Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit
Housing Wire
OCTOBER 23, 2020
Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5 million shares of Class A stock, priced between $17 and $19. It would have raised approximately $153 million.
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