Stocks

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.