An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

Investments

Black Monday hits housing, mortgage finance worse than Dow, Nasdaq

Update: Housing stocks making up some ground, most still in red

[Updated at 1:40 p.m. ET, see Update 1 below]

The Black Monday market collapse is hitting the stocks that drive the housing and mortgage finance economy worse than the major indices in early trading.

The HW 30 — HousingWire’s proprietary list of major players in the space — was down 4.75% as of 10:09 a.m. ET.

That compares to the Dow, down 3.12%, and the Nasdaq, down 4.72% at the same time.

The Street was expecting volatility today — the New York Stock Exchange invoked Rule 48 in an effort to speed up and smooth trading at the market open. The 2007 rule means that designated market makers will not have to disseminate price indications before the bell, making it easier and faster to open stocks.

Ellie Mae (ELLI) was the biggest loser in morning trading, down 10.6%.

But it wasn’t alone. First American Corp. (FAF) was down almost 6%, while Walter Investment Management (WAC) was pushing down close to 7%. Two Harbors Investment (TWO) was also pushing down to close to 7.7%.

Here’s a snapshot of where things stood 10:15 a.m. ET.

Click to enlarge

(Source: HousingWire)

[Update 1 at 1:40 p.m. ET]

The HW 30, like the other indices has made up some of the ground lost in morning trading. The HW 30 stands down about 1.89%.

Ellie Mae is only down 2.93%, while FAF is down just 1.72%, and Walter is back in positive territory by 1.56%.

Here's a snapshot of where it stands now.

Click to enlarge

(Source: HousingWire)

Click here for a live feed.

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

Latest Articles

CFPB orders ‘Big Tech’ to turn over payment system plans

The Consumer Financial Protection Bureau issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data.

Oct 21, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please