PHH Corp. had the largest percentage loss among Mortgage Industry Equity Composite stocks on Monday. The company said it is selling the mortgage servicing rights from at least 50% of its newly originated loans to Matrix Financial Services Corp.
PHH closed 1.28% lower, followed by Fidelity National Financial, down 0.75%, and Bank of Hawaii, down 0.43%.
Meanwhile, 11 MIEC stocks closed higher, led by KB Home, up 1.69%. Radian was up 1.52% and CoreLogic was up 1.23%.