A Mortgage REIT Looks for More CDOs

Freed, Dan
December 2005
Investment Dealers' Digest;12/19/2005, Vol. 71 Issue 48, p26
Trade Publication
The article presents an interview with Clarence Simmons, CFO of Thornburg Mortgage Asset Corp. Simmons said that the wave of refinancing mortgage loans is over. Looking at the share that refinancing has had of the total mortgage market, if it drops by 20-25%, it will lead to lower origination of mortgages. Simmons said that the major share of the wholesale mortgage market is owned by big companies such as Countrywide Financial, Wells Fargo, Citigroup and JPMorgan Chase & Co. Simmons said that collateralized debt obligation financing is a more permanent type of financing.


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