Morgan Stanley Sees Expanding Mortgage Business

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008884-morgan-stanley-sees-expanding-mortgage-bu/

Morgan Stanley will expand its mortgage business in the United States, Europe and Asia through investment, acquisitions and by working with its U.S. brokerage network, the securities firm’s top fixed-income executive said Thursday.

The underwriting and trading of mortgage-backed securities has been one of the biggest drivers for Wall Street profit in recent years, fueled by low interest rates and a robust real estate market. Increasingly, investment banks are taking steps to expand their presence beyond the United States and originating more of their own loans to preserve profit margins.

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