Redwood Trust fared best among industry stocks with an almost negligible loss in value far less than 1%. Mortgage insurer Radian experienced a similar and only slightly larger loss in value. The largest MIEC decline was less than 4%. The Dow lost less than 1% on the day.
A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth about $43, according to this publicationís MortgageStats subsidiary. The indexís general trend has been stable to slightly higher this year, but it has been slightly lower the past two days.