Mortgage Firm Sells $500 Million in Stock
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Thornburg said the sale would help the company resume making loans and buying mortgage-backed securities.
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YESTERDAY Close $60.07 Change -$3.18 52-WEEK High $71.92 Low $54.97 Freddie Mac, the nation's number two buyer and backer of home mortgages, set aside more than $300 million in the second quarter to account for bad loans, contributing to a 45 percent drop in profit.
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Fannie Mae FNM.N, the embattled U.S.  home funding company, on Wednesday said it agreed to sell $5  billion worth of non-cumulative preferred stock in two  placements to certain institutional buyers in an effort to meet  higher capitalization standards.
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The discount broker posts a loss as mortgage-related losses mount.
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Single-family home builder M/I Homes Inc.  said on Monday it has sold some Florida land to reduce debt, and is exiting the West Palm Beach market in that state, sending shares up 3 percent in early trading.
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Countrywide Financial Corp  posted a $1.2 billion third-quarter loss on Friday, but its shares soared after the largest U.S. mortgage lender said it expects to be profitable in the fourth quarter and in 2008, and has weathered the worst of the housing downturn.
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Fannie Mae , the embattled U.S. home financing company, on Wednesday said it agreed to sell &#36;5 billion in preferred stock to institutional buyers as part of an effort to comply with regulatory demands to increase capital.
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Joe Robert watched his real estate investment firm's stock tumble to five-year lows this month as Wall Street punished any company linked to the mortgage mess. But where others panicked, Robert saw opportunity. From Aug. 9 to 16, he scooped up about $8 million worth of his firm's shares. They have...
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Thornburg Mortgage Inc  said on Thursday it raised $500 million by selling convertible preferred stock, a move that will boost funding and allow it to resume making new loans after getting hit by a credit squeeze.
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Fidelity Investments, one of the last prominent downtown Boston-based companies, is negotiating to buy the former FleetBoston Financial Corp. headquarters building at 100 Federal St. for at least $500 million, according to real estate executives briefed about the deal.
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Global credit squeeze undermining private sector sale of mortgage lender
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NEW YORK -- Throughout 2006, T. Rowe Price analyst Susan Troll watched in horror as one risky mortgage deal after another hit the market. She became alarmed by a widening trend: mortgage lenders issuing home loans of poor quality that were then packaged and sold by Wall Street investment banks to...
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Swiss Life Holding on Friday said it agreed to sell most of its private-equity portfolio, valued at 400 million Swiss francs ($321.2 million), to an affiliate of a U.S. investment firm.
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Share prices for a recently spun-off part of Arlington mortgage banker Friedman, Billings, Ramsey Group rose nearly 6 percent yesterday, the firm's debut as a public company.
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Bank of America Corp  on Friday said it agreed to acquire struggling mortgage lender Countrywide Financial Corp  for about $4 billion in stock, a move that could help avert one of the biggest collapses in the U.S. housing crisis.
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Stock jumps despite revelation of $5.5B mortgage-related writedowns.
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Sallie Mae  said on Wednesday it plans to sell about $2.5 billion of stock and mandatory convertible securities to help pay off derivatives contracts that amounted to a bet that its share price would keep increasing.