A once-sleepy corner of American housing finance is increasingly buying up mortgages, and it stands to grow further as the government’s role in the market shrinks.
Real-estate investment trusts that buy residential home loans increased their mortgage-bond portfolios by almost 28% to $308 billion over the 12 months through March.
It was the largest stockpile in a half-dozen years, according to an analysis of 15 REITs by industry research group Inside Mortgage Finance. Annaly Capital Management Inc. and AGNC Investment Corp.,...
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