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Mortgage-Backed Securities
Products, Structuring, and Analytical Techniques
von Frank J. Fabozzi, Anand K. Bhattacharya und William S. BerlinerAn up-to-date look at the latest innovations in mortgage-backedsecurities
Since the last edition of Mortgage-Backed Securities waspublished over three years ago, much has changed in the structuredcredit market. Frank Fabozzi, Anand Bhattacharya, and WilliamBerliner all have many years of experience working in thefixed-income securitization markets, and have witnessed many cyclesof change in the mortgage and MBS sectors. And now, with the SecondEdition of Mortgage-Backed Securities, they share their knowledgeon many of the products and structuring innovations that have takenplace since the financial crisis and fiscal reform.
Written in a straightforward and accessible style, andcontaining numerous illustrations, this timely guide skillfullyaddresses the investment characteristics, creation, and analysis ofmortgage-backed securities. Each chapter contains cutting-edgeconcepts that you'll need to understand in order to thrive withinthis arena.
* Discusses the dynamic interaction between the mortgageindustry, home prices, and credit performance
* Addresses revised valuation techniques in which all non-agencyMBS must be treated as credit pieces
* Examines the shift in this marketplace since the crisis and theimpact on industry and investors
Filled with in-depth insights and expert advice, Mortgage-Backed Securities, Second Edition offers you arealistic assessment of this field and outlines the products, structures, and analytical techniques you need to know about inthis evolving arena.
Since the last edition of Mortgage-Backed Securities waspublished over three years ago, much has changed in the structuredcredit market. Frank Fabozzi, Anand Bhattacharya, and WilliamBerliner all have many years of experience working in thefixed-income securitization markets, and have witnessed many cyclesof change in the mortgage and MBS sectors. And now, with the SecondEdition of Mortgage-Backed Securities, they share their knowledgeon many of the products and structuring innovations that have takenplace since the financial crisis and fiscal reform.
Written in a straightforward and accessible style, andcontaining numerous illustrations, this timely guide skillfullyaddresses the investment characteristics, creation, and analysis ofmortgage-backed securities. Each chapter contains cutting-edgeconcepts that you'll need to understand in order to thrive withinthis arena.
* Discusses the dynamic interaction between the mortgageindustry, home prices, and credit performance
* Addresses revised valuation techniques in which all non-agencyMBS must be treated as credit pieces
* Examines the shift in this marketplace since the crisis and theimpact on industry and investors
Filled with in-depth insights and expert advice, Mortgage-Backed Securities, Second Edition offers you arealistic assessment of this field and outlines the products, structures, and analytical techniques you need to know about inthis evolving arena.
