An up-to-date look at the latest innovations in mortgage-backed
Since the last edition of "Mortgage-Backed Securities" was
published over three years ago, much has changed in the structured
credit market. Frank Fabozzi, Anand Bhattacharya, and William
Berliner all have many years of experience working in the
fixed-income securitization markets, and have witnessed many cycles
of change in the mortgage and MBS sectors. And now, with the Second
Edition of Mortgage-Backed Securities, they share their knowledge
on many of the products and structuring innovations that have taken
place since the financial crisis and fiscal reform.
Written in a straightforward and accessible style, and
containing numerous illustrations, this timely guide skillfully
addresses the investment characteristics, creation, and analysis of
mortgage-backed securities. Each chapter contains cutting-edge
concepts that you'll need to understand in order to thrive within
this arena.Discusses the dynamic interaction between the mortgage
industry, home prices, and credit performanceAddresses revised
valuation techniques in which all non-agency MBS must be treated as
credit piecesExamines the shift in this marketplace since the
crisis and the impact on industry and investors
Filled with in-depth insights and expert advice,
"Mortgage-Backed Securities, Second Edition" offers you a realistic
assessment of this field and outlines the products, structures, and
analytical techniques you need to know about in this evolving
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