Collateralized Mortgage Obligations

Collateralized Mortgage Obligations

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Financial experts Chuck Ramsey and Frank Ramirez join Frank Fabozzi for the third edition of Collateralized Mortgage Obligations: Structure a Analysis. Because of the complexity and the risk associated with CMOs, portfolio managers need specific keys to understand and unlock the potential of these unique investment tools. Fabozzi and company provide this understanding with detailed explanations of all aspects of CMOs, including factors affecting prepayment behavior; whole loan CMO structures; and accounting for CMO investments. Filled with relevant examples and in-depth discussions, Collateralized Mortgage Obligations: Structure a Analysis sheds light on this somewhat controversial and highly technical subject-which is one of the fastest-growing sectors of the fixed-income securities market.In an open-end home equity loan, the lender provides a line of credit and the borrower takes down the line as needed. In nonagency CMOs. ... To verify the PTI , documents to verify income (e.g.. pay stubs or tax returns) and employment are needed, as well as a credit report. To verify the LTV. a ... failing to conform. There are originators who will provide a loan based on no documentation (aquot;no-doc loan aquot;)anbsp;...

Title:Collateralized Mortgage Obligations
Author:Frank J. Fabozzi, CFA, Chuck Ramsey
Publisher:John Wiley & Sons - 1999-07-15


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