Entertainment Properties Trust, Kansas City, Mo., has priced a public offering of 5.4 million shares of series C cumulative convertible preferred shares at a liquidation preference of $25 per share.The real estate investment trust said the underwriters have been granted an option to buy up to 600,000 additional shares to cover any overallotments. The REIT said the shares will be convertible into the company's common stock at any time, subject to certain conditions, at an initial conversion rate of 0.3504 common shares per $25 liquidation preference, which is equivalent to an initial conversion price of approximately $71.34 per share. Bear, Stearns & Co. is the sole book-running manager of the offering. The REIT can be found online at http://www.eprkc.com.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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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.
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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.
April 17