PSEC (still a good buy at current price), CVRR (price heading to $30, and then may suffer profit taking, so about $28 and less a buy), PBKEF (a speculative buy under $10, but undervalued enough to be targeted for buyout or takeover). All three pay high yields, so cap gains are just extra.
Saw a note from you briefly, that disappeared, about comparing AGNC/MTGE management to WMC.
WMC has performed as well or better in its short life, but its short life makes any attempted comparisons unreliable. AGNC has performed well for years, and thus offers proven management. However, I do not like AGNC, because its portfolio is restricted to only agency backed mortgages, and they have been in a profit squeese, while MTGE was started up to provide the flexibility to buy commerial, non-agency backed mortgage instruments, but MTGE's trading price last week move up to where it may be on the high side; whereas WMC, although trading at about BV, has an obviously higher yield.
Bloomberg reports that the 30 bond has lost about 5% equity vaue so far this yaer as long rates have moved higher. Expect the same is approximately true for 30 year fixed mortgages. Therefore, BV for the MREITs will have also been dropping, although hedging will have moderated the drop in BV.
While the resulting profit spread will increase for new purchases of mortgage portfolios (the Fed has kept the short term borrowing rate close to zero), the immediate impact is lowered BV. To be safe, I have moved out of all MREITs for the time being.