RAIT Investment Trust, Philadelphia, has priced an offering of 2.0 million shares of common stock at $22.75 per share.The real estate investment trust estimated that its net proceeds will total $43.4 million, which will be used to repay debt, originate loans, and acquire loans and property interests. The co-managers of the offering were U.S. Bancorp Piper Jaffray Inc. and Stifel, Nicolaus & Co. The REIT can be found on the Web at http://www.raitinvestmenttrust.com.
Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
The Aspire business reported $2.1 billion of lock volume, up 32% from the first quarter, but total production at the REIT fell to $8 billion from $8.5 billion.
