Just sifting through the earnings.
It looks good. Not quite as stellar as MTGE, but definitely good.
I would like to see a bit more non agency added. They are pretty lite on that.
It looks like they bought almost all agency on that last SPO.
They did get a HUGE unrealized gain on their MBS though, so maybe they are working things correctly right now on the agency side.
* Spread looks good at 2% considering their ratio of Agency vs Non Agency. That is dusting AGNC and NLY
* Book came in good at 21.76
* CPR at 4.1% on an annualized basis is great.
* $2.74 a share in unrealized gains on the portfolio. Looks good.
* Derivative instrument loss was high. I think this is because they hedged the wrong direction based on their last 10Q. Hopefully this will go away in the next quarter or two.