Radian Group’s stock price was down 8.6% on Thursday, after the mortgage insurer reported a $13 million loss for 3Q13. Investors also did not like comments made about the mortgage insurance business by CEO S.A. Ibrahim during a conference call.
The news from Radian also affected competitor MGIC Investment Corp., which had the next largest decline among Mortgage Industry Equity Composite stocks, down 6.4%.
PennyMac Mortgage Investment Trust stock price lost 3.5% even though the company reported a profit of $40 million for the quarter.
PHH, which reported a net loss of $52 million, saw its stock price decline by 3.37%.
Redwood Trust was one of the two MIEC stocks to report a gain, closing up 2.3% after reporting a $22 million profit. The other MIEC stock in the green was OceanFirst Financial.
Among industry stocks not in the MIEC which also reported earnings,
