MortgageIT Files for IPO

March 23, 2004, 3:00 p.m. EST 1 Min Read

MortgageIT Holdings Inc., New York, has filed a registration statement with the Securities and Exchange Commission for an initial public offering.MortgageIT Holdings will be the parent company of MortgageIT Inc., a New York-based mortgage banker. The units of MortgageIT include IPI Skyscraper (retail), MIT Lending (wholesale/correspondent), and MortgageIT.com. MIT Lending recently opened a subprime division, New Beginnings. MortgageIT Holdings expects to elect to take real estate investment trust status. A pair of residential lenders converting to public ownership are also taking the same route --New York Mortgage Corp., and HomeBanc Mortgage Corp., Atlanta.

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