Education Realty Trust Inc., a new Memphis-based company formed to own and manage student housing communities, has priced an initial public offering of 19 million shares of common stock at $16 per share.J.P. Morgan Securities Inc. and UBS Investment Bank were the joint book-running managers of the offering, the company said. The underwriters have been granted an option to buy up to 2.745 million additional shares to cover any overallotments. The shares of the new company are trading on the New York Stock Exchange under the symbol EDR. The company said it will elect to be taxed as a real estate investment trust.
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While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24