Hudson City Bancorp’s stock declined 3.53% on Thursday on news that its proposed acquisition by M&T Bank Corp. is still on hold pending resolution of a regulatory matter.
Other members of the Mortgage Industry Equity Composite closing lower on the day include MGIC Investment Corp., down 1.56%, CoreLogic, down 1.38%, and Radian, down 0.41%.
KB Home is the leading gainer, up 5.17%.
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.
In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.
Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
