This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Invesco Mortgage Capital's Management Presents At The Barclays Global Financial Services Conference - Special Call Transcript

In non-agency, again, really on the credit side I think the one thing we try to stress both in non-agencies and in CMBS is just having a high quality portfolio. In the non-agency sector, we’re about 70% senior re-REMIC with the remainder a mixture of seasoned prime and Alt-A, but those are also top of the capital structure. I think we have one subprime bond that makes up that 0.4%. But anyway, again, nice prepay history here. Obviously when bonds are at a discount, our prepay speed will be faster and we’ve seen pretty good voluntary prepay. I think in terms of the prepayments you see here, they’ve been in kind of the mid-teens. Really, that’s been about half and half between recoveries and actual volunteer prepayments, so that’s been a very good story for that sector. And the one thing I’ll also highlight is just how much this sector has rallied over the past couple years. You can see it in the yields – I mean, we were at 7.25 just a year ago and now we’re at 5.37, and there’s two things going on there. One is obviously your selection, so if you’re in more senior REMICs that’s going to be lower because they just have lower spreads; but really, I mean, it’s been a pretty tremendous rally across the board in the non-agency space.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs