Secondary

Armour Residential REIT hopes to sell 40 million additional shares of stock in a deal that could raise an additional $305 million, at least.

CYS Investments Inc. priced a public offering of 40 millions shares of its common stock at $13.70 per share to generate proceeds for investment in agency residential mortgage-backed securities.

In a request for a protective order filed with the U.S. District Court for the Central District of California NCUA claims the depositions of the three senior NCUA officials should be barred.

Even though there were continued declines in mortgage interest rates to new record-low levels, total loan application volume continued to fall, this time by 2.1% on a seasonally adjusted basis for the week ended July 6.

If there is anything all players in the reverse mortgage lending arena agree upon—trade group, regulator and consumer advocate—is the need for more education about this product, especially if it starts getting the market share that has been long predicted.

CitiMortgage, a top 10 ranked correspondent buyer of mortgages, has an “exclusionary” list of lenders that it will no longer conduct business with.

If you’re wondering why there haven’t been more jumbo MBS deals this year just look at the math. Wells Fargo, for instance, has an average cost of funds of 50 basis points.

First Tennessee Bank, Memphis, ended June with $2.7 billion of warehouse lending commitments on its books, an all-time high for the bank.

Recent delays in key secondary market regulations are among hurdles holding back the long-awaited return of the jumbo market, which some say is making some progress, but others think is too constricted by the current limits of secondary market outlets to reach a large scale.

Even before the government-controlled Ally Financial threw its mortgage division into Chapter 11 bankruptcy protection, rumors were circulating this spring that the “bank” end of the company would exit the warehouse lending arena.