PHH Stock Still Hurt by Servicing Sale

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PHHs common stock price lost 2% on Tuesday, the day after the company said it was selling flow mortgage servicing rights.

But the big loser among Mortgage Industry Equity Composite stocks on a percentage basis was KB Home, down 2.22%. Fidelity National Financial was down 1.73%. Ellie Mae continued its decline following last weeks results announcement, losing 1.62%.

Only four of the 17 MIEC stocks closed higher. MGIC Investment Corp. was up 2.59%, while Radian Group gained 1.09%.

The other gainers were Home Loan Servicing Solutions, up 0.43%, and Bank of Hawaii, up 0.07%.

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