MGIC Largest Gainer Among Mortgage Stocks

MGIC Investment Corp., which reported a loss of $387 million for 4Q12 on Thursday morning, was the biggest gainer among Mortgage Industry Equity Composite stocks that day, up 6.43%. Trading volume was 36.2 million shares, where the three-month average is at 4.9 million.

Investors may have been happy that those results reflected the financial pain of a settlement MGIC entered into with Freddie Mac and a prospective settlement with Countrywide/Bank of America.

And MGIC’s private mortgage insurance competitor Radian Group, which announced its equity and debt offerings had net proceeds of $690 million, was the second biggest gainer, up 4.26% from Wednesday’s close.

Ellie Mae rounded out the top three gainers, up 2.53%.

At the other end of the spectrum, the biggest percentage loss was recorded by KB Home, down 1.63%.

It was followed by PHH, down 1.55%, and OceanFirst Financial, down 1.48%.