Dynex Capital Co-CEO Smriti Popenoe on Mortgage REITs, the Fed and Risk Management in Housing Finance
Ann Berry is joined by Dynex Capital Co-CEO Smriti Popenoe, who explains how mortgage REITs operate and how Dynex invests in agency mortgage-backed securities. Popenoe walks through the mechanics of leverage, interest-rate sensitivity and how those factors affect returns and dividends. They also discuss the Fed’s role in shaping financing costs, the function of Fannie Mae and Freddie Mac in the housing finance system and proposed limits on institutional ownership of residential real estate.
00:00 Dynex Capital Co-CEO Smriti Popenoe Joins
01:03 What Dynex Capital Does and How a Mortgage REIT…
The skinny
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