There were few signs that investors were concerned about any potential Federal Reserve announcements following its meeting on Wednesday. That is because the stock market had a bullish bent on Tuesday with 15 of the 17 Mortgage Industry Equity Composite stocks closing higher.
The only two to close lower than they did
Ellie Mae closed 5.29% higher, followed by Radian, up 3.01%, Fidelity National Financial, up 2.9%, and MGIC Investment Corp., up 2.31%.
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.
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.
