Mortgage stocks got caught up in day three of a market slump on Wednesday. All but two Mortgage Industry Equity Composite members closed lower on the day.
The one gainer was Fiserv, up 0.17%, while Radian Group (which earlier in the day reported
Home Loan Servicing Solutions had the largest percentage loss among MIEC stocks, down 2.77%, followed by KB Home, down 1.97%, and MGIC Investment Corp., down 1.82%.
A day after
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
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.
