Amidst a letter making you want to decamp to the bomb shelter, Kyle Bass renews his bullish call...

|By:, SA News Editor

Amidst a letter making you want to decamp to the bomb shelter, Kyle Bass renews his bullish call on housing, specifically non-agency MBS. The refinancing boom has not spread to Alt-A and Subprime loans, and rates remain high while credit trends sharply improve - a sweet situation for owners of the paper. Mortgage REITs with non-agency exposure include: NCT, IVR, MFA, EFC, CIM, DX.