It has been a mixed bag for mortgage-related stocks on Thursday morning, as the Dow Jones Industrial Average slid another 85 points, on top of a decline of 280 points on Wednesday.
The biggest losers on Wednesday were the bank stocks, with JP Morgan Chase, down $1.48; Citigroup, down $1.50; and Wells Fargo, down $1.43. While Citi has held its own on Thursday morning, off by $0.01 at 11:25, Chase was down $0.56 and Wells off by $0.19.
Bank of America was down $0.51 on Wednesday and down another $0.06 on Thursday. B of A, Wells and Citi were all cited by Moody's for a possible ratings downgrade.
Flagstar was barely affected, down just $0.03 on Wednesday and the same on Thursday morning. Mortgage tech provider Ellie Mae was also off by $0.03 on Wednesday and unchanged the next morning.
MGIC, cited by the Department of Housing and Urban Development as the target of a fair lending proceeding Wednesday, dropped $0.35 for that day and was down $0.02 the next morning.
Its competitor, Radian, was off by $0.43 on Wednesday and $0.03 Thursday, while PMI was down $0.08 on Wednesday and up $0.02 the next day.
Genworth, off by $0.48 on Wednesday, regained $0.21 on Thursday. Old Republic International, down $0.39 Wednesday, was off by $0.01 late the next morning.
As for the title insurers, First American fell by $0.63 in Wednesday's selloff and another $0.16 the next morning. Fidelity National Financial was the only stock that was doing worse on Thursday morning than the previous day. It was down $0.14 on Wednesday and $0.16 Thursday morning.
Stewart fell by $0.39 on Wednesday but was up $0.03 Thursday morning.
