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V. 8:13 (498-499): Quick Scans: MORTGAGE-BACKED SECURITIES: PRODUCTS, ANALYSIS, TRADING

V. 8:13 (498-499): Quick Scans: MORTGAGE-BACKED SECURITIES: PRODUCTS, ANALYSIS, TRADING

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MORTGAGE-BACKED SECURITIES: PRODUCTS, ANALYSIS, TRADING

New York Institute of Finance

70 Pine Street

New York, NY 10270-0003

(201) 767-5937

Author: William W. Bartlett, 1989

Price: $ 49.95

Mortgage-backed securities (MBS) have taken over as one of the primary focuses for portfolio managers as instruments by which to increase yield. Whenever there is an increase in yield (compared with a U.S. Treasury bond), however, there will be an additional assumption of risk, and MBS have both. A thorough understanding of the characteristics of mortgage-backed securities and the derivative products that Wall Street has conjured up is mandatory. This book is a very readable guide to understanding these securities.

The first section is a historical review of the mortgage market and an overview of the types of loans that make up the underlying collateral for MBS. This is followed by a discussion of the performance of mortgages compared with other fixed-income securities and the mortgage banking business and concludes with the outlook for the trends of the mortgage market.
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