Optimistic investors drove the stock market up over 300 points in Thursday trading on the hopes that a deal is coming soon to end the shutdown. That optimism led all 17 Mortgage Industry Equity Composite stocks to close higher than they did
The leader is MGIC Investment Corp., up 5.52%, while Radian Group ranked No. 3, up 3.05%. Both stocks benefitted from the news that the second de novo private mortgage insurer,
Ellie Mae is Thursday’s laggard stock, up a mere 0.06%.
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.
A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.
Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
