Mortgages and Mortgage-backed Securities (FRM Part 1 2025 – Book 3 – Chapter 18) скачать в хорошем качестве

Mortgages and Mortgage-backed Securities (FRM Part 1 2025 – Book 3 – Chapter 18)

Master the FRM Part 1 (Book 3) chapter on Mortgages and Mortgage-Backed Securities. We cover mortgage types, fixed-rate vs ARM, securitization, pass-throughs, tranching, prepayment risk, CPR, SMM, PSA, dollar rolls, OAS, Monte Carlo, WAC and WAM, plus worked examples (mortgage payment and amortization). For FRM (Part I & Part II) video lessons, study notes, question banks, mock exams, and formula sheets covering all chapters of the FRM syllabus, click on the following link: https://analystprep.com/shop/unlimite... AnalystPrep is a GARP-Approved Exam Preparation Provider for FRM Exams After completing this reading, you should be able to: Describe the various types of residential mortgage products. Calculate a fixed-rate mortgage payment and its principal and interest components. Describe the mortgage prepayment option and the factors that influence prepayments. Summarize the securitization process of mortgage-backed securities (MBS), particularly the formation of mortgage pools, including specific pools and to-be-announceds (TBAs). Calculate the weighted average coupon, weighted average maturity, single monthly mortality rate (SMM), and conditional prepayment rate (CPR) for a mortgage pool. Describe the process of trading pass-through agency MBS. Explain the mechanics of different types of agency MBS products, including collateralized mortgage obligations (CMOs), interest-only securities (IOs), and principal-only securities (POs). Describe a dollar roll transaction and how to value a dollar roll. Explain prepayment modeling and its four components: refinancing, turnover, defaults, and curtailments. Describe the steps in valuing an MBS using Monte Carlo simulation. Define Option Adjusted Spread (OAS) and explain its challenges and its uses. #FRM #GARP #MortgageBackedSecurities #MBS #Securitization #PrepaymentRisk #OAS #MonteCarlo #Finance #AnalystPrep