Mortgage Stock Investors Apparently Not Concerned Over Shutdown

Although the broader stock market closed lower on Monday over worries about a government shutdown, a majority of the stocks tracked by the Mortgage Industry Equity Composite actually ended the day higher than their Friday close.

Leading the way was Ellie Mae, up 4.51%. Dime Community was next among the 12 gainers, up 1.46%, and third was PHH, up 0.85%.

Redwood Trust had the largest percentage loss on the day at 1.89%, followed by OceanFirst Financial at 1.51%. Other stocks starting the week lower were Hudson City Bancorp, Bank of America and Fiserv.