Non-Agency MBS Investors Expect Secondary Market Will Recover, With Changes, When Home Prices Stabilize
June 27, 2008
The biggest impediment to a resurgence of the non-agency MBS market may be the ongoing decline in housing prices. Investors at the Securities Industry and Financial Markets Association’s MBS due diligence conference this week in New York suggested that they could return to a revamped secondary market within a year if the housing market stabilizes. Joe Swartz, chairman of SIFMA’s MBS due...