Seeking Alpha (02/13/08)
Thanks largely to the Federal Reserve's recent interest-rate cuts, mortgage REITs (mREITs) have emerged as one of the hottest sectors in the market. American Capital Strategies (ACAS) is the latest to embrace the format, filing a $400 million IPO for a newly formed REIT focused on agency-guaranteed residential mortgage-backed securities (RMBS). At the same time, such existing agency mREITs as MFA Mortgage also are exploring new ground. MFA recently filed its own $250 million IPO for MFResidential Investments, Inc., which will focus on investing in investment-grade non-agency RMBS.
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