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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The Office of the Comptroller of Currency said it will no longer include examinations for disparate impact liability but will still perform fair lending risk assessments on a regular basis.
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The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
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Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
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Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
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While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
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Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
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