Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities

Mortgage-backed and asset-backed securities are fixed-income securities, like bonds, which derive their return from an underlying mortgage or basket of mortgages, or an asset or basket of assets. Lakhbir Hayre (New York, NY) is a mortgage officer at Salomon Smith Barney, and their leading expert on mortgage-backed and asset-backed securities. Featuring material used by the company, this book is an ideal training tool and resource for investment professionals, institutional investors, pension fund investors, and hedge-fund investors. This market has increased from about $100 billion in 1980 to over $2.5 trillion today. He is a Certified Financial Analyst and a Doctor of Philosophy.. Filling the void for a new book on fixed-income, Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provides a coherent and comprehensive approach to the subject

. He is a recognized expert on the market, has published numerous articles on the topic, and is a former Chairman of the Mortgage Research Committee of the Bond Market Association. Lakhbir Hayre is a Managing Director at Salomon Smith Barney, whose responsibilities include global mortgage- and asset-backed research. He has a doctora

Let the Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provide you with the fundamentals, characteristics, and insights you need to fully understand—and capitalize on opportunities in—today's transformed MBS and ABS marketplace.. Organized sequentially, with self-contained chapters that can be read on their own to eliminate the confusion so often found in other books of its type, this invaluable guide is an ideal training tool and resource for investment professionals, institutional investors, pension funds, hedge funds, and all others looking for clear, concise, and complete treatment of this multifaceted subject. Look to this guide for information on topics including:A general framework for modeling of prepayment rates on residential mortgage loans—critical in estimating security cashflows and investment characteristicsHow th

"Excellent" according to Dr. Lee D. Carlson. By covering topics of great practical importance in the mortgage industry, both from the standpoint of mortgage-backed securities and from the mortgage origination process, this handbook should be helpful to those entering the field of fixed income securities and those who are seasoned veterans. The authors of the different articles emphasize the a. A collection of client reports: a Handbook (simplified), but not a Textbook Matteo Gadioli If you are a professional working on ABS and you want to have a handy collection of the client reports that were distributed by Salomon Smith Barney (now Citigroup), well this book might be very useful for you. The book covers a large breadth of topics and generally they are written quite well. But putting together 700 pages of reports written by d. V. Ghazarian said Hayre is lucid and informative! The Best Prepayment book. As other reviewers have mentioned this is a must for anyone involved with MBS ABS markets. Outstanding discussions on prepayment. Very detailed analysis of MBS ABS structures and related processes. A must for all people working with MBS.Some modeling is hidden and not well explained