Published May 1991
by Irwin Professional Pub .
Written in English
|Contributions||Margaret A. Celic (Editor)|
|The Physical Object|
|Number of Pages||408|
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 Cited by: 7. 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 1/5(1). Agency Swap Program: A form of securitization whereby single-family residential mortgages are swapped for mortgage-backed securities issued by government agencies such as Fannie Mae and Freddie. Adjustable-rate mortgage securities (ARMS) Mortgage-backed securities where the underlying asset is a pool of Adjustable rate mortgages.
These innovations--adjustable rate mortgages (ARMs) and mortgage-backed securities (MBSs), which include passthroughs, collateralized mortgage obligations (CMOs), stripped MBSs, and so forth--have been a great success, created a large and growing industry, and demonstrated how financial engineering can redirect cash flows from a pool of assets Reviews: 2. Presents mortgage-backed securities valuation techniques—pass-through valuation and interest rate models Engaging and informative, this book skillfully shows you how to build, rather than buy, models and proprietary analytical platforms that will allow you to invest in mortgage- and asset-backed securities. Mortgage Backed Securities is a fast-paced, comprehensive yet detailed introduction to the U.S. mortgage-backed securities market. The coverage runs from the basics of terminology and features of individual mortgage contracts all the way through to the structure and investment characteristics of exotic instruments such as PAC bond tranches and reverse mortgage securitization. ADJUSTABLE RATE MORTGAGES: VALUATION true profit over the investor's own funding costs. It also makes inter-ARM com- parisons difficult. For example, if the effective margin of a COFI-linked ARM is basis points while a Treasury-linked ARM's effective margin is basis.
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. Adjustable-rate mortgages and mortgage-backed securities: the complete reference guide for originators, issuers, and investors. Mortgage-backed securities (MBS) are investments that are secured by mortgages. They’re a type of asset-backed security.A security is an investment made with the expectation of making a profit through someone else's efforts. It allows investors to benefit from the mortgage business without ever having to buy or sell an actual home loan. An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.