Volume 2014 - Number 48
December 19, 2014
REITs that Focused on Residential MBS See Promise in Commercial MBS Market
Two real estate investment trusts that have focused their efforts on residential MBS recently announced plans to enter the commercial MBS market. The moves come as issuance of residential MBS has been subdued since the financial crisis while issuance of commercial MBS activity has been soaring in recent years. PennyMac Financial Services announced this month that it formed PennyMac Commercial Real Estate Finance. The business will focus on loans that finance multifamily and other commercial real estate with a typical value of under $10 million. PennyMac said it plans for its REIT, PennyMac Mortgage Investment Trust, to acquire and securitize the commercial mortgages. “The opportunity in this market is...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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