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by Joseph Hu

  • ISBN: 188324921X
  • Category: Money & Business
  • Author: Joseph Hu
  • Subcategory: Economics
  • Other formats: doc docx txt lit
  • Language: English
  • Publisher: McGraw-Hill (1997)
  • Pages: 144 pages
  • FB2 size: 1506 kb
  • EPUB size: 1479 kb
  • Rating: 4.9
  • Votes: 612
Download Basics of Mortgage-Backed Securities fb2

Mortgage-backed securities continue to be one of the most exciting . This book is good for the basics, on agencies.

Mortgage-backed securities continue to be one of the most exciting, fastest-growing sector of the fixed income market. because there is a palpable sense of incompletion.

The purpose of Basics of Mortgage-Backed Securities is to provide readers with a fundamental understanding of mortgage securities as an integral part of investment in fixed-income securities.

A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages.

A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages

Basics of Mortgage-Backed Securities Joseph Hu Wiley 9781883249878 .

Basics of Mortgage-Backed Securities Joseph Hu Wiley 9781883249878 : The purpose of Basics of Mortgage-Backed Securities is to provide readers with a fundamental understanding of mortgage secu. Mortgage pre-payment, dollar rolls, and private-label mortgage-backed securities are also addressed. ООО "Логосфера " Тел:+7(495) 980-12-10 ww. ogobook.

Basics of Mortgage-Backed Securities book.

Joseph Chi-Fing Hu, American mortgage securities analyst. Basics Of Mortgage-Backed Securities More photos. Basics of Mortgage-Backed Securities. This text is a concise guide to the types of securities,. This text is a concise guide to the types of securities, valuation, analysis and overview of the mortgage-backed securities market. 4921X/?tag prabook0b-20. Basics of Mortgage-Backed Securities ) Basics Of Mortgage-Backed Securities.

Dr. Hu is also the author of Basics of Mortgage-Backed Securities.

An analysis of mortgage finance will be provided in Part II, which consists of six chapters that cover a variety of topics from the description of many different types of residential mortgages to the securitization of different types of residential mortgages, including the now infamous sub-prime mortgages. Dr.

Mortgage backed securities, which include Ginnie Mae Securities (GNMA) and Collateralized Debt Instruments (CDO), are among the most complex securities in the fixed income asset class. Vanguard provides a basic description of mortgage backed securities in the prospectus to its bond funds: Mortgage-backed securities represent interests in underlying pools of mortgages. Joseph C. Hu is professor of the International MBA Program at the National Chengchi University, Republic of China (Taiwan) and visiting professor at Hanqing Advanced Institute of Economics and Finance, Renmin University of China, People's Republic of China. Hu was formerly Standard & Poor's China country manager.

Written by a respected Wall Street director of mortgage research, this is a concise yet professional overview of the mortgage-backed securities market. It clearly and straightforwardly covers all major mortgage-backed investment vehicles, as well as key valuation and performance issues.
Reviews about Basics of Mortgage-Backed Securities (4):
Vaua
Hu's book is an excellent primer on mortgage-backed securities from both the supply and demand sides. While I must confess I was quickly swamped by the math (through no fault of Dr. Hu's, perhaps a workshop would have been a better way for me to learn about WACs and WAMs) I got the gist of the material.

Although the publication date is 2001, most of the examples and graphs are as of the mid-90s. It would be great to see a 3rd edition, especially discussing the more exotic mortgage instruments that have come on the market.
Grarana
This is the best introduction, giving a brief yet broad coverage to an important market. In just 144 pages Hu covers the the important points. The Mortgage Backed Security market, at over 2 trillion dollars, will soon exceed the US treasury market as the largest and most liquid bond market. Nevertheless, this market is still viewed as highly specialized due to the complications in security structure and prepayment optionality. Hu explains these complications clearly giving the reader confidence to enter this market.
Vizuru
Anyone interested in learning the basics of MBS will benefit from this book.

Author Dr. Joseph Hu does a fine job of examining the following topics in 12 chapters: residential mortgages, US residential mortgage market, pass-throughs, prepayment, basic mortgage math, ARMs, multiclass pass-throughs, private labels, HELOC-backed securities, dollar rolls, relative value analysis and historical performance of MBS.

Some data is dated (1990's). Then again, the book has a 2001 copyright. Nevertheless, the fundamental concepts of MBS are comfortably examined in 168 pages.

Hu did a fine job elaborating on mortgage prepayment and the primary reasons for it (refinancing and housing turnover). I also benefited from Chapter 7's focus on multi-class pass throughs, where CMOs, PACs, Floaters, IOs and POs are briefly discussed.

There are more illustrative graphs than confusing formulas in this book. All in all, I found "Basics of Mortgage-Backed Securities" to be quite readable. Overall, I give this book a 3 1/2 star rating. Readers interested in getting much more detail about MBS should consider "Salomon Smith Barneys Guide to Mortgage Backed and Asset Backed Securities" (Hayre).
Thetath
This book was a great introduction to the basics of mortgage-backed securities, exactly as the title professes. It is loaded with graphs and tables to help readers understand the quantitative sections.

If you really want to understand this subject though, read Fabozzi and Modigliani's "Mortgage and Mortgage-Backed Securities Markets" as well as (or even in lieu of) this book. It dates back to the 80s, but together with this book you will have a firm grasp of the fundamentals, and you can easily understand recent developments.

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