Volume 2014 - Number 3
January 24, 2014
Credit Suisse Buys a Stake in MBS REIT Chimera, But Sectors Outlook is Cloudy
Credit Suisse recently filed notice with the Securities and Exchange Commission, stating that it now owns 5.4 percent of Chimera Investment Corp., a real estate investment trust whose forte is buying residential MBS. However, the investment comes at a time when a cloud is hanging over the REIT sector, especially MBS investing firms such as Chimera. Moreover, Chimeras stock has been stuck at about $3 a share the past 16 months, mostly because its still wading through earnings restatements and has not been a timely filer of quarterly and annual reports with the SEC. As the company noted in one regulatory filing: Our failure to be...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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