Redwood Trust Gains Almost 5% on Friday
Redwood Trust, which sold $424 million of mortgage-backed securities at spreads of 190 basis points, was the big gainer among mortgage stocks on Friday.
Its stock was up 4.89% over Thursday’s close. PHH was up 3.97%, while Radian Group was up 3.17%.
There were only two Mortgage Industry Equity Composite index stocks that closed down: Ellie Mae, 3.76%, and Home Loan Servicing Solutions, 2.07%.
Meanwhile, both Fannie Mae and Freddie Mac continue to see their stock prices above the $1 mark, up 6.3% and 5.83% today, repectively.