Secondary

For a surprising number of companies pursuing an IPO is a mistake, Endurance Advisory Partners CEO Stephen Curry says.

While it is looking for a higher price per share, the company will be selling fewer shares on its own behalf.

Investor concerns about a 25 basis point reduction taking business from private insurers might be overblown, but a 50 bp cut could affect an additional 10%-15% of the low down payment market, KBW said.

At least 25 properties that Columbia Sussex Corp. has financed with loans packaged into commercial-mortgage backed securities are in special servicing or on servicer watch lists.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

If new housing policy initiatives are not adopted by Congress, the Biden Administration may seek to push the GSEs into receivership, which would damage the conventional market, columnist and analyst Chris Whalen says.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.

United Wholesale Mortgage is the third nonbank lender to complete the process of going public since the wave of announcements started last year.

The former president and CEO of GE Capital’s restructuring and strategic ventures group was named executive vice president and chief risk officer soon after the departure of Fannie EVP Andrew Bon Salle.