Chilling originations reports and the death of one nascent takeover combined to give mortgage banking stocks a depressed week.

Most dramatic was Express America's announcement Wednesday that it would no longer pursue a sale of the company. The news sent the Arizona-based mortgage bank's stock hurtling downward by $3.50, to $6.75, a loss of 34%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.