HLSS Stock Up Nearly 7% on Strong Results
Home Loan Servicing Solutions' common stock closed nearly 7% higher on Thursday after the company announced 4Q13 profits of $40 million.
The stock recovered most of the ground it lost after a report was published midday saying the New York Department of Financial Services was looking to block a servicing deal involving Ocwen, which HLSS was spun out from.
HLSS was the biggest percentage gainer on the Mortgage Industry Equity Composite. On Thursday, eight MIEC stocks closed higher, eight lower and MGIC Investment Trust was unchanged.
Fiserv had the biggest percentage loss among MIEC stocks, down nearly 2%. The company said it earned $221 million in 4Q13 after the market closed on Wednesday. This was up from $179 million one year prior but lower than what analysts had expected the company to report.