Title
Mortgage Valuation Models: Embedded Options, Risk, And Uncertainty (Financial Management Association Survey And Synthesis)
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Mortgagebacked Securities (Mbs) Are Among The Most Complex Of All Financial Instruments. Analysis Of Mbs Requires Blending Empirical Analysis Of Borrower Behavior With The Mathematical Modeling Of Interest Rates And Home Prices. Over The Past 25 Years, Andrew Davidson And Alexander Levin Have Been At The Leading Edge Of Mbs Valuation And Risk Analysis.Mortgage Valuation Models: Embedded Options, Risk, And Uncertainty Contains A Detailed Description Of The Sophisticated Theories And Advanced Methods That The Authors Employ In Realworld Analyses Of Mortgagebacked Securities. Issues Such As Complexity, Borrower Options, Uncertainty, And Model Risk Play A Central Role In The Authors' Approach To The Valuation Of Mbs. The Coverage Spans The Range Of Mortgage Products From Loans And Tba (Tobeannounced) Passthrough Securities To Subordinate Tranches Of Subprimemortgage Securitizations. With Reference To The Classical Capm And Apt, The Book Advocates Extending The Concept Of Riskneutrality To Modeling Home Prices And Borrower Options, Well Beyond Interest Rates. It Describes Valuation Methods For Both Agency And Nonagency Mbs Including Pricing New Loans; Approaches To Prudent Risk Measurement, Ranking, And Decomposition; And Methods For Modeling Prepayments And Defaults Of Borrowers.The Authors Also Reveal Quantitative Causes Of The 200709 Financial Crisis And Provide Insight Into The Future Of The U.S. Housing Finance System And Mortgage Modeling As This Field Continues To Evolve. This Book Will Serve As A Foundation For The Future Development Of Models For Mortgagebacked Securities.
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Shipping
We ship your order within 2–3 business days for USA deliveries and 5–8 business days for international shipments. Once your package has been dispatched from our warehouse, you'll receive an email confirmation with a tracking number, allowing you to track the status of your delivery.
Returns
To facilitate a smooth return process, a Return Authorization (RA) Number is required for all returns. Returns without a valid RA number will be declined and may incur additional fees. You can request an RA number within 15 days of the original delivery date. For more details, please refer to our Return & Refund Policy page.
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Warranty
We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main focus of 'Mortgage Valuation Models: Embedded Options, Risk, and Uncertainty'? A: The book primarily focuses on the valuation and risk analysis of mortgage-backed securities (MBS), incorporating complex theories and advanced methods related to borrower behavior and the mathematical modeling of interest rates and home prices.
- Q: Who are the authors of this book? A: The authors are Andrew Davidson and Alexander Levin, who have significant expertise in MBS valuation and risk analysis.
- Q: What topics are covered in this book? A: Topics include borrower options, uncertainty, model risk, pricing new loans, risk measurement, and modeling borrower prepayments and defaults, as well as insights into the 2007-09 financial crisis and future housing finance systems.
- Q: Is this book suitable for beginners in finance? A: While the book contains valuable insights, it is best suited for readers with a foundational understanding of finance, as it delves into complex theories and advanced valuation methods.
- Q: How many pages does the book contain? A: The book contains 464 pages.
- Q: What is the binding type of this book? A: The book is available in hardcover binding, which is durable and suitable for extensive use.
- Q: When was this book published? A: The book was published on June 19, 2014.
- Q: Does this book include real-world examples? A: Yes, the authors provide real-world analyses and examples related to mortgage-backed securities to illustrate the sophisticated theories and methods discussed.
- Q: What edition of the book is available? A: This book is currently in its first edition.
- Q: What category does this book fall under? A: The book falls under the category of Economic Conditions.