Basics of Mortgage-Backed Securities

Basics of Mortgage-Backed Securities
By:"Joseph Hu"
Published on 2001-01-15 by John Wiley & Sons

The purpose of Basics of Mortgage–Backed Securities is to provide readers with a fundamental understanding of mortgage securities as an integral part of investment in fixed–income securities. The second edition of this MBS classic provides the latest information on the U.S. residential mortgage market, adjustable–rate mortgages and mortgage pass–throughs, relative value analyses and performance characteristics. Dr. James Hu discusses the major changes within the mortgage market that may affect the fundamentals of mortgage securities. Some of these are: the recovery of the REMIC market after its collapse; the flourish of private–label securities; the growth of equity loan–backed securities and its establishment as a member of the fixed–income securities family. Also included are additional historical data for all exhibits. Mortgage pre–payment, dollar rolls, and private–label mortgage–backed securities are also addressed.

This Book was ranked 20 by Google Books for keyword mortgage.

Mortgage-Backed Securities

Mortgage-Backed Securities
By:"Frank J. Fabozzi","Anand K. Bhattacharya","William S. Berliner"
Published on 2011-08-31 by John Wiley & Sons

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.

This Book was ranked 18 by Google Books for keyword mortgage.

Investing in Commercial Mortgage-Backed Securities

Investing in Commercial Mortgage-Backed Securities
By:"Frank J. Fabozzi, CFA"
Published on 2000-12-15 by John Wiley & Sons

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.

This Book was ranked 28 by Google Books for keyword mortgage.

The Handbook of Commercial Mortgage-Backed Securities

The Handbook of Commercial Mortgage-Backed Securities
By:"Frank J. Fabozzi, CFA","David P. Jacob"
Published on 1998-09-15 by John Wiley & Sons

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.

This Book was ranked 25 by Google Books for keyword mortgage.

Trends in Commercial Mortgage-Backed Securities

Trends in Commercial Mortgage-Backed Securities
By:"Frank J. Fabozzi, CFA"
Published on 1998-06-20 by John Wiley & Sons

Mortgage-backed securities are becoming an increasingly popular tool for constructing a solid portfolio in today's turbulent market. Frank Fabozzi leads more than a dozen experts in examining all the latest trends of this investment strategy, providing in-depth insight and explaining key areas of the commercial mortgage-backed securities landscape. Topics covered include measuring risks in the whole-loan commercial market, multi-family mortgage-backed securities, and B Pieces. Following on the heels of Advances in Mortgage-Backed Securities and The Handbook of Commercial Mortgage-Backed Securities, Trends in Commercial Mortgage-Backed Securities further demonstrates editor Fabozzi's authority in the subject.

This Book was ranked 39 by Google Books for keyword mortgage.

Housing Finance and Mortgage-Backed Securities in Mexico

Housing Finance and Mortgage-Backed Securities in Mexico
By:"L. Zanforlin","Marco Espinosa-Vega"
Published on 2008-04-01 by International Monetary Fund

This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets. The paper identifies areas warranting close attention to improve the outlook for the Mexican RMBS market and draws some lessons from the recent U.S. subprime mortgage market problems.

This Book was ranked 32 by Google Books for keyword mortgage.

Basket Securities - The Future of Stock Trading?

Basket Securities - The Future of Stock Trading?
By:"Martin Bendmann"
Published on 2006-02-07 by GRIN Verlag

Seminar paper from the year 2006 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 2,0, European University Viadrina Frankfurt (Oder), course: Market Microstructure, 20 entries in the bibliography, language: English, abstract: Harry M. Markowitz developed the most renowned capital market theory of the last century, for which he received the Nobel Prize in 1990, the “Modern Portfolio Theory”, which can be seen as the basis for basket securities. He recommended investments in diversified portfolios in order to reduce risk.1Especially institutional investors started to trade large diversified bundles of shares in order to construct efficient portfolios. Soon they recognized, that they need to find an alternative with lower transaction costs and lower potential to destabilize the market than the conventional program trading.2Trading baskets that include all stocks, with narrow spreads and liquid markets, appeared to be a solution. As a result at the beginning of the 70s the first index funds were issued in the USA, based on the assumption, that actively managed funds are not able to outperform the market in the long term. Those funds are intended to avoid the costs of program trading that occurred every trade and meet the needs and expectations of the investors. Due to the instant success, several instruments were created. In the following pages I will point out how an ideal basket vehicle should be designed and afterwards examine some of the most popular basket securities concerning the question how good they meet their target of replicating their underlying index and at which price.

This Book was ranked 25 by Google Books for keyword stock trading.