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Mortgage-Backed Securities: Products, Structuring, and Analytical Techniques (Frank J. Fabozzi Series)
by Frank J. Fabozzi, Anand K. Bhattacharya, William S. Berliner
from Wiley
Customer Reviews:
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Avg. Customer Rating: 5.0 / 5.0 
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the gold standard
I think this book is the new gold standard for MBS. Unlike previous MBS books I have read, this one flows well from chapter to chapter and can actually walk someone new to the field through collateral, structuring and valuation in a logical manner. Excellent job!
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A must read for those involved in the MBS market
The book provides a very complete overview the residential mortgage-backed securities market and is written by two gentlemen that were arguably at "the center of the storm" at Countrywide Securities.
The book is structured nicely taking the reader from a general overview of the MBS market to a detailed look of the process of securitization through to investing in the end securities.
The chapters dedicated to the structuring and credit enhancement techniques of residential ABS deals a particularly... more info
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Must have if you are in the MBS profession
This book can be used either as a reference for specific technical securities questions or for generic background reading on a related topic. Many people in our office find it very useful and it always seems to disappear from my desk. A must have five star book!
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understand some innovative instruments 
If you are a securities analyst wanting to understand recent innovations in financial instruments, Fabozii's topic can be very germane. He describes the myriad ways that bundling together mortgages can produce, in terms of cash flow and risk. Naturally, the book delves heavily into how well both can be modelled.
Specifically, there is a key section on how to measure prepayments and defaults. Both act against the "ideal" nature of a given instrument. Where ideal means that all debtholders will repay the... more info
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