CoreLogic, Ellie Mae Lead Mortgage Stocks on Wednesday

Tech stocks CoreLogic and Ellie Mae were the only two members of the Mortgage Industry Equity Composite which had a higher close on Wednesday. The Dow Jones Industrial Average slipped below 15,000, losing 127 points.

CoreLogic was up 0.84% and Ellie Mae gained 0.08%.

MGIC Investment Corp. lost 2.10% from its Tuesday close. Furthermore, its trading volume−the stock has been the most traded among MIEC members other than Bank of America in recent months−was behind soon-to-be acquired Hudson City Bancorps. There were 8.6 million shares of Hudson City traded compared with 6.6 million from MGIC.

PennyMac lost 2.08% on the day, while Home Loan Servicing Solutions lost 1.83%. Fidelity National Financial, in the midst of its own deal to acquire Lender Processing Services, lost 1.32%.

Article source: http://www.nationalmortgagenews.com/dailybriefing/CoreLogic-Ellie-Mae-Lead-Mortgage-Stocks-1036919-1.html

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