Mortgage-backed Securities Including REMICs and Other Investment Vehicles PDF Download
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Author: Thomas A. Humphreys
Publisher: Aspen Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 340
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Author: Thomas A. Humphreys
Publisher: Aspen Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 340
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Author: Frank J. Fabozzi
Publisher: John Wiley & Sons
ISBN: 1118044711
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
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: Laurence G. Taff
Publisher: Amacom Books
ISBN: 9780814407394
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
The U.S. residential mortgage market is worth 4 trillion dollars -- more than stocks, corporate bonds, or any other headline market. And since people will always buy homes, mortgage securities are among the most stable investment vehicles available anywhere.This book takes investment professionals and sophisticated consumer investors through the strategy, mathematics, and risk management of mortgage securities. From a basic explanation of how these investments work to the detailed math behind the savviest decisions, author Laurence Taft covers: how and why to invest in mortgage securities, as compared to other fixed-income instruments -- different types of mortgages and their markets -- how to predict and model interest rates using universally accepted methods -- how rate changes, accelerated payment, and early payoff can affect return -- and much moreAll the information is supported by equations the author has developed in his career at one of the nation's largest issuers of mortgages and mortgage securities.
Author: Kenneth G. Lore
Publisher:
ISBN: 9780876325551
Category : Mortgage bonds
Languages : en
Pages :
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Author: Charles Austin Stone
Publisher: John Wiley & Sons
ISBN: 1118233034
Category : Business & Economics
Languages : en
Pages : 469
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Book Description
A comprehensive guide to the continuously evolving world of securitization The Second Edition of The Securitization Markets Handbook is a valuable resource for both experienced money managers trying to put a securitization strategy into place as well as newcomers looking to acquire a broad and strong foundation in this discipline. This edition takes a close look at the pre- and post-crash mortgage market and the mortgage-backed securities based on those mortgages, as well as other asset-backed securities including commercial paper or credit cards. The crash of the subprime market and the failure of the asset-backed markets offer an opportunity to learn about banking finance, specifically off-balance sheet finance, and the many costly mistakes that resulted in one of the most severe downturns in financial markets. With this book, you'll discover why certain mortgage and asset-backed securities imploded and others didn't. This new edition examines why the market failed and how the next crisis can be averted or made less severe. It also explains why securitization remains a primary source of capital for the mortgage market, credit card market, home equity market, auto loan market, and segments of the commercial paper market. Offers an informed overview of how the securitization market works, how to make money in it, and what's next for asset- and mortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history of the growth and crash of the subprime market, asset-backed securities, and home equity lines of credit Written by securitization experts Charles Stone and Anne Zissu Updated to reflect the current market environment, the Second Edition of The Securitization Markets Handbook offers clear, comprehensive guidance to these complex markets.
Author: Marshall D. Feiring
Publisher:
ISBN: 9781617468766
Category : Mortgage bonds
Languages : en
Pages :
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Book Description
... focuses on the most-used vehicles for repacking interests in home and commercial mortgages and reselling those interests into the secondary market. Real Estate Mortgage Investment Conduits (REMICs) is the primary topic and the portfolio considers in detail: (i) the tax requirements for qualifying and remaining qualified as a REMIC, (ii) the tax consequences of funding and operating a REMIC, and (iii) the treatment of the holders of the REMIC's regular interests (which are deemed to be debt whether they meet the usual tax conditions for debt classification or not) and the REMIC's residual interests (the income on which cannot be reduced by deductions).
Author: William W. Bartlett
Publisher: Prentice Hall
ISBN:
Category : Business & Economics
Languages : en
Pages : 536
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Author: Leon T. Kendall
Publisher: MIT Press
ISBN: 9780262611633
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes. Gathering fourteen lectures by the pioneers of securitization and by current practitioners--from Freddie Mac, Paine Webber, JP Morgan, Chrysler, McKinsey & Co, and other major players-- A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes.The securitization process bypasses financial intermediaries that have historically collected deposits and loaned them to those seeking funds, and links borrowers directly to money and capital markets. Although little has been written about what is perhaps one of the most important innovations to emerge in financial markets since the 1930s, securitization has revolutionized the way that the borrowing needs of consumers and businesses are met. Today, for example, over two-thirds of all home loans are being securitized, along with substantial percentages of auto loans and credit card receivables, and the process continues to expand into new fields including synthetic securities. Authoritative and practical, these lectures show how securitization was developed to fill a gap in financial markets. They discuss the nature and causes of the market imperfections that made securitization a valuable source of funds, and describe how securitization has linked local mortgage markets with international capital markets. Readers will gain a broad perspective of the different parties--the borrower, the loan originator, the servicer, the rating agency, the special purpose vehicle, the credit enhancer, the underwriter, and the investor--as well as a detailed analysis of how these parties relate to one another. From the inception of the secondary mortgage market through the collapse of the Granite funds, readers will learn not only about the success but also about the excesses and failures that typically accompany the development of any product in the real or financial sector.
Author: Frank J. Fabozzi
Publisher: Irwin Professional Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 506
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Author: Marsh, John P., & Company, Chicago
Publisher:
ISBN:
Category : Mortgages
Languages : en
Pages : 56
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Book Description
