MGIC Investment Corp.’s report of
Its volume of shares traded was three times normal, topping out at over 32 million and making it the most traded MIEC stock except for Bank of America.
And MGIC’s good news helped industry competitor Radian Group to a 4.14% gain from
Meanwhile, Ellie Mae lost 1.78% while Home Loan Servicing Solutions was down 1.52%. Overall, 11 of the 17 MIEC members closed higher.
Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
