Even though the Dow Jones Industrial Average gained nearly 136 points on Wednesday, there were more losers than winners (nine to eight) among Mortgage Industry Equity Composite stocks.
And among the biggest losers were the private mortgage insurance stocks which
PennyMac Mortgage Investment Trust led the gainers on the day, up 2.66%; ironically, PennyMac had the largest loss among MIEC stocks on Tuesday. Next was KB Home, up 2.41%, and Fiserv, up 1.07%.
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.
