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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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