Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download Rational Mortgage Pricing full books in PDF, epub, and Kindle. Read online Rational Mortgage Pricing ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : Michael R. Asay
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (981 download)
Download or read book Rational Mortgage Pricing written by Michael R. Asay and published by . This book was released on 1978 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Patrick Harding
Publisher :
ISBN 13 :
Total Pages : 414 pages
Book Rating : 4.:/5 (33 download)
Download or read book Rational Mortgage Valuation Using Optimal Refinancing Strategies and Heterogeneous Borrowers written by John Patrick Harding and published by . This book was released on 1994 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Ralph Asay
Publisher :
ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (249 download)
Download or read book A Theory of the Rational Pricing of Mortgage Contracts written by Michael Ralph Asay and published by . This book was released on 1977 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John P. Harding
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Rational Mortgage Valuation Using Optimal Intertemporal Refinancing Strategies and Heterogeneous Borrowers written by John P. Harding and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: I develop a rational mortgage valuation model and use the model to estimate parameters describing borrower mobility. The valuation model extends previous work in two ways. First, I calculate the prepayment boundary by solving for the borrower's optimal prepayment strategy over the expected tenure in the house. This optimal strategy is significantly different from the strategy traditionally used in rational mortgage valuation and the resulting mortgage values are higher than values calculated using the traditional approach. Second, I use borrower heterogeneity in terms of expected tenure in the house to overcome two problems typically associated with rational models: all-or-nothing prepayment and a low upper limit on calculated mortgage values. I use the resulting model and observed prepayments to estimate the distribution of expected tenure of borrowers who chose a long-term, fixed-rate mortgage. The empirical results indicate that the average mobility of the group of borrowers choosing fixed-rate loans has declined since the introduction of adjustable-rate mortgages.
Author : Richard Stanton
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Rational Prepayment and the Valuation of Mortgage-Backed Securities written by Richard Stanton and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article presents a new model of mortgage prepayments, based on rational decisions by mortgage holders. These mortgage holders face heterogeneous transaction costs, which are explicitly modeled. The model is estimated using a version of Hansen's (1982) generalized method of moments, and shown to capture many of the empirical features of mortgage prepayment. Estimation results indicate that mortgage holders act as though they face transaction costs that far exceed the explicit costs usually incurred on refinancing. They also wait an average of more than a year before refinancing, even when it is optimal to do so. The model fits observed prepayment behavior as well as the recent empirical model of Schwartz and Torous (1989) Implications for pricing mortgage-backed securities are discussed.
Author : Richard K. Green
Publisher : Academic Press
ISBN 13 : 0124045936
Total Pages : 249 pages
Book Rating : 4.1/5 (24 download)
Download or read book Introduction to Mortgages and Mortgage Backed Securities written by Richard K. Green and published by Academic Press. This book was released on 2013-11-21 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making
Author : Timothy J. Riddiough
Publisher :
ISBN 13 :
Total Pages : 628 pages
Book Rating : 4.:/5 (89 download)
Download or read book Equilibrium Mortgage Default Pricing with Non-optimal Borrower Behavior written by Timothy J. Riddiough and published by . This book was released on 1990 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter Neuteboom
Publisher : IOS Press
ISBN 13 : 1586039180
Total Pages : 120 pages
Book Rating : 4.5/5 (86 download)
Download or read book On the Rationality of Borrowers' Behaviour written by Peter Neuteboom and published by IOS Press. This book was released on 2008 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the time and depth of the cycles differed from one European country to another, mortgage markets have grown in size. This title presents a study that highlights the role of the institutions, household characteristics, and the structure of national mortgage markets as key elements in shaping the optimal mortgage for homeowners.
Author : Robert L. Phillips
Publisher : Stanford University Press
ISBN 13 : 1503605655
Total Pages : 416 pages
Book Rating : 4.5/5 (36 download)
Download or read book Pricing Credit Products written by Robert L. Phillips and published by Stanford University Press. This book was released on 2018-07-10 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the 2008 financial crisis, it became apparent that pricing loans in a way that is profitable for lenders and sensitive to risk is anything but simple. Increasingly, lenders are following the lead of other retailers by segmenting their market and more precisely targeting customers. To do this successfully, lenders must engage analytic approaches, such as machine learning and optimization, in setting prices for each segment. Robert L. Phillips worked with major banks and financial services companies for more than a decade to help them improve their pricing capabilities. This book draws on his experience, as well as the latest academic research, to demonstrate how lenders can apply the proven techniques of price optimization to responsibly improve the profitability of their loans. It is a go-to resource for academics and professionals alike, particularly lenders who are looking for ways to do better business in an increasingly competitive (and regulated) market.
Author : Joe P. Mattey
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Housing Price Cycles and Prepayment Rates of U.S. Mortgage Pools written by Joe P. Mattey and published by . This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : T. Kariya
Publisher : Springer Science & Business Media
ISBN 13 : 1441992308
Total Pages : 273 pages
Book Rating : 4.4/5 (419 download)
Download or read book Asset Pricing written by T. Kariya and published by Springer Science & Business Media. This book was released on 2011-06-27 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Main Goals The theory of asset pricing has grown markedly more sophisticated in the last two decades, with the application of powerful mathematical tools such as probability theory, stochastic processes and numerical analysis. The main goal of this book is to provide a systematic exposition, with practical appli cations, of the no-arbitrage theory for asset pricing in financial engineering in the framework of a discrete time approach. The book should also serve well as a textbook on financial asset pricing. It should be accessible to a broad audi ence, in particular to practitioners in financial and related industries, as well as to students in MBA or graduate/advanced undergraduate programs in finance, financial engineering, financial econometrics, or financial information science. The no-arbitrage asset pricing theory is based on the simple and well ac cepted principle that financial asset prices are instantly adjusted at each mo ment in time in order not to allow an arbitrage opportunity. Here an arbitrage opportunity is an opportunity to have a portfolio of value aat an initial time lead to a positive terminal value with probability 1 (equivalently, at no risk), with money neither added nor subtracted from the portfolio in rebalancing dur ing the investment period. It is necessary for a portfolio of valueato include a short-sell position as well as a long-buy position of some assets.
Author : Richard Stanton
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Unobservable Heterogeneity and Rational Learning written by Richard Stanton and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous mortgage prepayment and valuation models assume that two mortgage pools with the same observable characteristics should behave indistinguishably. However, even pools with apparently identical characteristics often exhibit markedly different prepayment behavior. The sources of this heterogeneity may be unobservable, but we can infer information about a pool from its prepayment behavior over time. This paper develops a methodology for using this information to calculate pool-specific mortgage-backed security prices. Knowledge of these prices is important both for portfolio valuation and for determining the cheapest pool to deliver when selling mortgage-backed securities. We find that unobservable heterogeneity between mortgage pools is statistically significant, and that pool- specific prices, calculated for a sample of outwardly identical mortgage pools between 1983 and 1989, may differ greatly from any single representative price.
Author : Chia-Lin Chang
Publisher : MDPI
ISBN 13 : 3038979260
Total Pages : 222 pages
Book Rating : 4.0/5 (389 download)
Download or read book Applied Econometrics written by Chia-Lin Chang and published by MDPI. This book was released on 2019-05-13 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the theme of the monograph is primarily related to “Applied Econometrics”, there are several theoretical contributions that are associated with empirical examples, or directions in which the novel theoretical ideas might be applied. The monograph is associated with significant and novel contributions in theoretical and applied econometrics; economics; theoretical and applied financial econometrics; quantitative finance; risk; financial modeling; portfolio management; optimal hedging strategies; theoretical and applied statistics; applied time series analysis; forecasting; applied mathematics; energy economics; energy finance; tourism research; tourism finance; agricultural economics; informatics; data mining; bibliometrics; and international rankings of journals and academics.
Author : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development
Publisher :
ISBN 13 :
Total Pages : 348 pages
Book Rating : 4.3/5 (121 download)
Download or read book Federal Housing Administration's Mutual Mortgage Insurance Fund written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Housing and Community Development and published by . This book was released on 1994 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Peter Rubinstein
Publisher :
ISBN 13 :
Total Pages : 730 pages
Book Rating : 4.:/5 (33 download)
Download or read book Adjustable Rate Mortgage Pricing written by David Peter Rubinstein and published by . This book was released on 1990 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : R.A. Jarrow
Publisher : Elsevier
ISBN 13 : 9780444890849
Total Pages : 1204 pages
Book Rating : 4.8/5 (98 download)
Download or read book Finance written by R.A. Jarrow and published by Elsevier. This book was released on 1995-12-15 with total page 1204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hardbound. The Handbook of Finance is a primary reference work for financial economics and financial modeling students, faculty and practitioners. The expository treatments are suitable for masters and PhD students, with discussions leading from first principles to current research, with reference to important research works in the area. The Handbook is intended to be a synopsis of the current state of various aspects of the theory of financial economics and its application to important financial problems. The coverage consists of thirty-three chapters written by leading experts in the field. The contributions are in two broad categories: capital markets and corporate finance.
Author : Susan J. Smith
Publisher : John Wiley & Sons
ISBN 13 : 9781444317985
Total Pages : 648 pages
Book Rating : 4.3/5 (179 download)
Download or read book The Blackwell Companion to the Economics of Housing written by Susan J. Smith and published by John Wiley & Sons. This book was released on 2010-01-22 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
