Chap019 - Chapter 19 Mortgage-Backed Securities Slides 19-1...

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Chapter 19 Mortgage-Backed Securities Slides 19-1 Fundamentals of Investments 19-2 Mortgage-Backed Securities 19-3 A Brief History of Mortgage-Backed Securities 19-4 A Brief History of Mortgage-Backed Securities, Cont. 19-5 Fixed-Rate Mortgages 19-6 Fixed-Rate Mortgage, Monthly Payments 19-7 Mortgage Payments, by Rate and Time 19-8 Fixed-Rate Mortgage Amortization 19-9 Example: Fixed-Rate Mortgage Amortization 19-10 Fixed-Rate Mortgage Amortization 19-11 Mortgage Amortization Schedule 19-12 Mortgage Interest and Principal, by Age of Mortgage 19-13 Fixed-Rate Mortgage Prepayment and Refinancing 19-14 Government National Mortgage Association 19-15 Government National Mortgage Association 19-16 GNMA Clones 19-17 GNMA Clones, Cont. 19-18 PSA Mortgage Prepayment Model, I. 19-19 PSA Mortgage Prepayment Model, II. 19-20 PSA Mortgage Prepayment Model, III. 19-21 PSA Mortgage Prepayment Model, SMM 19-22 PSA Mortgage Prepayment Model, Average Life 19-23 Cash Flow Analysis GNMA Fully Modified Mortgage Pools 19-24 Principal and Cash Flows for a GNMA Bond 19-25 Macaulay Durations for GNMA Mortgage-Backed Bonds 19-26 Macaulay Durations for GNMA Mortgage-Backed Bonds 19-27 Collateralized Mortgage Obligations 19-28 Interest-Only and Principal-Only Strips 19-29 Cash Flows for GNMA IO and PO Strips 19-30 Sequential CMOs, I. 19-31 Sequential CMOs, II. 19-32 Sequential CMO Principal and Cash Flows 19-33 Protected Amortization Class Bonds 19-34 Protected Amortization Class Bonds, Cont. 19-35 PAC Cash Flows and Total Cash Flows 19-36 Yields for MBSs and CMOs 19-37 MBS Yields 19-38 Useful Websites 19-39 Chapter Review, I. 19-40 Chapter Review, II.
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A-174 Chapter 19 Chapter Organization 19.1 A Brief History of Mortgage-Backed Securities 19.2 Fixed-Rate Mortgages A. Fixed-Rate Mortgage Amortization B. Fixed-Rate Mortgage Prepayment and Refinancing 19.3 Government National Mortgage Association A. GNMA Clones 19.4 Public Securities Association Mortgage Prepayment Model 19.5 Cash Flow Analysis of GNMA Fully Modified Mortgage Pools A. Macaulay Durations for GNMA Mortgage-Backed Bonds 19.6 Collateralized Mortgage Obligations A. Interest-Only and Principal-Only Mortgage Strips B. Sequential Collateralized Mortgage Obligations C. Protected Amortization Class Bonds 19.7 Yields for Mortgage-Backed Securities and Collateralized Mortgage Obligations 19.8 Summary and Conclusions Selected Web Sites www.investinginbonds.com (for information on bonds, bonds, bonds) www.ginniemae.gov (GNMA) www.hud.gov (HUD) www.fanniemae.com (FNMA) www.freddiemac.com (FHLMC) www.bondmarkets.com (Visit the Public Securities Association)
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Mortgage-Backed Securities A-175 Annotated Chapter Outline 19.1 A Brief History of Mortgage-Backed Securities Mortgage Pass-Throughs : Bonds representing a claim on the cash flows of an underlying mortgage pool passed through to bondholders. Mortgage-Backed Securities (MB)
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This note was uploaded on 10/19/2009 for the course FIN 322 taught by Professor R.robbin during the Spring '08 term at Arizona.

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Chap019 - Chapter 19 Mortgage-Backed Securities Slides 19-1...

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