Mortgage stocks sink with HW 30
Ellie Mae stands out, rises after acquiring MortgageCEO
The HW 30 – HousingWire’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.