Commercial mortgage-backed securities, a once $400 billion market that went down to virtually nothing, is on it's way back, one hedge fund pro believes.
"As with many things, the underwriting standards, the ratings agency standards, got out of control—it got way too loose as we hit into '07," Jeffrey Kronthal, co-managing partner and co-CIO of the KLS Diversified Asset Management, a hedge fund that specializes in fixed income, told CNBC on Thursday.