Some stocks in this publicationís Mortgage Industry Equity Composite gained as much as almost 2% in value while others declined slightly on the day Wednesday.
PHH Corp. enjoyed the top gain among MIEC stocks. Thirteen MIEC companies gained in value on the day and four suffered very small percentage losses in value.
A $100 investment in MIEC stocks on Jan. 1, 1998 based on week-to-week gains as of Monday would be worth almost $44, according to this publicationís MortgageStats subsidiary. The indexís general trend has been stable to slightly higher this year.