Here’s an interesting statistic presented to me by one investor eyeing the mortgage market: over the past 18 months, REITs have raised $26 billion in new equity. Almost all of it has been targeted toward MBS investments. Very little has been plowed into mortgage servicing rights.

This little factoid raises an interesting question: Where are all the nontraditional MSR buyers that were supposed to flood the market, causing a historic shift in the world of mortgage banking?

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.