Mortgage-Backed Securities: Products, Structuring, and Analytical Techniques

by Frank J. Fabozzi, Anand K. Bhattacharya, William S. Berliner

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.

Genres: Finance, Nonfiction

336 pages, Hardcover

First published July 9, 2007

About the author

Frank J. Fabozzi is a Professor in the Practice of Finance and Becton Fellow in the Yale School of Management. He is well known as the author of numerous books on finance, both practitioner-focused and academic. Professor Frank J. Fabozzi will be joining Edhec Risk Institute on August 1, 2011. EDHEC-Risk Institute is part of EDHEC Business School, one of Europe’s leading business schools.

Reviews

[Qubitng · Rating 3 out of 5]

Very basic information and outdated due to the crash of 2008 and subsequent reforms. The math content is at a high school level.

[Sara · Rating 2 out of 5]

As a former portfolio management analyst for a fixed income portfolio specializing in mortgages, I wish I had read this book when I actually had a fixed income portfolio specializing in mortgages to analyze. As it is, it was still interesting to read through.

Hard to review a book like this, especially as I'm not purchasing bonds for a corporation but there was good info in it.