Financial stocks ended its late Wednesday’s trade elevated, with the NYSE Financial Sector Index rising less than 0.1% and the S&P Financial 100 Index up about 0.1%.
Despite financial sector soared, following financial companies, Life Partners Holdings, (LPHI), Arlington Asset Investment (AI), Walter Investment Administration (WAC), Ocwen Financial (OCN), Senior Housing Properties Trust (SNH), declined.
Bottom Decliner: Life Partners Holdings, Inc (NASDAQ:LPHI) dipped -9.23%, and closed at $0.200, during the last trading session, soon after Life Partners declared recently that on February 2, 2015, the organization received a letter from the Nasdaq Listing Qualifications department notifying the company that the minimum bid price per share for its ordinary stock was below $1.00 for a period of 30 successive business days and that the company did not meet the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1).
Life Partners Holdings, (LPHI) through its partner, Life Partners, Inc., operates in the secondary market for life insurance worldwide. It facilitates the sale of life settlements between sellers and purchasers, but does not take possession or control of the policies.
Arlington Asset Investment Corp (NYSE:AI) declined -7.90%, and closed at $24.83, following the news that an investment firm, declared that its Board of Directors has designated Anthony P. Nader to serve as a new independent director of the Company, whose term will start March 1, 2015. Mr. Nader will stand for election at the Company’s next annual meeting. Mr. Nader’s appointment brings the number of the Company’s directors to eight.
Arlington Asset Investment (AI) an investment firm attains mortgage-related and other assets. The company attains on a leveraged basis residential mortgage-backed securities (MBS) that are issued by the United States (U.S.) government agency, or guaranteed as to principal and interest by U.S. government agencies, or U.S. government-sponsored entities.
Walter Investment Administration Corp (NYSE:WAC) dropped -7.51%, and closed at $16.39, as Walter Investment responded to the FHFA’s projected minimum financial eligibility requirements for Fannie Mae and Freddie Mac Seller/Servicers which were released January 30, 2015.
Walter Investment Administration (WAC) together with its subsidiaries provides business services to the residential mortgage industry in the United States. The organization operates through six segments: Servicing, Originations, Reverse Mortgage, Asset Receivables Administration, Insurance, and Loans and Residuals.
Ocwen Financial Corp (NYSE:OCN) plunged -4.34%, and closed at $6.61. The total number of shares changed hands during the day was 7.4 million. After opening at $6.83, the stock hit as high as $7.00. However, it traded between $5.66 and $43.73 over the last twelve months.
Ocwen Financial Corp (NYSE:OCN), through its subsidiaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally.
Senior Housing Properties Trust (NYSE:SNH) dipped -3.13%, and closed at $22.57, after a real estate investment trust, declared that the underwriters of its public offering have exercised, in full, their option to buy an additional 4,050,000 ordinary shares. The sale of the additional ordinary shares and the sale of the original public offering of 27,000,000 ordinary shares are predictable to close on Monday, February 9, 2015.
Senior Housing Properties Trust (SNH) a real estate investment trust (REIT), primarily invests in senior housing properties in the United States. The trust invests in hospitals, nursing homes, senior apartments, independent living properties, and assisted living properties.
