Economy

The offering went down to $14 from an anticipated $19 to $21 per share.

The agreement would generate $250 million in proceeds, which the nonbank mortgage company plans to use to pay down and refinance existing debt, while also investing in its servicing and origination businesses.

Volumes should rise this year but it could become more difficult to get loans for certain property types, the Mortgage Bankers Association said.

Meanwhile at Essent, more loans exited the inventory in January than in December.

2020’s mortgage employment numbers proved to be slightly higher than previously estimated when reconciled with the Bureau of Labor Statistics’ annual business census.

The acquiring company does business under the name Excelerate Capital and will extend that name to Castle in order to expand its footprint.

The uptick marks only the third increase in consecutive weeks since reaching a peak in May, according to Black Knight.

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This is the third nonbank mortgage company offering in a row to decrease its size, but the reductions were more severe than the others.

The Long Island resort towns saw 803 completed deals in the fourth quarter, the most for any three-month period in data going back to early 2005.

The mortgage lender will promote its brand, products and services through MLB-related television or radio ads, in addition to digital outlets.

The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.

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

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.

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

In a request for information, the agency sought feedback on how it should prioritize climate risks as part of its supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

Pricing parity is a big hit with lenders, but the MBA questions retaining certain limits on what Fannie and Freddie can purchase.

The FHFA and Treasury will allow Fannie Mae and Freddie Mac to hold more capital as part of the Trump administration's plans to release the companies from conservatorship. But it is unclear whether the incoming Biden administration will keep the mortgage giants on the same reform path.

The transaction finances the loan portion of a $989.5 million acquisition of warehouse and distribution properties located in nine states.