Analysts Blast Notion of Government-Led Refi Wave of GSE MBS to Reduce Borrower Payments
August 6, 2010
Speculation over aggressive government refinancing of the entire agency mortgage market ignited intense debate among Wall Street analysts last week and, possibly, may have put mortgage-backed securities investors on edge. It all began when economists at Morgan Stanley sent out an item July 29 entitled “Slam-Dunk Stimulus,” in which they argued for...