Transcription of Mortgage -Backed Securities
{{id}} {{{paragraph}}}
Example: air traffic controller
Mortgage -Backed Securities
Giddy/ABSM ortgage -Backed Securities /1 Mortgage -Backed SecuritiesProf. Ian GiddyStern School of BusinessNew York UniversityAsset -Backed SecuritiesCopyright 1999 Ian H. GiddyMortgage -Backed Securities 3 Mortgages and MBSlMortgage LoanslPass-throughsand PrepaymentslCMOslAnalysis of MBS Pricing and ConvexityGiddy/ABSM ortgage -Backed Securities /2 Copyright 1999 Ian H. GiddyMortgage -Backed Securities 4 Structure of the US MBS MarketMortgage LoanBank ( Mortgage originator) makes a whole loanAncillary: brokers,servicers, insurersMortgage LoanBank ( Mortgage originator) makes a whole loanAncillary: brokers,servicers, insurersMortgage Pass-ThroughFNMA or GMAC (conduit) poolsmortgage loans with similar characteristicsMortgage Pass-ThroughFNMA or GMAC (conduit) poolsmortgage loans with similar characteristicsCMO or REMICT akes a Mortgage pool and makes the cash flows more predictable by assigningpriority of claims to the cash flowsCMO or REMICT akes a Mortgage pool and makes the cash flows more pr
mortgage loans with similar characteristics CMO or REMIC ... (Beginning Principal Balance - Scheduled Principal Repayment)*SMM. Giddy/ABS Mortgage -Backed Securities/ 5 ... with a change in rates (high convexity is desirable) Giddy/ABS Mortgage -Backed Securities/ 10
Loading..
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: