On a day when the Dow Jones Industrial Average fell 370 points, or 2.93%, mortgage-related stocks were among the hard hit sectors. Among 15 industry stocks routinely tracked by MortgageWire, the hardest hit were IndyMac Bancorp, down 18% on the day to close at $8.50, Triad Guaranty, down 9% to close at $6.60, and Countrywide Financial Corp., also down 9% to close at $6.60. On Feb. 5, 13 of the 15 industry stocks in the Mortgage Equity Composite Index were down. The exceptions were Fidelity National Financial, which was up 3% to close at $20.23, and Franklin Bank Corp., which was up 1% to close at $4.94. At midday, the Dow was up nearly 100 points.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6 -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6 -
Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
May 6