Basics of Mortgage-Backed Securities, 2nd Edition
Dr. James Hu discusses the major changes within the mortgage market that may affect the fundamentals of mortgage securities. Some of these are: the recovery of the REMIC market after its collapse; the flourish of private-label securities; the growth of equity loan-backed securities and its establishment as a member of the fixed-income securities family. Also included are additional historical data for all exhibits. Mortgage pre-payment, dollar rolls, and private-label mortgage-backed securities are also addressed.
1. Residential Mortgages.
2. The U.S. Residential Mortgage Market.
3. Mortgage Pass-Through Securities.
4. Mortgage Prepayment.
5. Basic Mortgage Math.
6. Adjustable-Rate Mortgages and Mortgage Pass-Throughs.
7. Multiclass Mortgage Pass-Throughs.
8. Private-Label Mortgage-Backed Securities.
9. Home Equity Loan-Backed Securities.
10. Analysis of Dollar Rolls.
11. Relative Value Analysis of Mortgage Securities.
12. Performance of Mortgage Securities.