An 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.
