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Author : Andrew S. Davidson,Michael D. Herskovitz
Publisher : Unknown
Page : 0 pages
File Size : 44,7 Mb
Release : 1996
Category : Finansielle instrumenter
ISBN : 1557389152
Author : Anonim
Publisher : Unknown
Page : 211 pages
File Size : 44,6 Mb
Release : 2014
Category : Mortgage-backed securities
ISBN : 0578148153
Author : Frank J. Fabozzi,Anand K. Bhattacharya,William S. Berliner
Publisher : John Wiley & Sons
Page : 358 pages
File Size : 45,8 Mb
Release : 2011-08-31
Category : Business & Economics
ISBN : 9781118149294
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.
Author : Andrew S. Davidson,Michael D. Herskovitz
Publisher : Irwin Professional Publishing
Page : 292 pages
File Size : 52,7 Mb
Release : 1994
Category : Business & Economics
ISBN : 1557384401
Author : Richard K. Green
Publisher : Academic Press
Page : 256 pages
File Size : 51,5 Mb
Release : 2013-11-21
Category : Business & Economics
ISBN : 9780124045934
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
Author : Lakhbir Hayre
Publisher : John Wiley & Sons
Page : 896 pages
File Size : 52,9 Mb
Release : 2001-05-07
Category : Business & Economics
ISBN : 0471385875
Der Markt für hypothekarisch gedeckte und forderungsbesicherte Wertpapiere ist seit 1980 von etwa 1 Milliarde US Dollar auf über 2,5 Billionen US Dollar angestiegen. Der "Salomon Smith Barney Guide to Mortgaged-Backed and Asset-Backed Securities" trägt dieser Entwicklung Rechnung. Autor Lakhbir Hayre, Mitarbeiter von Salomon Smith Barney, New York, erläutert dieses Thema anhand von unternehmeninternem Material anschaulich, zusammenhängend, praxisnah und umfassend. Dieses Buch ist nicht nur ein nützlicher Leitfaden für die Praxis, sondern auch ein ideales Übungsbuch und Nachschlagewerk für alle Investmentprofis, institutionelle Anleger und Anleger in Pensionsfonds und Hedge Funds.
Author : Frank J. Fabozzi
Publisher : Oxford University Press
Page : 864 pages
File Size : 46,6 Mb
Release : 2016-08-11
Category : Business & Economics
ISBN : 9780191088773
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.
Author : Frank J. Fabozzi,David P. Jacob
Publisher : John Wiley & Sons
Page : 522 pages
File Size : 45,8 Mb
Release : 1998-09-15
Category : Business & Economics
ISBN : 188324949X
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.
Author : Andrew S. Davidson,Alexander Levin
Publisher : Financial Management Associati
Page : 465 pages
File Size : 50,6 Mb
Release : 2014
Category : Business & Economics
ISBN : 9780199998166
Mortgage-backed securities (MBS) are among the most complex of all financial instruments. Analysis of MBS requires blending empirical analysis of borrower behavior with the mathematical modeling of interest rates and home prices. Over the past 25 years, Andrew Davidson and Alexander Levin have been at the leading edge of MBS valuation and risk analysis. Mortgage Valuation Models: Embedded Options, Risk, and Uncertainty contains a detailed description of the sophisticated theories and advanced methods that the authors employ in real-world analyses of mortgage-backed securities. Issues such as complexity, borrower options, uncertainty, and model risk play a central role in the authors' approach to the valuation of MBS. The coverage spans the range of mortgage products from loans and TBA (to-be-announced) pass-through securities to subordinate tranches of subprime-mortgage securitizations. With reference to the classical CAPM and APT, the book advocates extending the concept of risk-neutrality to modeling home prices and borrower options, well beyond interest rates. It describes valuation methods for both agency and non-agency MBS including pricing new loans; approaches to prudent risk measurement, ranking, and decomposition; and methods for modeling prepayments and defaults of borrowers. The authors also reveal quantitative causes of the 2007-09 financial crisis and provide insight into the future of the U.S. housing finance system and mortgage modeling as this field continues to evolve. This book will serve as a foundation for the future development of models for mortgage-backed securities.
Author : Frank J. Fabozzi,Chuck Ramsey,Michael Marz
Publisher : John Wiley & Sons
Page : 532 pages
File Size : 41,7 Mb
Release : 2000-02-15
Category : Business & Economics
ISBN : 1883249686
Frank Fabozzi and Chuck Ramsey update their treatise on nonagency mortgage backed securities in this third edition of The Handbook of Nonagency Mortgage Backed Securities. Focused on an important investing area that continues to grow, this book provides comprehensive coverage of all aspects of this specialized market sector, including the mortgage-related asset-backed securities market and commercial mortgage-backed securities. There is information on raw products, such as jumbo loans, alternative A mortgages, and 125 LTV mortgages, as well as structured products, analytical techniques, prepayment characteristics, and credit issues. This fast-growing segment also includes nonagency pass through, nonagency collateralized mortgage obligations, home loan equity-backed securities, and manufacture housing loan backed securities.
Author : Louis J. Karcher
Publisher : Prentice Hall
Page : 398 pages
File Size : 44,6 Mb
Release : 1989
Category : Business & Economics
ISBN : IND:39000009234522
AFTER THE TRADE IS MADE: Processing Securities Tranactions what happens when a security is issued and then bought or sold? This new book, written by David M, Weiss, a director of the New York Stock Exchange who is responsible for its Diversified Products Division, presents the processes and flows of information that attend the purchase and sale of securities.
Author : Frank J. Fabozzi,Anand K. Bhattacharya,William S. Berliner
Publisher : John Wiley & Sons
Page : 302 pages
File Size : 49,6 Mb
Release : 2010-12-30
Category : Business & Economics
ISBN : 9781118044711
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.
Author : William W. Bartlett
Publisher : Prentice Hall
Page : 536 pages
File Size : 52,8 Mb
Release : 1989
Category : Business & Economics
ISBN : IND:39000009180279
Author : Frank J. Fabozzi
Publisher : Irwin Professional Publishing
Page : 656 pages
File Size : 45,9 Mb
Release : 1985
Category : Business & Economics
ISBN : IND:39000008208162
The definitive MBS guide, with fully updated material on the latest mortgage-backed products, methods, models, and portfolio strategies By providing hands-on information vital to market participants, previous editions of "The Handbook of Mortgage-Backed Securities" were instrumental in fueling the growth of the mortgage-backed securities market. The sixth edition contains all the elements that made previous editions so successful and influential, and provides you with more than 25 new chapters on topics including collateralized mortgage obligations, prepayment derivatives, loan level determinants of repayments, new approaches to MBS valuation, and a survey of non-U.S. mortgage rates.
Author : Frank J. Fabozzi
Publisher : John Wiley & Sons
Page : 276 pages
File Size : 52,6 Mb
Release : 2000-12-15
Category : Business & Economics
ISBN : 1883249880
Commercial mortgage-backed securities (CMBS)-securitizations of mortgage loans backed by commercial real estate-have become compelling devices for fixed income investing. This title, edited by renowned financial expert Frank Fabozzi, describes the structure, valuation, and performance of CMBS, illustrates an empirical framework for estimating CMBS defaults, instructs how to value prepayment and credit risks of CMBS, and more.