Monday Morning Cup of Coffee: Spring turnaround, or spring-loaded trap?

Monday Morning Cup of Coffee: Spring turnaround, or spring-loaded trap?

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Lending / The Ticker

Mortgage stocks sink with HW 30

Ellie Mae stands out, rises after acquiring MortgageCEO

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The HW 30HousingWire’s exclusive list of mortgage finance stocks – sunk 0.27%, or 2.96 points, in Thursday trading, as several lending and servicing companies experienced disappointing declines.

Still, one overachiever – Ellie Mae – stood out.  Ellie Mae (ELLI) saw its stock shoot up 4.46% on news that it finalized its purchase of mortgage relationship management and marketing automation solutions provider MortgageCEO.

MortgageCEO’s technology is particularly helpful to originators who are looking for robust referral sources to help them generate purchase mortgage activity as refinancing activity declines.  

As Ellie Mae rose, some servicers and lenders experienced declines.

JPMorgan Chase (JPM) finished down 0.84%. PHH Corp. (PHH) declined 4.42%, while servicers Ocwen (OCN) and Walter Investment Management (WAC) fell 3.14% and 1.27%, respectively.

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