Investments

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

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.

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

The firm will invest in loans in health care, real estate, equipment and transportation, as well as corporate sectors backed by contractual cash flows, according to a statement Tuesday.

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

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

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

With refinance volumes predicted to fall — but currently continuing apace — lenders explain how they’re readying themselves for eventual contraction and its implications for their expenditures.

A portion of the proceeds from the offering, announced days following its IPO filing, will go toward the repayment of its mortgage servicing facility.