|
|
Usually ships within 1 to 3 working days
|
- Product code: 15957
- ISBN: 0471022608,
ISBN13: 9780471022602,
576 pages, hardback
Published by John Wiley & Sons Inc on 2003
Rate this book...
Rating: 0.0/5 (0 votes cast)
|
|
|
|
|
Description of Securitization |
'This book fills a very important gap in the mindset of the bond structurer and the investor. Often, the two disciplines approach their tasks ignorant of the perspectives of the other side. But successful structuring requires providing the best value to investors in order to compete, and investors who don't fully understand structuring will not remain investors for long. Highly recommended' - Bennett W. Golub Managing Director, BlackRock, Inc. 'An excellent primer on asset securitization, clearly written in plain English and with straightforward mathematical expressions. This book is suitable for both business school students and structured finance market practitioners' - Joseph Hu, PhD Managing Director, Structured Finance Ratings Standard & Poor's.'In their new work "Securitization: Structuring and Investment Analysis", Andrew Davidson et al. reinforce their preeminence in the alchemy of mortgage securitization. Anyone involved in mortgages neglects Andy's work at his peril' - Richard T. Pratt Chairman, Richard T. Pratt Associates Former Chairman, Merrill Lynch Mortgage Corporation. 'This book provides an insightful and accessible exploration of securitized real estate markets.
As such, it provides a valuable service to those active and interested in these burgeoning markets. The authors have done a wonderful job of gracefully integrating a vast and important subject matter. Accordingly, this book also makes for an excellent textbook for those universities offering one or more courses in this rapidly growing field' - Joseph L. Pagliari, Jr. Kellogg School of Management Northwestern University.
|
Contents of Securitization |
PART I: INTRODUCTION TO SECURITIZATION
The Role of Securitization
Fundamentals of Structuring
Fundamentals of Investment Analysis
Historical Performance of Asset-Backed Securities and Mortgage-Backed Securities
PART II: AGENCY MORTGAGE BACKED SECURITIES
Mortgage Loans
Agency Passthroughs
Fundamentals of the Interest Rate Market
Static Analysis for Mortgage Passthrough Securities
MBS Prepayments
Total Return Scenario Analysis
PART III: ADVANCED MBS AND ANALYSIS
Structuring CMOs, IOs, and POs
Interest-Rate Volatility, Options and Models
Option-Adjusted Spread
Comparing Investment Alternatives
PART IV: NON-AGENCY MBS AND ANALYZING CREDIT RISK
Non-Agency Mortgage Backed Securities
Collateral Performance
Home Equity and Sub-Prime Loans
Analysis of Credit ensitive MBS
PART V: ASSET-BACKED SECURITIES
Auto Loan ABS
Credit Card ABS
Manufactured Housing ABS
PART VI: COMMERCIAL MORTGAGE
Commercial Loans
Commercial Mortgage Backed Securities
The Role of Real Estate Investment Trusts (REITs)
PART VII: EUROPEAN SECURITIZATION MARKET
Development of a Market
European Residential Mortgages
European Securitization Legislation
Structuring ABS in Europe
Bibliography
|
About Andrew Davidson, Anthony Sanders and Lan-Ling Wolff |
ANDREW DAVIDSON, one of the most well-respected names in mortgage-backed securities and securitization, is President and founder of Andrew Davidson & Co., Inc., a New York - based consulting firm specializing in the application of analytical tools to investment management. The company provides consulting advice to many of the major firms in the securitization business. It is also a leading provider of prepayment and valuation models for MBS and ABS. Prior to forming the company in 1992, Davidson was a managing director at Merrill Lynch responsible for MBS, CMO, ABS, and Futures and Options Research. ANTHONY SANDERS is the Galbreath Distinguished Scholar and Professor of Finance at The Ohio State University. During 1997 and 1998, he was director and head of asset-backed and mortgage-backed securities research at Deutsche Bank. He has published numerous articles in journals such as the Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Business, and Journal of Fixed Income. LAN-LING WOLFF heads Fredell & Co. Structured Finance Ltd. in London, which specializes in providing structuring and arranging services for asset-backed securities all over Europe. Wolff's background in the U.S. mortgage-backed securities market and understanding of the European capital markets places her on the cutting edge of securitization globally. She specializes in residential mortgages and mortgage banking. ANNE CHING, a senior consultant at Andrew Davidson & Co., Inc., has worked in the credit risk and investment analysis of sub-prime residential and manufactured housing sectors. She has also worked on the structuring of non-U.S. mortgage-backed securities. The authors drew on the expertise of Andrew Davidson & Co., Inc., in preparing Securitization. The broad range of expertise of the firm's consultants, and the technical and analytical skills of the firm's analysts, provide a rich background that gives Securitization strong theoretical underpinnings, as well as a grounding in practical application of the theory and methods described in the book. Two associates from outside the firm, with additional specialized expertise, were enlisted as well.
|
Buyers of Securitization also bought
Other books by Andrew Davidson
Bulk buying
| If you need bulk copies of Securitization, or are interested in opening a corporate account, please contact us. |
|
|
Shopping basket