MFA Mortgage Investments Inc., New York, has priced a public offering of 7.5 million shares of common stock at $10.13 per share.The company said the proceeds are expected to be used for working capital and to buy additional adjustable-rate and hybrid mortgage-backed securities. MFA has granted the underwriters a 30-day option to buy up to 1.125 million additional shares of common stock to cover any overallotments. The lead manager of the transaction was UBS Investment Bank. MFA, a real estate investment trust, can be found online at http://www.mfa-reit.com.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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