide to incorporate the updated scores for use with mortgage insurers and VantageScore Solutions rolls out a new model, 5.0.
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The real estate investment trust struggled with legacy assets and its bottom line, but sees a path forward with non-QM, third-party originations and AI.
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