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American Capital Mortgage Investment Corp. Message Board

  • instantwinbutton instantwinbutton Jul 2, 2013 1:32 PM Flag

    Mtge non agency stake added to at record low prices for 2013

    Prices of non agency fell as much as 22 percent on some notes in June due to fears the federal reserve might withdraw stimulus hurting housings recovery. Mtge is believed to have added 340m of non agency paper according to a Rumor from a Thomas Reuters trading desk sometime around June 18 and 19 and again on the 27th.

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    • Today's book value estimate thought by traders at end of q2: Losses of 3.63 per share on agency and non agency assets. Book value of 20.62 as of June 28th.

    • Mtge was an also an "aggressive seller of agency mbs throughout May and June" and " that's probably where they got the capital to make some or their non agency purchases - from the deleveraged equity capital freed up from the agency sales"

    • IWB.. that is for certain sub prime mortgages.
      I don't see reits with subprimes for the most part.

      I quoted the important parts for you.
      In general non agency in a reit is still doing better since it isn't leveraged up.

      "Declines reached almost 22 percent in June among certain subprime-mortgage securities, according to a June 28 report by Bank of America Corp"

      "losses in 2013 for other non-agency securities are as high as 4 percent"

15.66May 24 4:00 PMEDT