U.S. housing quagmire embodied in JPMorgan deal
Drop in the ocean
The bank looks set to sell its first mortgage bond without government backing in years. That hints at a belief in such products among both lenders and investors. But until mortgage finance rules are clarified and Frannie’s funding advantage is withdrawn, these deals will be rare.
This content is for Subscribers only
To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.