Adding to a continuing wave of Wall Street efforts to counteract the U.S. mortgage-sparked liquidity crunch by tapping foreign capital, Merrill Lynch has reached agreements to issue $6.6 billion in mandatory convertible preferred stock in private placements to a new group of overseas investors. The long-term investors involved in the offering are primarily from the Korean Investment Corp., the Kuwait Investment Authority, and Mizuho Corporate Bank, Merrill said. Merrill Lynch can be found online at http://www.merrilllynch.com.
-
Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
51m ago -
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28