Secondary

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.

The uptick follows the pandemic-era trend of midmonth increases in active plans, according to Black Knight.

Despite that decline, the company notched its second-best quarterly earnings ever over that period.

The investments, part of a post-merger effort to wring out more profits, include new commercial and mortgage lending platforms.

The Biden administration could encourage the FHFA to increase the caps or restore exclusions for certain types of loans, which would boost overall volumes.

The company’s 4Q originations were down from the same time in 2019 and the number of overall loans for 2020 marked a decline from the year before.