MBSs have proven to be a useful model for other forms of asset securitizations such as securities based on auto loans and credit card receivables. Mortgage-backed securities provide many useful benefits to both issuers and investors, but they are among the most complex of securities and appear in many interesting puzzling forms. Success in issuing, trading, and investing in MBSs requires a thorough understanding of their pricing and management of prepayment risks, and Professors Fabozzi and Modigliani have made an important contribution to that understanding in this important new book,.
In this state-of-the-art treatment, Frank Fabozzi and Franco Modigliani offer the first book to systematically address the complex subject of mortgages and mortgage-backed securities without being unduly mathematical. Beginning with the basic mortgage, the authors explain the development of the secondary mortgage market. They show how the market has been transformed from total dependence on local deposits to a market with a broad base of investors in the United States, Europe, and Japan.
The business of mortgage origination, servicing, insurance, mortgage pooling, and the historical origins of securitization are fully described.
The authors take the reader through the procedure for pricing traditional bonds to the complex process of valuing a variety of mortgage-backed securities. Visit our Beautiful Books page and find lovely books for kids, photography lovers and more. For more than twenty-five years, the number-one resource for both private investors and professional portfolio managers looking to gain a practical understanding of the rapidly evolving MBS market has been The Handbook of Mortgage-Backed Securities.
Covering the full range of MBS products agency, nonagency, and resident ABS and derivatives, the Handbook explores the many advantages and potential pitfalls inherent in the market and shows you how to:.
RowlingHardcover Just a moment while we sign you in to your Goodreads account. The sixth edition ffabozzi 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.
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 mbx including collateralized mortgage obligations, prepayment derivatives, loan level determinants of repayments, new approaches to MBS valuation, and a survey of non-U. 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 fabozzj.
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.
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M G rated it liked it Mar 09, People who bought this also bought. Fabozzi is editor of the Journal of Portfolio Management and the bestselling author of more than forty books, including the acclaimed The Handbook of Fixed Income Securities. There are no discussion topics on this book yet. Invest in the full range of products backed by mortgage loans, Value all types of MBS, Control interest rate risk, Exploit proven portfolio management tools and techniques, Use sophisticated hedging strategies and tools.
Rajaram rated it really liked it Oct 01, This text has been revised following the subprime mortgage crisis, and 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.
Fabozzi Abstract This text has been revised following the subprime mortgage crisis, and 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 bms.
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