Introduction to Mortgages and Mortgage Backed Securities Book

Introduction to Mortgages and Mortgage Backed Securities


  • Author : Richard K. Green
  • Publisher : Academic Press
  • Release Date : 2013-11-21
  • Genre: Business & Economics
  • Pages : 256
  • ISBN 10 : 9780124045934

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Introduction to Mortgages and Mortgage Backed Securities Excerpt :

In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making

Salomon Smith Barney Guide to Mortgage Backed and Asset Backed Securities Book
Score: 1
From 1 Ratings

Salomon Smith Barney Guide to Mortgage Backed and Asset Backed Securities


  • Author : Lakhbir Hayre
  • Publisher : John Wiley & Sons
  • Release Date : 2002-11-11
  • Genre: Business & Economics
  • Pages : 888
  • ISBN 10 : 9780471196907

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Salomon Smith Barney Guide to Mortgage Backed and Asset Backed Securities Excerpt :

Mortgage-backed and asset-backed securities are fixed-income securities, like bonds, which derive their return from an underlying mortgage or basket of mortgages, or an asset or basket of assets. This market has increased from about $100 billion in 1980 to over $2.5 trillion today. Filling the void for a new book on fixed-income, Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provides a coherent and comprehensive approach to the subject. Featuring material used by the company, this book is an ideal training tool and resource for investment professionals, institutional investors, pension fund investors, and hedge-fund investors. Lakhbir Hayre (New York, NY) is a mortgage officer at Salomon Smith Barney, and their leading expert on mortgage-backed and asset-backed securities. He is a Certified Financial Analyst and a Doctor of Philosophy.

Mortgage Backed Securities Book
Score: 1
From 1 Ratings

Mortgage Backed Securities


  • Author : Frank J. Fabozzi
  • Publisher : John Wiley & Sons
  • Release Date : 2010-12-30
  • Genre: Business & Economics
  • Pages : 336
  • ISBN 10 : 1118044711

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Mortgage Backed Securities Excerpt :

An in-depth look at the latest innovations in mortgage-backed securities The largest sector of the fixed-income market is the mortgage market. Understanding this market is critical for portfolio managers, as well as issuers who must be familiar with how these securities are structured. Mortgage-Backed Securities is a timely guide to the investment characteristics, creation, and analysis of residential real estate-backed securities. Each chapter contains cutting-edge information for investors, traders, and other professionals involved in this market, including discussions of structuring mortgage products-such as agency CMOs and new types of mortgages-and an in-depth explanation of the concept of option-adjusted spreads and other analytical concepts used to assess relative value.

The Big Short  Inside the Doomsday Machine  movie tie in  Book
Score: 4
From 105 Ratings

The Big Short Inside the Doomsday Machine movie tie in


  • Author : Michael Lewis
  • Publisher : W. W. Norton & Company
  • Release Date : 2015-11-16
  • Genre: Business & Economics
  • Pages : 320
  • ISBN 10 : 9780393353167

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The Big Short Inside the Doomsday Machine movie tie in Excerpt :

The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

The Handbook of Mortgage Backed Securities  7th Edition Book

The Handbook of Mortgage Backed Securities 7th Edition


  • Author : Frank J. Fabozzi
  • Publisher : Oxford University Press
  • Release Date : 2016-08-11
  • Genre: Business & Economics
  • Pages : 864
  • ISBN 10 : 9780191088773

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The Handbook of Mortgage Backed Securities 7th Edition Excerpt :

This edition of The Handbook of Mortgage-Backed Securities, the first revision following the subprime mortgage crisis, is designed to provide not only the fundamentals of these securities and the investment characteristics that make them attractive to a broad range of investors, but also extensive coverage on the state-of-the-art strategies for capitalizing on the opportunities in this market. The book is intended for both the individual investor and the professional manager. The volume includes contributions from a wide range of experts most of whom have been actively involved in the evolution of the mortgage-backed securities market.

Introduction to Securitization Book

Introduction to Securitization


  • Author : Frank J. Fabozzi
  • Publisher : John Wiley & Sons
  • Release Date : 2008-06-06
  • Genre: Business & Economics
  • Pages : 384
  • ISBN 10 : 9780470419571

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Introduction to Securitization Excerpt :

Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction with practitioners and graduate students around the world. The authors offer coverage of such key topics as: structuring agency MBS deals and nonagency deals, credit enhancements and sizing, using interest rate derivatives in securitization transactions, asset classes securitized, operational risk factors, implications for financial markets, and applying securitization technology to CDOs. Finally, in the appendices, the authors provide an essential introduction to credit derivatives, an explanation of the methodology for the valuation of MBS/ABS, and the estimation of interest rate risk. Securitization is a financial technique that pools assets together and, in effect, turns them into a tradable security. The end result of a securitization transaction is that a corporation can obtain proceeds by selling assets and not borrowing funds. In real life, many securitization structures are quite complex and enigmatic for practitioners, investors, and finance students. Typically, books detailing this topic are either too lengthy, too technical, or too superficial in their presentation. Introduction to Securitization is the first to offer essential information on this topic at a fundamental, yet comprehensive level-providing readers with a working understanding of what has become one of today's most important areas of finance. Authors Frank Fabozzi and Vinod Kothari, internationally recognized experts in the field, clearly define securitization, contrast it with corporate finance, and explain its advantages. They carefully illustrate the structuring of asset-backed securities (ABS) transactions, including agency mortgage-backed securities (MBS) d

Introduction to Securitization Book

Introduction to Securitization


  • Author : Frank J. Fabozzi
  • Publisher : John Wiley & Sons
  • Release Date : 2008-07-15
  • Genre: Business & Economics
  • Pages : 384
  • ISBN 10 : 9780470371909

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Introduction to Securitization Excerpt :

Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction with practitioners and graduate students around the world. The authors offer coverage of such key topics as: structuring agency MBS deals and nonagency deals, credit enhancements and sizing, using interest rate derivatives in securitization transactions, asset classes securitized, operational risk factors, implications for financial markets, and applying securitization technology to CDOs. Finally, in the appendices, the authors provide an essential introduction to credit derivatives, an explanation of the methodology for the valuation of MBS/ABS, and the estimation of interest rate risk. Securitization is a financial technique that pools assets together and, in effect, turns them into a tradable security. The end result of a securitization transaction is that a corporation can obtain proceeds by selling assets and not borrowing funds. In real life, many securitization structures are quite complex and enigmatic for practitioners, investors, and finance students. Typically, books detailing this topic are either too lengthy, too technical, or too superficial in their presentation. Introduction to Securitization is the first to offer essential information on this topic at a fundamental, yet comprehensive level-providing readers with a working understanding of what has become one of today's most important areas of finance. Authors Frank Fabozzi and Vinod Kothari, internationally recognized experts in the field, clearly define securitization, contrast it with corporate finance, and explain its advantages. They carefully illustrate the structuring of asset-backed securities (ABS) transactions, including agency mortgage-backed securities (MBS) d

The Handbook of Mortgage backed Securities Book

The Handbook of Mortgage backed Securities


  • Author : Frank J. Fabozzi
  • Publisher : McGraw-Hill Companies
  • Release Date : 2001
  • Genre: Business & Economics
  • Pages : 877
  • ISBN 10 : 007135946X

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The Handbook of Mortgage backed Securities Excerpt :

The Definitive Book on Mortgage-Backed Securities--Now Revised and Updated "The Handbook of Mortgage-Backed Securities "is the classic-- and single best-- resource for understanding and trading mortgage-backed securities. All professionals in the MBS market-- from portfolio managers and traders to originators and consultants--will gain new insights from its discussions of the latest fundamentals, characteristics, and profit strategies. New material in this updated fifth edition includes: Updated Overview of the Mortgage Market Securities Backed by Adjustable-Rate Mortgages Prepayment Penalty Mortgage-Backed Securities Building an MBS Index: Conventions and Calculations Nonagency CMOs Securities Backed by Closed-End Home Equity Loans Securities Backed by Manufacturing Housing Loans Mortgage Credit Analysis Credit Performance of High LTV Loans Overview of Recent Prepayment Behavior and Advances in Its Modeling GNMA ARM Prepayment Model The Next Generation of Prepayment Models to Value Nonagency MBS Prepayment Insight: Saxon Mortgage Home Equity Portfolio ARMS Analysis Uncovering Value in Terminal Value PSA Analysis of Low Loan Balance MBS Analysis of Low-WAC MBS The Combined Effects of Low-WAC and Low-Balance on MBS Valuation Hedging with Swaps and Agencies Hedge Effectiveness: A Study by Price Bucket Hedging IOs and Mortgage Servicing Commercial Mortgage-Backed Securities Value and Sensitivity of CMBS IOs CMBS Collateral Performance Mortgage-Backed Securities in Germany, the Netherlands, and Australia Commercial-Backed Securities in Japan A classic of investment literature, "The Handbook of Mortgage-Backed Securities "provides unparalleled coverage of every aspect of themortgage-backed securities market. Authoritative and comprehensive, it explains both the fundamentals and investment characteristics of mortgage-backed securities, as well as state-of-the-art strategies for capitalizing on opportunities. The fifth edition of the "Handbook "is very much a new book. Twe

The Handbook of Fixed Income Securities  Chapter 22   An Overview of Mortgages and the Mortgage Market Book

The Handbook of Fixed Income Securities Chapter 22 An Overview of Mortgages and the Mortgage Market


  • Author : Frank Fabozzi
  • Publisher : McGraw Hill Professional
  • Release Date : 2005-04-15
  • Genre: Business & Economics
  • Pages : 29
  • ISBN 10 : 9780071718189

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The Handbook of Fixed Income Securities Chapter 22 An Overview of Mortgages and the Mortgage Market Excerpt :

From The Handbook of Fixed Income Securities--the most authoritative, widely read reference in the global fixed income marketplace--comes this sample chapter. This comprehensive survey of current knowledge features contributions from leading academics and practitioners and is not equaled by any other single sourcebook. Now, the thoroughly revised and updated seventh edition gives you the facts and formulas you need to compete in today's transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management.

The Handbook of Commercial Mortgage Backed Securities Book
Score: 5
From 1 Ratings

The Handbook of Commercial Mortgage Backed Securities


  • Author : Frank J. Fabozzi
  • Publisher : John Wiley & Sons
  • Release Date : 1998-09-15
  • Genre: Business & Economics
  • Pages : 520
  • ISBN 10 : 188324949X

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The Handbook of Commercial Mortgage Backed Securities Excerpt :

The Handbook of Commercial Mortgage-Backed Securities is a cornerstone reference in this emerging sector of the structured finance market. This Second Edition provides updated coverage of the market, the instruments, the tools used to assess these securities, and tax accounting issues. In addition to an overview of the commercial real estate finance and commercial property markets, this book also covers property-market framework for bond investors, the role of the servicer, an investor's perspective on commercial mortgage-backed coupon strips, defaults on commercial mortgages, assessing credit risk, an options approach to valuation and risk analysis, legal perspectives on disclosure issues, and federal income taxation.

Mortgage Backed Securities Book

Mortgage Backed Securities


  • Author : Frank J. Fabozzi
  • Publisher : Wiley
  • Release Date : 2011-09-21
  • Genre: Business & Economics
  • Pages : 352
  • ISBN 10 : 1118004698

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Mortgage Backed Securities Excerpt :

An up-to-date look at the latest innovations in mortgage-backed securities Since the last edition of Mortgage-Backed Securities was published over three years ago, much has changed in the structured credit market. Frank Fabozzi, Anand Bhattacharya, and William Berliner all have many years of experience working in the fixed-income securitization markets, and have witnessed many cycles of change in the mortgage and MBS sectors. And now, with the Second Edition of Mortgage-Backed Securities, they share their knowledge on many of the products and structuring innovations that have taken place since the financial crisis and fiscal reform. Written in a straightforward and accessible style, and containing numerous illustrations, this timely guide skillfully addresses the investment characteristics, creation, and analysis of mortgage-backed securities. Each chapter contains cutting-edge concepts that you'll need to understand in order to thrive within this arena. Discusses the dynamic interaction between the mortgage industry, home prices, and credit performance Addresses revised valuation techniques in which all non-agency MBS must be treated as credit pieces Examines the shift in this marketplace since the crisis and the impact on industry and investors Filled with in-depth insights and expert advice, Mortgage-Backed Securities, Second Edition offers you a realistic assessment of this field and outlines the products, structures, and analytical techniques you need to know about in this evolving arena.

Mortgage backed securities Book

Mortgage backed securities


  • Author : Jeanpierre Rachmaninoff
  • Publisher : Unknown
  • Release Date : 1985
  • Genre: Mortgage bonds
  • Pages : 126
  • ISBN 10 : OCLC:14711977

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Mortgage backed securities Excerpt :

The Mechanics of Securitization Book

The Mechanics of Securitization


  • Author : Suleman Baig
  • Publisher : John Wiley & Sons
  • Release Date : 2013-01-29
  • Genre: Business & Economics
  • Pages : 208
  • ISBN 10 : 9780470609729

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The Mechanics of Securitization Excerpt :

A step-by-step guide to implementing and closing securitization transactions Securitization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase. The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed. Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors Reviews due diligence and cash flow analysis techniques Examines credit and cash considerations as well as how to list and close deals Describes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departments While securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself.

Understanding the Securitization of Subprime Mortgage Credit Book

Understanding the Securitization of Subprime Mortgage Credit


  • Author : Adam B. Ashcraft
  • Publisher : DIANE Publishing
  • Release Date : 2010-03
  • Genre: Uncategoriezed
  • Pages : 76
  • ISBN 10 : 9781437925142

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Understanding the Securitization of Subprime Mortgage Credit Excerpt :

Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.