Figure Technology Solutions priced its initial public offering Wednesday evening at $25 per share. This is $3 per share higher than the last expected price range of between $20 and $22. The first trade is expected to take place on Nasdaq on Thursday between late morning and early afternoon under the FIGR ticker symbol. While […]
Figure prices IPO above expected range Read More »
Evidence of homeowners’ desire to refinance at the first signs of falling mortgage rates appeared in August’s data as rate-and-term transactions hit a 2025 high. Rate-and-term locks accelerated 69.8% from the prior month, according to Optimal Blue’s Market Advantage report. Compared to August 2024, though, volumes finished 8.7% lower. Cash-out refinances also saw a monthly
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Figure Technology Solutions has increased its expected initial public offering in both size and price, an updated prospectus filed with the Securities and Exchange Commission said. The IPO will now consist of 31.5 million shares of its Class A stock, but nearly 4.9 million of those will come from current shareholders in the company. Figure
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The property insurance portion of the average mortgage payment keeps rising, and is now just shy of 10% of the average monthly expense, ICE Mortgage Technology said in its September Mortgage Monitor Report. Mortgage payments are broken down into two components — principal and interest, and taxes and insurance; the latter normally goes into the
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For the first time since 2016, the number of American households who are homeowners declined on an annual basis, in another signpost that high home prices and elevated interest rates are taking people out of the market, a Redfin study of U.S. Census data found. The study estimated about 86.2 million Americans own their home,
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Figure Technology Solutions has formally launched its long-awaited initial public offering that could bring over $508 million in gross proceeds to the company if the overallotment is exercised. The company is offering over 21.46 million shares, with an overallotment of 3.95 million shares. In addition, 4.85 million shares are being sold by existing stockholders in
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The U.S. Mortgage Insurers repeated its commitment for members to work with the Federal Housing Finance Agency to implement VantageScore 4.0. In an Aug. 27 blog post, the group said it welcomed FHFA Director Bill Pulte’s announcement permitting Fannie Mae and Freddie Mac to accept loans using the VantageScore 4.0 algorithm and its members will
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The Federal Housing Administration, which receives the largest share of mortgage applications among the government guarantors, is adopting the UAD 3.6 appraisal format going into place in the conforming market. The new UAD 3.6 Uniform Residential Appraisal Report is replacing traditional boilerplate forms which are currently being used, such as the Fannie Mae 1004. But
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Mortgage application volume declined for the second week in a row, as a small rise in rates put a damper on refinance activity, the Mortgage Bankers Association said. The Market Composite Index decreased by 1.4% on a seasonally adjusted basis for the period ended Aug. 15. The refinance component was down by 3%, although versus
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New American Funding announced the launch of an insurance affiliate, which will offer homeownership coverage, alongside a range of other protections. In a deal with insurance distribution firm The Baldwin Group, New American will sell primary property coverage in addition to products to guard homeowners against flood and wind damage. The affiliate, named NAF Insurance
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