As Triad Guaranty's stock price dropped by 10% to 72 cents per share after Friday's meteoric rise, other mortgage insurance companies saw their stock prices record substantial gains at the close of trading on Monday. Walnut Creek, Calif.-based PMI Group Inc.'s stock went up a whopping 42% to $1.08 per share. MGIC Investment Corp., Milwaukee, ended the day with a stock price of $3.88, up 25% from the day's opening trade. Richmond, Va.-based Genworth Financial's share price went up 14.75% to $2.80 per share. Radian's stock went up 10% to $2.20. The Dow closed at 8426.74 on Monday, up more than 214 points from the day's opening.
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House Democrats on the Financial Services Committee said the more than 400-page Community Reinvestment Act proposal warrants more time for review, given its sweeping implications for community development and bank lending.
September 25 -
As tech firms increasingly rely on debt to build out their artificial intelligence buildouts, long-dated U.S. Treasuries are facing heightened competition.
September 25 -
A judge found United Wholesale Mortgage did not break the law in its handling of the retirement plan, which ex-workers say cost them a collective $1.8 million.
September 25 -
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
September 25 -
New enhancements in business purpose lending by lenders and vendors could help originators looking for new business as conforming rates keep rising.
September 25 -
The compressed timeline could address a key challenge mortgage companies face when considering changing vendors.
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