PHH Leads Mortgage Stock Price Gainers
PHH Corp. led all gainers on the Mortgage Industry Equity Composite on Wednesday with a near 5% increase in its stock price. Bank of America, which was the third large bank to report results in the last two days, gained 2.3%.
There were 13 of the 17 MIEC members reporting a higher closing price compared with Tuesday.
Both Radian Group and MGIC Investment Corp. set new 52-week highs during the trading day. Radian was up 1.6% and MGIC gained 1.5%.
Ellie Mae’s stock price lost 1.5%. Other MIEC members reporting a decline were KB Home, Fiserv and Home Loan Servicing Solutions.