The stocks of the Mortgage Industry Equity Composite benefitted from the continuing stock market rally on Tuesday, as all but three posted increases from their close last Friday.
Ellie Mae was the big loser on the day, down 4.13%, even though the stock is still trading towards the upper end of its 52-week range. The other stocks in the red, according to information from Yahoo Finance, were Home Loan Servicing Solutions and Redwood Trust.
On the other hand, the big winner on the day, private mortgage insurer Radian Group, closed up 7.82%. The price per share of $6.62 set a 52-week high by $0.10. Competitor MGIC was up by 6.41%. The MI business has been in the news in the last week as
The third biggest gainer, KB Home, was up 3.01% on news it has formed a
By the way, the publicly traded parents of two of the other three MIs had a good day as well. Genworth finished Tuesday up 2.95%. AIG, the parent of United Guaranty, was up 2.34%. Both are not part of the MIEC.
