American Residential Properties and PennyMac Financial Services, which both focus on residential mortgages, set terms for their initial public offerings.

PennyMac plans to raise $200 million by offering 11.1 million shares at a price range of $17 to $19. 

The company plans to list on the New York Stock Exchange under the symbol PFSI.

The joint bookrunners on the deal include Citigroup (C), Bank of America Merrill Lynch (BAC), Credit Suisse (CS) and Goldman Sachs (GS).

Additionally, American Residential Properties plans to raise $301 million by offering 13.7 million shares at a price range of $21 to $23. 

The company plans to list on the New York Stock Exchange under the symbol ARPI.

The joing bookrunners include Morgan Stanley (MS), BofAML, FBR Capital Markets and Jefferies.