Banking, finance, and taxes
AmeriHome, Another Mortgage Firm, Decides to Come Public
Published:
AmeriHome has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering. No pricing details were mentioned in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company has yet to say on what exchange it plans to list its shares or even what ticker it plans to use.
The underwriters for the offering are Apollo Global Securities, Barclays, BofA Securities, Credit Suisse, Goldman Sachs, Houlihan Lokey, JPMorgan, RBC Capital Markets, Siebert Williams Shank and Wells Fargo.
This firm is a U.S. residential mortgage producer and servicer focused on driving profitable growth across market environments. It was founded in 2013 and designed to optimize operational and financial excellence, instilling a business strategy and culture management refers to as the “AmeriHome Way.”
AmeriHome has created a flexible and scalable platform with a modern purpose-built infrastructure, advanced data and analytics capabilities, all leveraging its management team’s collective experience to achieve what it believes is a highly efficient cost structure to target profitability in all market environments. This has led to strong growth and performance, evidenced by 21 consecutive quarters of profitability while growing its production volume 187.4% from 2015 to the second quarter of 2020, positioning it as the third largest correspondent producer.
The company has expanded its production volume from $18.7 billion in 2015 to $53.7 billion for the 12 months ended June 30, 2020, and its servicing portfolio from $18.9 billion to $87.9 billion.
In terms of its finances, total net revenues came in at $418.7 million at the end of 2019, an increase from $325.4 million in 2018. At the same time, net income was $174.5 million and $105.0 million, respectively.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes
24/7 Wall St.Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
