Friedman Billings

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Mortgage REIT Insider: Walking the Plank

Nov 21, 2008By

One of these days, I’ll be able to write a positive column about the mortgage REIT sector. Today, however, is not one of those days. This week was one of the ugliest yet for the mortgage finance companies, with vicious selling spurred on by potential bankruptcy at mall REIT giant General Growth Properties [stock GGP][/stock] and the news that two major commercial loans near default are sinking newly-minted CMBS JPMorgan Chase Commercial Mortgage Securities Trust 2008-C2. With that, let’s take a look at which mortgage REITs are in danger of walking the plank this week.