As Bank of America soared Thursday on chatter of a mass-refinancing plan, mortgage REITs slid on...

|By:, SA News Editor

As Bank of America soared Thursday on chatter of a mass-refinancing plan, mortgage REITs slid on worries of prepayments slashing returns on their holdings of MBS. The trend was reversed Friday after an administration official denied the rumors, but mREIT investors remain wary as NY Fed chief Dudley suggests intervention to reduce obstacles to refinancing. For now, many continue to offer double-digit dividends.