Share Prices of Several Top-Ranked Lenders Are in the Tank, Which Bodes Poorly for the Mortgage IPO Market
May 5, 2016
When it comes to stock price performance, it’s been an ugly year so far in 2016 for most of the nation’s publicly traded nonbanks, especially if their names happen to be Nationstar Mortgage, Ocwen Financial, PHH Corp. and Walter Investment Management Corp. And you might as well throw Stonegate Mortgage into that club as well. According to figures compiled by Inside Mortgage Finance, these five firms have seen declines in their stock prices – as measured against their highs for the past year – ranging from 52.3 percent (Nationstar) to 82.1 percent (Ocwen). Two other nonbanks whose share prices haven’t suffered as much are...[Includes one data table]
At press time, MFA's shares were up slightly on the day to $10.32 a unit. Its 52-week low is $9.36, its high $13.45.
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