Mortgage Stocks Drop More Than Dow


All 17 members of the Mortgage Industry Equity Composite closed lower on Wednesday compared with the previous day as the Dow Jones Industrial Average plummeted 139 points.

On a percentage basis, all 17 lost more ground than the DJIA did.

Of the four largest decliners percentage-wise, threeEllie Mae, Fiserv and Radianreported their results after the market closed on Tuesday or on Wednesday morning. MGIC Investment Corp., the second largest loser on the day, reported its results on Tuesday.

The best of the worst was PHH, down 1.33%.

Non-MIEC member and MGIC/Radian competitor Genworth also reported earnings on Wednesday and its stock price rose 2.39%.

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