In today Daily Download Episode, HousingWire covers a report that states loan deposit is set to go public later this year.
To learn more about the history, here is a summary of item:
California-based mortgage lender led by Anthony Hsieh could be worth between $ 12 billion and $ 15 billion in an IPO, according to Bloombergthe sources.
The company has had discussions with potential underwriters for an IPO that could take place as early as the fourth quarter of this year.
The news comes right after Rocket Mortgage Successful IPO in August. Since debuting at $ 18 a share, Rocket stock has jumped more than 25%, and the nation’s largest mortgage lender now sports a market capitalization of approximately $ 47 billion.
“We’re the Lyft of their Uber,” Hsieh told Bloomberg. “The momentum in non-bank lending is here to stay. We are here to fuel the American Dream.
LoanDepot, backed by Parthenon Capital Partners, announced its intention to go public in September 2015, but canceled the IPO hours before pricing due to what the company called Unfavorable “market conditions”. At the time, LoanDepot was looking for a market value of $ 2.4-2.6 billion. In March 2017, the company relaunch plans for an IPO.
After the main story, HousingWire ddiscusses a report of Freddie mac this indicates that average mortgage rates for a 30-year fixed mortgage edged up to 2.87%, which remains the second lowest on record. The team also shares a Release of NAHB which indicates that the housing market index rose five points this month, the highest score in the series since its creation.
The Daily Download examines the most compelling articles reported by the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper insight into the stories shared in our newsroom that help Advance markets. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode: