Luminent Mortgage Capital Inc., a San Francisco-based real estate investment trust, has priced a public offering of 6 million shares of common stock at $10.25 per share.Luminent said it plans to use the proceeds to buy mortgage assets as part of its residential mortgage credit and spread strategies. The underwriters have been granted an option to buy up to 900,000 additional shares to cover any overallotments. UBS Investment Bank was the sole book-running manager of the offering. The REIT, which invests primarily in U.S. agency and other highly rated mortgage-backed securities, can be found online at http://www.luminentcapital.com.
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One in every 37 residential properties nationwide had a loan-to-value ratio of 125% or greater to begin the year, according to a new report.
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There's temporary leeway on formal compliance with replacement-cost value requirements in order to sort out insurer concerns with a recent re-emphasis on them.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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Test your knowledge of the biggest mortgage headlines of the week. No. 2 pencil not required!
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The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
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