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- Mortgage-Backed Securities
- A mortgage-backed security MBS is a security that is based on a pool of underlying mortgages. MBS are usually based on mortgages that are guaranteed by a government agency for payment of principal and a guarantee of timely payment. The analysis of MBS concentrates on the nature of the underlying...
- White papers
- VAR for Mortgage Backed Securities
- Value at Risk VaR is a mathematical approach for estimating the maximum potential loss of a given portfolio within some field of time with some likelihood of occurrence. Monte Carlo Simulation calculates the potential portfolio loss using market scenarios that were created from historic volatility and correlation estimates. As correlation...
- White papers 2003-01-01
- CMOs, Duration Risk and a New Mortgage
- This article presents an alternative mortgage that retains the fixed-rate feature of a fixed-rate mortgage FRM, but accelerates the principal amortization when interest rates rise, exposing the buyer to less duration risk in a rising interest rate environment. This mortgage, labeled the adjustable amortization mortgage AAM, is shown to have...
- White papers 2000-01-01
- Commercial Mortgage-backed Securities: Prepayment and Default
- One of the major developments in real estate finance during the 1990s was the emergence of a viable market for commercial mortgage backed securities. The growth in this market has spurred greater interest in empirical and theoretical research on commercial mortgage default and prepayment. The article employs a competing risks...
- White papers 2002-02-19
- The Commercial Mortgage Backed Securities Market Flourishes as Supply Tops $130 Billion
- This article discusses the commercial mortgage market and its perspective. Issuance in the commercial mortgage backed securities CMBS market continued to show strength in the first quarter of 1997, with total volume of $6.2 billion in the period. Although issuance is slightly off from the $7.1 billion issued in the...
- White papers 2004-06-23
- Mortgage Backed Securities
- This tutorial summarizes and gives information about Mortgage Backed Securities. Mortgage Backed Securities are an undiscovered gem. While these securities are primarily used to provide safe income there is also the opportunity to get some capital appreciation as interest rates fall. Principal and interest from the individual mortgages are used...
- White papers
- Parameter Stability and the Valuation of Mortgages and Mortgage-Backed Securities
- The paper examines the effect of parameter instability on the valuation of mortgages and mortgage-backed securities. In particular, the paper prices 1997 issue mortgages subject to the 1998 bond market rally events assuming an empirically derived prepayment model constructed on data reflecting the 1993 experience and compares results to those...
- White papers 2002-06-01
- Commercial Mortgage Backed Securities
- This article provides insight into commercial mortgage backed securities CMBS. CMBS are bonds that have been collateralized by a pool of commercial real estate mortgages. All of the principal and interest from the mortgages flow to bondholders over the life of the bonds. Typically CMBS trusts range in size from...
- White papers 2004-10-26
- Webster Financial Corporation Q4 2008 Earnings Call Transcript
- Question-and-Answer SessionOperator Thank you. Ladies and gentlemen, we will now be conducting a question-and-answer session. Operator instructions Our first question is coming from Ken Zerbe with Morgan Stanley. Please state your question. Ken Zerbe – Morgan Stanley Good morning. James Smith Good morning. Ken Zerbe – Morgan Stanley I...
- Earnings calls 2009-01-23
- Had Enough of This Economic Crisis Yet?
- I don't know about you, but I've had about enough of this economic crisis. Just today's news along is enough to make me want to hang myself. What do you do to get by? by Steve Tobak
- Blog posts 2008-12-09
- Ailing Commercial Mortgage Securities Deepen CRE Woes
- The market for commercial mortgage-backed securities is in a funk, adding to problems for banks and investors by Alain Sherter
- Blog posts 2009-10-09
Additional Resources
- Health Care Reform: What It Will Cost You
- Despite what you've heard, it won't be only rich people and "inefficiencies" footing the bill. One way or another, whoever you are, you'll share the costs. Here's how. ...
- Articles 2009-08-10
- Business Objects Q3 2007 Earnings Call Transcript
- Question-and-Answer SessionOperator [Operator Instructions] Your first question comes from the line of Mohammed Moawalla with Goldman Sachs. Mohammed Moawalla – Goldman Sachs Yes good morning. John, can you elaborate a little bit around some of the weakness in the quarter and just indicate whether some of...
- Earnings calls 2007-10-24
- Is the end of the credit crunch finally in sight?
- This week marks the second anniversary of the beginning of the most traumatic global financial crisis in living memory, a crash that has brought banks to their knees, triggered the deepest recession since the 1930s and stretched the finances of some families to breaking point. August 9, 2007, will go...
- News items 2009-08-14
- Renegotiation in the Common Law Mortgage and the Impact of Equitable Redemption
- This paper seeks to fill a gap in the real estate finance literature by linking the well-known history of the Anglo-American mortgage recorded by legal scholars with the recent literature on security design and incomplete contracting in order to explain and evaluate several unique features of the mortgage. In particular,...
- White papers 2004-11-01
- Fitch Rates Florida HFC's $20.02MM Mortgage Revenue Bonds 'A'
- Business Editors NEW YORK--BUSINESS WIRE--Feb. 18, 2003 Fitch Ratings assigns a rating of 'A' to Florida Housing Finance Corp.'s FHFC $19.57 million multifamily mortgage revenue bonds, 2003 series D-1 Portofino Apartments, and $450,000 taxable multifamily mortgage revenue bonds, 2003 series D-2 Portofino Apartments. The bonds, scheduled to sell...
- Research articles 2003-02-18
- Five Jobs for Lousy Times and No Talent Necessary
- CNNMoney recently came out with its list of the "50 Best Jobs in America." The list assemblers ranked jobs based on personal satisfaction, job security, future growth, benefit to society, stress -- and presumably pay, since, after all, it's CNNMoney, not CNNSelf-gratification. The...
- Blog posts 2009-10-22
- Personal Finance: Don't get `fixed' ideas
- FIXED-RATE mortgages offer security - but at what cost? With signs from the Bank of England that interest rates are on their way down, homeowners freezing their mortgage rates could miss out on years of cheaper repayments. How low are UK interest rates likely to go? Members...
- Research articles 2001-04-21
- Kohler on the Crisis | BTalk Australia
- (21min 39) On today’s BTalk Australia Phil Dobbie talks to Alan Kohler, Editor-in-Chief of Business Spectator, about the credit crisis. How did it happen? What part did Freddie Mac and Fannie Mae play? Why was the collapse of Lehman Brothers so significant? What will happen next and what, if anything,...
- Blog posts 2008-12-11
- Iceland shows the dangers ahead for us all
- In the build-up to the global crisis of 2008, tiny Iceland was a canary in the mine, a leading indicator of wider vulnerabilities. Now, amid growing optimism about global recovery, Iceland may again be a leading indicator of trouble ahead. In the space of a few days last October Iceland's...
- News items 2009-08-26
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