Fidelity Closes Lower Even Though LPS Deal Moves Forward

The Dow Jones Industrial Average was up for the third consecutive trading session on Monday, this time by nearly 89 points. The investor enthusiasm carried over into real estate finance-related stocks, as the Mortgage Industry Equity Composite had 10 stocks close higher than they did on Friday, one with no change and six lower.

Among the stocks closing lower was Fidelity National Financial, down 0.58% even though its acquisition of Lender Processing Services cleared another hurdle as the go-shop period ended without a competing offer.

But the stocks with the largest percentage decline were PHH, down 3.23%; KB Home, down 2.16%; and OceanFirst Financial, down 1.13%.

Home Loan Servicing Solutions had the largest percentage gain, 2.67%; followed by Radian, 2.44%; and Bank of America, 1.68%.