While the agency transaction is an arbitrage of sorts, the private-label securitization serves as the process by which loans are directly distributed into the capital markets.
- CHAPTER 2: Overview of the Mortgage-Backed Securities Market
- from Mortgage-Backed Securities: Products, Structuring, and Analytical Techniques, 2nd Edition
- Publisher: John Wiley & Sons
- Released: September 2011
No idea what they mean by arbitrage of agency transactions.
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