New York

Secondary Markets Won’t Recover Until 2011, Insiders Say 

It’s a question that’s on the mind of more than a few mortgage market participants as of late: just when do the secondary mortgage markets get up off the mat? According to a recent survey mortgage market experts, it appears as if market sentiment is projecting an answer that may be longer than most of us might like. Industry insiders surveyed by New York and Dallas-based National Asset Direct Inc., a principal buyer of performing, sub-performing and non-performing residential assets, overwhelmingly suggested that secondary mortgage markets won’t recover until 2011.