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(Reuters) - Investors fueling an initial public offering bonanza are snubbing many U.S. mortgage providers’ stock market debuts over concerns that the sector might have reached its peak.
FILE PHOTO: A banner celebrating Rocket Companies Inc., the parent company of U.S. mortgage lender Quicken Loans, IPO is seen on the front facade of the New York Stock Exchange (NYSE) in New York City, U.S., August 6, 2020. REUTERS/Brendan McDermid/File Photo
Five mortgage vendors have scaled back or canceled plans to go public in the last four months, as investors flinched at their frothy valuations. This may bode poorly for IPOs by other home loan providers such as Better.com and NewRez.
Analysis: Mortgage vendor IPO woes reflect U S housing market peak reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.