HCP Inc., a real estate investment trust based in Long Beach, Calif., has announced the pricing of a public offering of 13 million shares of common stock at $33.50 per share. The REIT, which invests primarily in health-care-related real estate, said the proceeds of approximately $435 million will be used to repay debt under its bridge loan facility. The underwriters have been given an option to buy up to 1.95 million additional share to cover any overallotments.
Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.
The Federal Housing Finance Agency's annual report to Congress asks for enforcement and referral powers beyond the limited ones it currently has.
The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
The deal offers a series of exchangeable, class A and B notes, which will pay coupons ranging from 6.00% on the A1 tranche to 5.00% on the A33 tranche.
This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
