Oak Street Financial Services Inc., Carmel, Ind., has announced a filing with the Securities and Exchange Commission for an initial public offering of common stock.Oak Street Financial, the parent company of Oak Street Mortgage LLC, said it intends to qualify as a real estate investment trust for federal income tax purposes. The managing underwriter for the planned IPO is Friedman, Billings, Ramsey & Co. Oak Street Mortgage originates nonconforming, jumbo, and, conforming mortgage loans secured primarily by first liens on single-family residences.
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More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
7h ago -
Seller-impersonation attempts more than doubled in two years, with artificial intelligence providing fraudsters new tools to commit crimes, a report said.
8h ago -
Homebuyers who are preapproved have the best opportunity to take advantage of fall discounts, giving lenders an opportunity to roll out marketing around this.
9h ago -
Bank of America upped its forecast for non-qualified mortgage issuance, with investors, particularly insurers, buying these and other non-agency securities.
11h ago -
NAF Insurance customers save $719 on average, Phil Miller, senior vice president of strategic partnerships at New American said.
September 14 -
Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.
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