UDR Inc., a real estate investment trust based in Richmond, Va., has priced a public offering of 5.4 million shares of 6.75% series G cumulative redeemable preferred stock at a liquidation preference of $25 per share.The net proceeds are expected to be used to fund the redemption of all outstanding shares of its 8.60% series B cumulative redeemable preferred stock, to repay debt under its $500 million credit facility, and for general corporate purposes, the company said. Wachovia Capital Markets LLC was the sole book-running manager of the offering. UDR, a multifamily REIT, can be found online at http://www.udr.com.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
9h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
10h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16