CoreLogic: Foreclosures down more than 25% since August 2014

CoreLogic: Foreclosures down more than 25% since August 2014

Foreclosure pipeline of legacy loans remains elevated

Here’s how TRID is changing the mortgage industry

Up and down the pipeline things are changing

Monday Morning Cup of Coffee: Is Fed, housing policy at a crossroads?

Plus why private investors don’t want to buy mortgages, TRID and more

Prospect Mortgage rumored to file for IPO

Bloomberg reports confidential plan placed weeks ago

/ Print / Reprints /
| Share More
/ Text Size+

According to Bloomberg, Prospect Mortgage is going public.

"Prospect Mortgage announced today that on Nov. 8 it confidentially submitted a draft registration statement for IPO of common stock," according to Bloomberg journalists Jody Shenn and Christopher DeReza in an email. "Offering expected to commence after SEC completes review process; subject to market conditions, according to e-mailed statement from Sherman Oaks, Calif.-based company."

Prospect Mortgage is an independent mortgage company, backed by Sterling Partners, a private equity firm with approximately $5 billion in assets.

The Chief Operating Officer of Prospect, Amy Brandt, is named in this year's HousingWire Women of Influence.

In an interview with HousingWire in July, Brandt explained the logic behind the expansion of the company, at that time, into correspondent lending.

"With a nationwide footprint, direct lending and substantial portfolio of owned MSR, Prospect is in a fantastic position to continue its growth into other segments of the industry," Brandt said. "The most logical expansion was into correspondent lending, where we believe we can add tremendous value in terms of service, price and stability to our client-partners. This is why we launched our correspondent division in March and are looking forward to significant expansion. We will continue to look for opportunities for growth and value creation."

Recent Articles by Jacob Gaffney

Comments powered by Disqus