Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities (Wiley Finance)

Mortgage-backed and asset-backed securities are fixed-income securities, like Salomon Smith Barney Guide to Mortgage-Backed and Asset-B and . Investing in Mortgage-Backed and Asset-Backed Securities, Website: Financial Modeling with. + . Hardcover: pages; Publisher: Wiley; 1 edition (April 23, ).
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The Intelligent Investor Benjamin Graham. The Dhandho Investor Mohnish Pabrai. Flash Boys Michael Lewis. Trend Following Michael W. Market Wizards Jack D. Value Investing Michael Van Biema. Intelligent Investor Benjamin Graham. The Quants Scott Patterson. Machine Trading Ernest P. Fooled by Randomness Nassim Nicholas Taleb.

The Alchemy of Finance George Soros. King Of Capital David Carey.

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Beating the Street Peter Lynch. The Growth Mindset Rick Capozzi. The Psychology of Trading Brett N. Irrational Exuberance Robert J. Quality Investing Lawrence A.


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Take on the Street Arthur Levitt. Understanding Options 2E Michael Sincere. From the Inside Flap Mortgage-backed securities MBSs and asset-backed securities ABSs are the largest sector of today's bond market, with billionsof dollars of securities traded every day. Look to this guide for information on topicsincluding: Wiley; 1 edition April 23, Language: Related Video Shorts 0 Upload your video. Deep Learning By Example: A hands-on guide to implementing advanced machine learnin Try the Kindle edition and experience these great reading features: Share your thoughts with other customers.

Write a customer review. There was a problem filtering reviews right now. Please try again later. By covering topics of great practical importance in the mortgage industry, both from the standpoint of mortgage-backed securities and from the mortgage origination process, this handbook should be helpful to those entering the field of fixed income securities and those who are seasoned veterans.

The authors of the different articles emphasize the applied and practical aspects of the subject, and so no heavy guns from mathematics are brought in as they could be in the discussions on term structure models and option-adjusted spreads , but even those readers interested in these tools from mathematics could view the handbook as an introduction to the key ideas used.

In this regard the part of the handbook on prepayment analysis and modeling will be of great interest to those responsible for financial modeling, as will the part on option-adjusted spreads and durations.

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Readers will probably not read the handbook from cover to cover, but instead will select those articles that they have the greatest interest in. The handbook can be consulted as needed and compared with other more current literature on the topics discussed. Financial revolutions are not as common as revolutions in other fields, due to the conservative nature of financiers and venture capitalists, but when they happen they do so with a vengeance. The mortgage industry is currently undergoing such a revolution, due not only to the innovations that are occurring in mortgage-lending but also to the willingness of homeowners to cash in on their equity.

In addition, techniques from artificial intelligence usually called "smart automation" in the mortgage industry are being used to automate the loan origination process, particularly that of underwriting and estimation of borrower credit-worthiness.

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The mortgage loan origination process can now be tuned to the profile of the individual applicant and parameters such as interest rates, to produce a loan that is structured optimally for this applicant. In addition, the sheer number of regulations that must be complied with, both from municipal, state, and federal agencies can be daunting to financial and mortgage firms. But there are now technologies that have automated compliance. All of these developments are dependent on the concepts discussed in this handbook, along with others of course that are not included in it.

No doubt as the mortgage revolution reaches maturity, this handbook will have to be rewritten, and might indeed include concepts that at the present time seem extremely radical or even alien, much as the current ones would have just two decades ago.


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    • It covers almost everything basic in the Mortgage Backed Security. However it has not been updated for more than ten years.

    Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities - Google Книги

    But it is a Good book. If you are a professional working on ABS and you want to have a handy collection of the client reports that were distributed by Salomon Smith Barney now Citigroup , well this book might be very useful for you. The book covers a large breadth of topics and generally they are written quite well.

    But putting together pages of reports written by different authors doesn't make it an organized book. Most of the chapters are neither a logical consequence of the previous one nor self contained, and they require you to be already familiar with the terminology. Furthermore, this book lacks examples of implementation details, and the mathematics involved doesn't go beyond the very basic.

    For example, you won't get much detail on how to structure a CMO or how to calibrate a prepayment model. If you don't already know ABS and want to learn the details of securitization I advise you to consider the book of Stone and Zissu. The Best Prepayment book. He is a recognized expert on the market, has published numerous articles on the topic, and is a former Chairman of the Mortgage Research Committee of the Bond Market Association. He has a doctorate in mathematical statistics from Oxford University, and was a Professor of Statistics at the Wharton School, University of Pennsylvania, before coming to Wall Street in the mids.

    Permissions Request permission to reuse content from this site. Table of contents Introduction. Random Error in Prepayment Projections. The Mortgage Origination Process.