(In many cases, mortgage loans originated by a lender are bundled together and then sold to secondary lenders like Fannie Mae, Freddie Mac or other institutional mortgage fund providers).
"Investors are willing to put real money on the table toward refinancing borrowers from bad mortgages into good mortgages," said Micah S. Green, a partner based in Washington at the law firm Patton Boggs, who represents a consortium of institutional mortgage holders.
Conning, which has $20 billion of assets, manages money for insurers and provides private equity, institutional research and mortgage loan services to financial services companies.
Research Studiess connections between financial markets and the macroeconomy, including how institutional features of mortgage markets can amplify the effects of interest rate movements on debt, house prices, and economic activity.
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January 7, 2009 "Though much is said about the financial institutional crisis and the mortgage and housing crises, little, if anything at all, is mentioned about the imbalance in the economic landscape caused by war.
What's more, it is facing pressure from large institutional owners of troubled mortgages, including the Federal Reserve Bank of New York, Pimco and BlackRock, to buy tens of billions in bad loans back from them.
In recent years, Lend Lease, which manages $31 billion in real estate and mortgages for institutional and private clients, has acquired several office buildings in Manhattan, including the Equitable Tower at 787 Seventh Avenue; 1515 Broadway in Times Square; and 500 Park Avenue, at 59th Street.
Mr. Crandall said that a lot of the selling pressure was also coming from institutional investors that own mortgages and usually buy Treasuries to help hedge their positions against a drop in interest rates that would set off more mortgage refinancings.
He analyzes mortgage bonds for institutional investors.
