Deerfield Triarc Capital Corp., Chicago, has priced an initial public offering of 25 million shares of common stock at $16 per share.The offering includes approximately 680,000 shares being sold by existing stockholders. Credit Suisse First Boston, Merrill Lynch & Co., UBS Investment Bank, and Deutsche Bank Securities were the joint book-running managers of the offering, the company said. The underwriters have been granted an option to buy up to 3.75 million additional shares to cover any overallotments. The shares of the new company are trading on the New York Stock Exchange under the symbol "DFR." The company said it will elect to be taxed as a real estate investment trust. It invests in real-estate-related securities and various alternative investments, such as collateralized debt obligations, consumer asset-backed securities, and corporate mezzanine loans.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25