A quote from Bloomberg:
"The minutes of the December 11-12, 2012 FOMC meeting showed heavy debate about quantitative easing. On the economy, participants saw the economy growing about as previously expected although jobs growth was a little better. However, various members were concerned about monitoring quantitative easing. Some saw QE4 as complicating the Fed's exit strategy from extremely loose monetary policy. FOMC participants indicated that some of the quantitative easing programs should end before the close of 2013. This could mean the end of Treasury purchases or mortgage-backed securities sooner than believed if this view takes hold. It was noted that additional asset purchases could create difficulties. The worry is that inflation and/or inflation expectations could rise."
An expectation that the Fed will stop RMBS purchases (and the market distortions that resort) by the end of 2013 is likely to support the prices of all mREITs since it would steepen the yield curve for such investments. However, the risk then moves to the short end of the curve. Non-Agency RMBS are now, and will continue to be a better investment than Agency RMBS, so CIM is the place to be.
Now, if we could just get the printer working and issue financial reports.........