- Facebook Files for Initial Public Stock Offering
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(MCT)—Facebook has filed papers for what’s expected to be the largest initial public offering ever to come out of Silicon Valley and one of the largest in U.S. history.Ending months of breathless speculation, the 8-year-old social networking company has submitted registration documents with the U.S. Securities and Exchange Commission that set a preliminary goal of raising $5 billion. Facebook is expected to be valued at $75 billion to $100 billion.
Final pricing will not be set for months, and the size of the IPO probably will increase with investor demand. The filing sets the stage for an IPO in May.
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Facebook Files for Initial Public Stock Offering
(MCT)—Facebook has filed papers for what’s expected to be the largest initial public offering ever to come out of Silicon Valley and one of the largest in U.S. history.
Ending months of breathless speculation, the 8-year-old social networking company has submitted registration documents with the U.S. Securities and Exchange Commission that set a preliminary goal of raising $5 billion. Facebook is expected to be valued at $75 billion to $100 billion.
Final pricing will not be set for months, and the size of the IPO probably will increase with investor demand. The filing sets the stage for an IPO in May.
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Mortgage Applications Down Nearly 3 Percent Last Week
Mortgage applications decreased 2.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 27, 2012.
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FHFA Responds to NPR Freddie Mac Refinance Story
A ProPublica–NPR news story recently suggested that a mortgage financing vehicle utilized by Freddie Mac may be preventing homeowners from refinancing. While FHFA does not typically comment on its supervisory activities, the circumstances here require some clarification, according to the FHFA, who issued the following response:
Freddie Mac has historically used the structuring of Collateralized Mortgage Obligations (CMOs) as a tool to manage its retained portfolio and to address issues associated with security performance. A particular CMO structure employed by Freddie Mac resulted in the creation of “inverse floaters.”
