Edited by: Frank J. Fabozzi, Chuck Ramsey, Michael Marz Table of Contents: 1. The Nonagency Mortgage Market: Background and Overview (Eric Bruskin and David Sykes); 2. Nonagency Small-Balance Loans (Howard Esaki, Steven Abrahams, and Robert Restrick); 3. Structural Nuances in Nonagency Mortgage-Backed Securities (Peter Rubinstein); 4. A Risk Return Framework for Evaluating Non-Investment Grade Subordinated Mortgage-Backed Securities (Laurie Goodman and Linda Lowell); 5. Understanding Shifting Interest Subordination (Clancy Manus and Michael Constantino); 6. Accounting for Whole Loans and Securitized Products by Investors (Cathy Hansen); 7. The Default and Loss Experience of Nonagency MBS (Thomas Gillis); 8. The Rating Agencies' Approach (Douglas Bendt, Chuck Ramsey, and Frank Fabozzi); 9. Securitization of B&C Quality Loans (Andrew Jones and Jennifer Schneider); 10. Evaluating Subordinate Mortgage-Backed Securities (Mary Sue Lundy and Kenneth Higgins); 11. Evaulating Residential Subordinated Tranches (John Dunlevy and Michael Radocy); 12. A Credit Sensitive Approach to Analyzing the Subordinate Classes of Whole-Loan CMOS (Edward Toy); 13. Prepayment Analysis of Nonagency Mortgage-Backed Securities (Douglas Bendt, Chuck Ramsey, and Frank Fabozzi); 14. Prepayments of Non-Standard Whole-Loan Mortgage Securities (Dale Westhoff, Bruce Kramer, and John Miller); 15. Data Processing and the Modeling of Whole Loans (Yizhong Fan and Pete Rogers); 16. Prepayment Modeling and Valuation of Home Equity Loan Securities (Dale Westhoff and Mark Feldman); 17. Manufactured Housing: Overview, Securitization, and Prepayments (Howard Esaki, Steven Abrahams, and Robert Restrick); 18. Identifying Relative Value ?Œin HEL and Manufactured Housing Securities Using OAS Analysis (Akiva Dickstein); 19. Analysis of Manufactured Housing-Backed Securities (John Dunlevy and Andrew Shook); 20. Introduction to Commercial Mortgage-Backed Securities (Joseph DeMichele and William Adams); 21. Rating of Commercial Mortgage-Backed Securities (Joseph Franzetti); 22. Commercial Mortgage Default Rates and Losses (Pamela Dillon and Donald Belanger); 23. Structural Considerations Impacting CMBS (John Dunlevy); 24. Understanding Prepayments in CMBS Deals (Da Cheng, Adrian Cooper, and Jason Huang); 25. Commercial Mortgage Prepayments (Jesse Abraham and Scott Theobald); 26. The Valuation of Multifamily Mortgage Loans and Securities (Michael Youngblood); 27. Understanding and Managing the Balloon Risk of Commercial Mortgages in CMBS (David Jacob and Peter Fastovsky); 28. Single Family Mortgage Revenue Bonds (Michael Marz and Frank Fabozzi) About the editors: Frank J. Fabozzi is a financial consultant, the editor of the Journal of Portfolio Management, and an Adjunct Professor of Finance at Yale University's School of Management. Chuck Ramsey is the Chief Executive Officer of Mortgage Risk Assessment Corporation. Frank Ramirez is a Managing Director of Structured Capital Management. Michael Marz is Vice Chairman of First Southwest Company. 498 Pages |
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