FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

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Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google

RMBS investor Orchid Island decreases proposed IPO

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Orchid Island Capital, an investor in residential mortgage-backed securities, lowered its proposed deal size on its upcoming initial public offering. The Vero Beach, Fla.-based company now plans to raise $42 million by offering 5.2 million share for $8 each, according to Renaissance Capital. Orchid Island previously filed to offer 7.5 million at a range of $10 to $12. The firm is filing an IPO to switch to real estate investment trust status, which will allow for certain tax benefits, but limits the scope of investments. As a REIT, Orchid Island will focus its investments primarily on Fannie Mae, Freddie Mac and Ginnie Mae mortgage-backed securities, according to sources close to the deal. Orchid Island plans to list on the New York Stock Exchange under the symbol ORC. Barclays Capital and JMP Securities are the lead underwriters on the deal, expected to price in the week of July 25. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.

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