Ellie Mae and Lenders Processing Services were the only mortgage-related stocks bucking the negative trend on Wall St. Thursday morning, as the Dow Jones Industrial Average, once down 235 points on the day, was still off 156 at 1 p.m.
A weaker than expected jobs report is being blamed for the sell-off. The poor new home sales report also is considered a contributing factor.
Ellie Mae is up $0.17 or 3%, while LPS is up $0.12 or 0.6% for the day so far.
Once again it is the banks leading the way down, as JPMorgan Chase is down $0.84, Citi down $0.81 and Wells Fargo down $0.65. Other big losers among mortgage-related stocks include MGIC, $0.36 and its competitor in the mortgage insurance business, Genworth, off $0.37.
CoreLogic was down $0.38, while PennyMac and First American were down $0.30 each.
