Stocks

And how people involved with Replay Acquisition made it more attractive than an initial public offering, according to CEO Patricia Cook.

If the underwriters' option is exercised, proceeds will bring in $112 million instead of a possible $176 million.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

The company expects to get between $17 and $19 per share.

But current owner Blackstone and FOA management will keep 70% of the company after its merger with a SPAC.

Earnings increased by 81% year-over-year as its gain-on-sale margins grew nearly 2.5 times.

Two more lenders, AmeriHome and Caliber, look to join Rocket and United Wholesale Mortgage, by raising capital through public stock offerings.

China Oceanwide said it was not able to meet with Hony Capital to finalize the terms and conditions because of the pandemic.

Called it a better all-around process for United Wholesale Mortgage to become a publicly traded company.

Wholesale's technological capabilities and its scalability have been increasingly attractive to lenders given the recent surge in volume.

The potential acquirers included a "go shop" provision as a sweetener in the rejected offer.

Mortgage rates fell 7 basis points this week to yet another record low in the 49-year history of the Freddie Mac Primary Mortgage Market Survey, as stock market indicators sank during the period.

Nearly half of the second-quarter volume came from its existing customers.

Neither side opted to invoke their Aug. 31 termination rights and the deal is set to close by the end of September.

Cannae and Senator said they are looking to stop CoreLogic from unilaterally cancelling a vote on changing the members of its board.

Blackstone Group, which led Wall Street's initial foray into the single-family rental business, is making a new investment in suburban houses at a time when the COVID-19 pandemic is pressuring traditional commercial real estate.

Most of the proceeds will be used to deal with debt maturities, with the rest held by the MI unit's parent.

Its stock price, which slid since day two of trading, opened 10% on the earnings news.

The company's Dun & Bradstreet investment reduced its results by $31 million.

Even though revenues beat analysts' estimates, Zillow lost $84 million in the second quarter, with its mortgage business losing $240,000.