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Introduction To Mortgages Mortgage Backed Securities

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Introduction to Mortgages and Mortgage Backed Securities

Introduction to Mortgages and Mortgage Backed Securities Book
Author : Richard K. Green
Publisher : Academic Press
Release : 2013-11-21
ISBN : 0124045936
Language : En, Es, Fr & De

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Book Description :

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, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making

Introduction to Mortgages and Mortgage backed Securities

Introduction to Mortgages and Mortgage backed Securities Book
Author : Peter G. Brown,Thomas A. Zimmerman,K. Jeanne Person,Salomon Brothers
Publisher : Unknown
Release : 1987
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Introduction to Mortgages and Mortgage backed Securities book written by Peter G. Brown,Thomas A. Zimmerman,K. Jeanne Person,Salomon Brothers, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Mortgage Backed Securities

Mortgage Backed Securities Book
Author : Frank J. Fabozzi,Anand K. Bhattacharya,William S. Berliner
Publisher : John Wiley & Sons
Release : 2010-12-30
ISBN : 9781118044711
Language : En, Es, Fr & De

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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.

Salomon Smith Barney Guide to Mortgage Backed and Asset Backed Securities

Salomon Smith Barney Guide to Mortgage Backed and Asset Backed Securities Book
Author : Lakhbir Hayre
Publisher : John Wiley & Sons
Release : 2002-11-11
ISBN : 0471196908
Language : En, Es, Fr & De

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Book Description :

Mortgage-backed and asset-backed securities are fixed-income securities, like bonds, which derive their return from an underlying mortgage or basket of mortgages, or an asset or basket of assets. This market has increased from about $100 billion in 1980 to over $2.5 trillion today. Filling the void for a new book on fixed-income, Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provides a coherent and comprehensive approach to the subject. Featuring material used by the company, this book is an ideal training tool and resource for investment professionals, institutional investors, pension fund investors, and hedge-fund investors. Lakhbir Hayre (New York, NY) is a mortgage officer at Salomon Smith Barney, and their leading expert on mortgage-backed and asset-backed securities. He is a Certified Financial Analyst and a Doctor of Philosophy.

The Big Short Inside the Doomsday Machine movie tie in

The Big Short  Inside the Doomsday Machine  movie tie in  Book
Author : Michael Lewis
Publisher : W. W. Norton & Company
Release : 2015-11-16
ISBN : 0393353168
Language : En, Es, Fr & De

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Book Description :

The #1 New York Times bestseller—Now a Major Motion Picture from Paramount Pictures From the author of The Blind Side and Moneyball, The Big Short tells the story of four outsiders in the world of high-finance who predict the credit and housing bubble collapse before anyone else. The film adaptation by Adam McKay (Anchorman I and II, The Other Guys) features Academy Award® winners Christian Bale, Brad Pitt, Melissa Leo and Marisa Tomei; Academy Award® nominees Steve Carell and Ryan Gosling. When the crash of the U.S. stock market became public knowledge in the fall of 2008, it was already old news. The real crash, the silent crash, had taken place over the previous year, in bizarre feeder markets where the sun doesn’t shine and the SEC doesn’t dare, or bother, to tread. Who understood the risk inherent in the assumption of ever-rising real estate prices, a risk compounded daily by the creation of those arcane, artificial securities loosely based on piles of doubtful mortgages? In this fitting sequel to Liar’s Poker, Michael Lewis answers that question in a narrative brimming with indignation and dark humor.

The Handbook of Mortgage Backed Securities 7th Edition

The Handbook of Mortgage Backed Securities  7th Edition Book
Author : Frank J. Fabozzi
Publisher : Oxford University Press
Release : 2016-08-11
ISBN : 0191088773
Language : En, Es, Fr & De

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Book Description :

This edition of The Handbook of Mortgage-Backed Securities, the first revision following the subprime mortgage crisis, 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. The book is intended for both the individual investor and the professional manager. The volume includes contributions from a wide range of experts most of whom have been actively involved in the evolution of the mortgage-backed securities market.

Mortgage Backed Securities

Mortgage Backed Securities Book
Author : Frank J. Fabozzi, CFA,Anand K. Bhattacharya,William S. Berliner
Publisher : Wiley
Release : 2007-07-09
ISBN : 9780470047736
Language : En, Es, Fr & De

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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.

Introduction to Securitization

Introduction to Securitization Book
Author : Frank J. Fabozzi,Vinod Kothari
Publisher : John Wiley & Sons
Release : 2008-06-06
ISBN : 0470419571
Language : En, Es, Fr & De

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Book Description :

Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction with practitioners and graduate students around the world. The authors offer coverage of such key topics as: structuring agency MBS deals and nonagency deals, credit enhancements and sizing, using interest rate derivatives in securitization transactions, asset classes securitized, operational risk factors, implications for financial markets, and applying securitization technology to CDOs. Finally, in the appendices, the authors provide an essential introduction to credit derivatives, an explanation of the methodology for the valuation of MBS/ABS, and the estimation of interest rate risk. Securitization is a financial technique that pools assets together and, in effect, turns them into a tradable security. The end result of a securitization transaction is that a corporation can obtain proceeds by selling assets and not borrowing funds. In real life, many securitization structures are quite complex and enigmatic for practitioners, investors, and finance students. Typically, books detailing this topic are either too lengthy, too technical, or too superficial in their presentation. Introduction to Securitization is the first to offer essential information on this topic at a fundamental, yet comprehensive level-providing readers with a working understanding of what has become one of today's most important areas of finance. Authors Frank Fabozzi and Vinod Kothari, internationally recognized experts in the field, clearly define securitization, contrast it with corporate finance, and explain its advantages. They carefully illustrate the structuring of asset-backed securities (ABS) transactions, including agency mortgage-backed securities (MBS) deals and nonagency deals, and show the use of credit enhancements and interest rate derivatives in such transactions. They review the collateral classes in ABS, such as retail loans, credit cards, and future flows, and discuss ongoing funding vehicles such as asset-backed commercial paper conduits and other structured vehicles. And they explain the different types of collateralized debt obligations (CDOs) and structured credit, detailing their structuring and analysis. To complement the discussion, an introduction to credit derivatives is also provided. The authors conclude with a close look at securitization's impact on the financial markets and the economy, with a review of the now well-documented problems of the securitization of one asset class: subprime mortgages. While questions about the contribution of securitization have been tainted by the subprime mortgage crisis, it remains an important process for corporations, municipalities, and government entities seeking funding. The significance of this financial innovation is that it has been an important form of raising capital for corporations and government entities throughout the world, as well as a vehicle for risk management. Introduction to Securitization offers practitioners and students a simple and comprehensive entry into the interesting world of securitization and structured credit.

Introduction to Securitization

Introduction to Securitization Book
Author : Frank J. Fabozzi,Vinod Kothari
Publisher : John Wiley & Sons
Release : 2008-07-15
ISBN : 0470371900
Language : En, Es, Fr & De

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Book Description :

Introduction to Securitization outlines the basics of securitization, addressing applications for this technology to mortgages, collateralized debt obligations, future flows, credit cards, and auto loans. The authors present a comprehensive overview of the topic based on the experience they have gathered through years of interaction with practitioners and graduate students around the world. The authors offer coverage of such key topics as: structuring agency MBS deals and nonagency deals, credit enhancements and sizing, using interest rate derivatives in securitization transactions, asset classes securitized, operational risk factors, implications for financial markets, and applying securitization technology to CDOs. Finally, in the appendices, the authors provide an essential introduction to credit derivatives, an explanation of the methodology for the valuation of MBS/ABS, and the estimation of interest rate risk. Securitization is a financial technique that pools assets together and, in effect, turns them into a tradable security. The end result of a securitization transaction is that a corporation can obtain proceeds by selling assets and not borrowing funds. In real life, many securitization structures are quite complex and enigmatic for practitioners, investors, and finance students. Typically, books detailing this topic are either too lengthy, too technical, or too superficial in their presentation. Introduction to Securitization is the first to offer essential information on this topic at a fundamental, yet comprehensive level-providing readers with a working understanding of what has become one of today's most important areas of finance. Authors Frank Fabozzi and Vinod Kothari, internationally recognized experts in the field, clearly define securitization, contrast it with corporate finance, and explain its advantages. They carefully illustrate the structuring of asset-backed securities (ABS) transactions, including agency mortgage-backed securities (MBS) deals and nonagency deals, and show the use of credit enhancements and interest rate derivatives in such transactions. They review the collateral classes in ABS, such as retail loans, credit cards, and future flows, and discuss ongoing funding vehicles such as asset-backed commercial paper conduits and other structured vehicles. And they explain the different types of collateralized debt obligations (CDOs) and structured credit, detailing their structuring and analysis. To complement the discussion, an introduction to credit derivatives is also provided. The authors conclude with a close look at securitization's impact on the financial markets and the economy, with a review of the now well-documented problems of the securitization of one asset class: subprime mortgages. While questions about the contribution of securitization have been tainted by the subprime mortgage crisis, it remains an important process for corporations, municipalities, and government entities seeking funding. The significance of this financial innovation is that it has been an important form of raising capital for corporations and government entities throughout the world, as well as a vehicle for risk management. Introduction to Securitization offers practitioners and students a simple and comprehensive entry into the interesting world of securitization and structured credit.

The Handbook of Fixed Income Securities Chapter 22 An Overview of Mortgages and the Mortgage Market

The Handbook of Fixed Income Securities  Chapter 22   An Overview of Mortgages and the Mortgage Market Book
Author : Frank Fabozzi,Frank J. Fabozzi
Publisher : McGraw Hill Professional
Release : 2005-04-15
ISBN : 0071718184
Language : En, Es, Fr & De

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Book Description :

From The Handbook of Fixed Income Securities--the most authoritative, widely read reference in the global fixed income marketplace--comes this sample chapter. This comprehensive survey of current knowledge features contributions from leading academics and practitioners and is not equaled by any other single sourcebook. Now, the thoroughly revised and updated seventh edition gives you the facts and formulas you need to compete in today's transformed marketplace. It places increased emphasis on applications, electronic trading, and global portfolio management.

The Handbook of Mortgage backed Securities

The Handbook of Mortgage backed Securities Book
Author : Frank J. Fabozzi
Publisher : McGraw-Hill Companies
Release : 2001
ISBN : 9780071359467
Language : En, Es, Fr & De

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Book Description :

The Definitive Book on Mortgage-Backed Securities--Now Revised and Updated "The Handbook of Mortgage-Backed Securities "is the classic-- and single best-- resource for understanding and trading mortgage-backed securities. All professionals in the MBS market-- from portfolio managers and traders to originators and consultants--will gain new insights from its discussions of the latest fundamentals, characteristics, and profit strategies. New material in this updated fifth edition includes: Updated Overview of the Mortgage Market Securities Backed by Adjustable-Rate Mortgages Prepayment Penalty Mortgage-Backed Securities Building an MBS Index: Conventions and Calculations Nonagency CMOs Securities Backed by Closed-End Home Equity Loans Securities Backed by Manufacturing Housing Loans Mortgage Credit Analysis Credit Performance of High LTV Loans Overview of Recent Prepayment Behavior and Advances in Its Modeling GNMA ARM Prepayment Model The Next Generation of Prepayment Models to Value Nonagency MBS Prepayment Insight: Saxon Mortgage Home Equity Portfolio ARMS Analysis Uncovering Value in Terminal Value PSA Analysis of Low Loan Balance MBS Analysis of Low-WAC MBS The Combined Effects of Low-WAC and Low-Balance on MBS Valuation Hedging with Swaps and Agencies Hedge Effectiveness: A Study by Price Bucket Hedging IOs and Mortgage Servicing Commercial Mortgage-Backed Securities Value and Sensitivity of CMBS IOs CMBS Collateral Performance Mortgage-Backed Securities in Germany, the Netherlands, and Australia Commercial-Backed Securities in Japan A classic of investment literature, "The Handbook of Mortgage-Backed Securities "provides unparalleled coverage of every aspect of themortgage-backed securities market. Authoritative and comprehensive, it explains both the fundamentals and investment characteristics of mortgage-backed securities, as well as state-of-the-art strategies for capitalizing on opportunities. The fifth edition of the "Handbook "is very much a new book. Twenty-nine of the chapters are either new or have been substantially revised. The book fully reflects the most recent developments in the mortgage-backed securities market, in terms of both product development and financial technology. Compiled by Frank J. Fabozzi, the "Handbook "features contributions from a wide range of experts. Entirely new sections on credit sensitive mortgage-backed securities, prepayment modeling, and non-U.S. mortgage-backed securities help to provide a seamless transition into the 24-hour, global financial markets of the 21st century. As a result, readers are given a well-rounded, real-world perspective on this dynamic and multifaceted market--with the "Handbook"'s well-known focus on applied materials and techniques making this updated edition required reading for all market practitioners. The "Handbook "is divided into seven sections: Mortgages and Pass-Through Securities Stripped Mortgage-Backed Securities and Collateralized Mortgage Obligations Credit-Sensitive Mortgage-Backed Securities Prepayment Modeling Valuation Techniques, Relative Value Analysis, and Portfolio Strategies Commercial Mortgage-Backed Securities Non-U.S. Mortgage-Backed Securities 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 securitiesmarket. The fifth edition contains all the elements that made the previous four editions so successful and influential--and continues the book's long tradition of providing cutting edge information for investors, traders, and other professionals involved in the mortgage-backed securities market.

The Handbook of Commercial Mortgage Backed Securities

The Handbook of Commercial Mortgage Backed Securities Book
Author : Frank J. Fabozzi,David P. Jacob
Publisher : John Wiley & Sons
Release : 1998-09-15
ISBN : 9781883249496
Language : En, Es, Fr & De

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Book Description :

The Handbook of Commercial Mortgage-Backed Securities is a cornerstone reference in this emerging sector of the structured finance market. This Second Edition provides updated coverage of the market, the instruments, the tools used to assess these securities, and tax accounting issues. In addition to an overview of the commercial real estate finance and commercial property markets, this book also covers property-market framework for bond investors, the role of the servicer, an investor's perspective on commercial mortgage-backed coupon strips, defaults on commercial mortgages, assessing credit risk, an options approach to valuation and risk analysis, legal perspectives on disclosure issues, and federal income taxation.

Mortgage backed securities

Mortgage backed securities Book
Author : Jeanpierre Rachmaninoff,Peter Charles McLaughlin
Publisher : Unknown
Release : 1985
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Mortgage backed securities book written by Jeanpierre Rachmaninoff,Peter Charles McLaughlin, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Understanding the Securitization of Subprime Mortgage Credit

Understanding the Securitization of Subprime Mortgage Credit Book
Author : Adam B. Ashcraft
Publisher : DIANE Publishing
Release : 2010-03
ISBN : 1437925146
Language : En, Es, Fr & De

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Book Description :

Provides an overview of the subprime mortgage securitization process and the seven key informational frictions that arise. Discusses the ways that market participants work to minimize these frictions and speculate on how this process broke down. Continues with a complete picture of the subprime borrower and the subprime loan, discussing both predatory borrowing and predatory lending. Presents the key structural features of a typical subprime securitization, documents how rating agencies assign credit ratings to mortgage-backed securities, and outlines how these agencies monitor the performance of mortgage pools over time. The authors draw upon the example of a mortgage pool securitized by New Century Financial during 2006. Illustrations.

The Mechanics of Securitization

The Mechanics of Securitization Book
Author : Suleman Baig,Moorad Choudhry
Publisher : John Wiley & Sons
Release : 2013-01-29
ISBN : 0470609729
Language : En, Es, Fr & De

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Book Description :

A step-by-step guide to implementing and closing securitization transactions Securitization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase. The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed. Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors Reviews due diligence and cash flow analysis techniques Examines credit and cash considerations as well as how to list and close deals Describes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departments While securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself.

Ginnie Mae Platinum Securities

Ginnie Mae Platinum Securities Book
Author : Anonim
Publisher : Unknown
Release : 1998
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Ginnie Mae Platinum Securities book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

An Introduction to Real Estate Finance

An Introduction to Real Estate Finance Book
Author : Edward Glickman
Publisher : Academic Press
Release : 2013-10-14
ISBN : 0123786274
Language : En, Es, Fr & De

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Book Description :

An Introduction to Real Estate Finance serves as the core of knowledge for a single-semester first course in real estate finance. Unlike other real estate finance textbooks, with their encyclopedic but often stale details, it combines a short traditional text with a living website. The book gives students and professors highly applied information, and its regularly updated online features makes it especially useful for this practitioner-oriented audience. It covers fundamental topics such as accounting and tax, mortgages, capital markets, REITs and more. It also addresses the 2008 financial crisis and its impact on the real estate profession. This text is a valuable companion for students of real estate finance as well as financial analysts, portfolio managers, investors and other professionals in the field. Offers a concise, efficient, "finance-centric" alternative to traditional real estate finance texts Website gives readers the tools to find current information about their own areas of specialization—a unique approach not found in other real estate finance textbooks Gives students and professors the material to examine every subject in broad and highly detailed terms

Handbook of Mortgage Backed Securities

Handbook of Mortgage Backed Securities Book
Author : Frank J. Fabozzi
Publisher : McGraw Hill Professional
Release : 2001-05-14
ISBN : 9780071663236
Language : En, Es, Fr & De

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Book Description :

The definitive guide to mortgage-backed securities --now revised and updated The classic -- and single best -- resource for understanding and trading mortgage-backed securities has been brought fully up to date with The Handbook of Mortgage-Backed Securities, Fifth Edition, giving you timely insights into everything from fundamentals to investment characteristics of mortgage-backed securities, as well as state-of-the-art strategies for capitalizing on opportunities. The Handbook’s seven sections bring you up to speed on mortgages and pass-through securities; stripped mortgage-backed securities and collateralized mortgage obligations; credit-sensitive mortgage-backed securities; prepayment modeling; valuation techniques, relative value analysis, and portfolio strategies; commercial mortgage-backed securities; and non-U.S. mortgage-backed securities. This edition is more than just a revised edition – it’s practically a new book: twenty-nine of the chapters are either new or have been substantially revised, reflecting the most recent developments in the mortgage-backed securities market, in terms of both product development and financial technology. These entirely new sections give you a seamless transition into the 24-hour, global financial markets of the 21st century.

The Financial Crisis Inquiry Report

The Financial Crisis Inquiry Report Book
Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
Release : 2011-05-01
ISBN : 1616405414
Language : En, Es, Fr & De

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Book Description :

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

The Securitization Markets Handbook

The Securitization Markets Handbook Book
Author : Charles Austin Stone,Anne Zissu
Publisher : John Wiley & Sons
Release : 2012-08-21
ISBN : 1118233034
Language : En, Es, Fr & De

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Book Description :

A comprehensive guide to the continuously evolving world ofsecuritization The Second Edition of The Securitization MarketsHandbook is a valuable resource for both experienced moneymanagers trying to put a securitization strategy into place as wellas newcomers looking to acquire a broad and strong foundation inthis discipline. This edition takes a close look at the pre- andpost-crash mortgage market and the mortgage-backed securities basedon those mortgages, as well as other asset-backed securitiesincluding commercial paper or credit cards. The crash of the subprime market and the failure of theasset-backed markets offer an opportunity to learn about bankingfinance, specifically off-balance sheet finance, and the manycostly mistakes that resulted in one of the most severe downturnsin financial markets. With this book, you'll discover why certainmortgage and asset-backed securities imploded and others didn't.This new edition examines why the market failed and how the nextcrisis can be averted or made less severe. It also explains whysecuritization remains a primary source of capital for the mortgagemarket, credit card market, home equity market, auto loan market,and segments of the commercial paper market. Offers an informed overview of how the securitization marketworks, how to make money in it, and what's next for asset- andmortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history ofthe growth and crash of the subprime market, asset-backedsecurities, and home equity lines of credit Written by securitization experts Charles Stone and AnneZissu Updated to reflect the current market environment, the SecondEdition of The Securitization Markets Handbook offersclear, comprehensive guidance to these complex markets.