Mortgage Stocks Close Higher on Thursday

By Brad Finkelstein

Published April 04, 2013, 5:32 p.m. EDT

1 Min Read

All of the stocks in the Mortgage Industry Equity Composite, except for OceanFirst Financial and MGIC Investment Corp., finished Thursday’s trading ahead of their previous close. And the decline in OceanFirst was by a single penny per share.

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Ellie Mae was the best performer on the day, up 3.8%, followed by Radian, up 3.76%, even though it was revealed during the day that the company will have to pay $3.75 million to settle allegations over captive reinsurance arrangements.

MGIC Investment Corp., on the hook for $2.5 million in the same settlement, was unchanged.

Meanwhile, Fannie Mae and Freddie Mac both lost ground on the day, declining by $0.04 per share and $0.05 per share, respectively. Henry Paulson, the former Treasury secretary who placed the pair into government conservatorship, said their recent profitability should not deter an overhaul of the housing finance system.

Brad Finkelstein

Originations Editor

Brad Finkelstein is the originations editor of National Mortgage News. While he covers the entire process, Brad's specialty is loan production and... Read full bio

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