Mortgage REITs: Going Once, Going Twice...Gone?

August 8, 2008

Mortgage REITs, a dividend paying equity vehicle that expanded with the mortgage industry in the past 10 years, have been facing a severe liquidity crises. The fallout that began with the subprime crises is spilling over to other types of mortgages, particularly the Alt-A mortgage. A virus-like illness has been spreading across sectors of the mortgage industry and has crippled several residential mortgage REITs. Can this mean the mortgage REIT is no longer viable? This week a large public REIT, American Home Mortgage (AHM) filed for bankruptcy and others may not be far behind.

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