Municipal Mortgage & Equity, Baltimore, has agreed to sell 1.95 million shares of its common stock to RBC Capital Markets and Legg Mason Wood Walker.MuniMae did not disclose the price of the offering. The investor in multifamily debt and equity said it expects to use the net proceeds from the offering to fund future investments, to reduce debt, and for "general corporate purposes." The underwriters of the issue have been given the option to buy up to 195,000 additional shares to cover any overallotments. MuniMae can be found on the Web at http://www.munimaemidland.com.
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The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
56m ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
3h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
5h ago -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
11h ago -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16 -
In a motion to dismiss UWM's suit, Ramon Walker argues the trademark infringement claim made by UWM is a "pretext to muzzle [his] criticism."
April 16