Investing in mortgage securities

Bibliographic Information

Investing in mortgage securities

Laurence G. Taff

St. Lucie Press, c2003

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Note

Includes bibliographical references (p. 307) and index

Description and Table of Contents

Description

Providing the expertise of an internal business consultant to one of the largest issuers of mortgage securities, Investing in Mortgage Securities serves as a high-level introduction to mortgage securities presented within the framework of fixed income securities. It presents institutional investors, portfolio managers, traders, and sophisticated individual investors with a clear, concise, and unified approach to valuing, pricing, and investing in mortgage securities. The author supplies a complete explanation of all types of mortgages and fixed income securities and highlights the differences between bonds, mortgages, and mortgage derivatives. The text walks you through all the necessary steps, including worked out mathematical examples, to ensure that you make the best buy and sell decisions possible. It also contains exercises to help you test your knowledge before making significant investment decisions.

Table of Contents

Capital markets overview. Basic valuation problems of financial transactions. Details on a variety of fixed-income securities. Understanding how to value a bond. Single family mortgages. Adjustable-rate mortgages (ARMs). Simple mortgage-related derivatives. Complex mortgage-related derivatives. Trying to model interest rates. Early principle retirement. Flexible interest rate risk management. Management of a portfolio of fixed-income investments. Brief overview of other mortgage products and markets.

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