Mortgage-backed securities (MBS) are among the most complex of all financial instruments. Analysis of MBS requires blending empirical analysis of borrower behavior with the mathematical modeling of interest rates and home prices. Over the past 25 years, Andrew Davidson and Alexander Levin have been at the leading edge of MBS valuation and risk analysis. Mortgage Valuation Models: Embedded Options, Risk, and Uncertainty contains a detailed description of the sophisticated theories and advanced methods that the authors employ in real-world analyses of mortgage-backed securities. Issues such as complexity, borrower options, uncertainty, and model risk play a central role in the authors' approach to the valuation of MBS. The coverage spans the range of mortgage products from loans and TBA (to-be-announced) pass-through securities to subordinate tranches of subprime-mortgage securitizations. With reference to the classical CAPM and APT, the book advocates extending the concept of risk-neutrality to modeling home prices and borrower options, well beyond interest rates. It describes valuation methods for both agency and non-agency MBS including pricing new loans; approaches to prudent risk measurement, ranking, and decomposition; and methods for modeling prepayments and defaults of borrowers. The authors also reveal quantitative causes of the 2007-09 financial crisis and provide insight into the future of the U.S. housing finance system and mortgage modeling as this field continues to evolve. This book will serve as a foundation for the future development of models for mortgage-backed securities.

Mortgage Valuation Models: Embedded Options, Risk, and Uncertainty (Financial Management Association Survey and Synthesis)

Business & Money

Davidson, Andrew

Levin, Alexander

Economics

Oxford University Press

The Gargoyle

An extraordinary debut novel of love that survives the fires of hell and transcends the boundaries of time. On a burn ward, a man lies between living and dying, so disfigured that no one from his past life would even recognize him. His only comfort comes from imagining various inventive ways to end his misery. Then a woman named Marianne Engel walks into his hospital room, a wild-haired, schizophrenic sculptress on the lam from the psych ward upstairs, who insists that she knows him – that she has known him, in fact, for seven hundred years. She remembers vividly when they met, in another hospital ward at a convent in medieval Germany, when she was a nun and he was a wounded mercenary left to die. If he has forgotten this, he is not to worry: she will prove it to him. And so Marianne Engel begins to tell him their story, carving away his disbelief and slowly drawing him into the orbit and power of a word he'd never uttered: love.

Literature & Fiction

Literary

Random House Canada

An extraordinary debut novel of love that survives the fires of hell and transcends the boundaries of time. On a burn ward, a man lies between living and dying, so disfigured that no one from his past life would even recognize him. His only comfort comes from imagining various inventive ways to end his misery. Then a woman named Marianne Engel walks into his hospital room, a wild-haired, schizophrenic sculptress on the lam from the psych ward upstairs, who insists that she knows him – that she has known him, in fact, for seven hundred years. She remembers vividly when they met, in another hospital ward at a convent in medieval Germany, when she was a nun and he was a wounded mercenary left to die. If he has forgotten this, he is not to worry: she will prove it to him. And so Marianne Engel begins to tell him their story, carving away his disbelief and slowly drawing him into the orbit and power of a word he'd never uttered: love. From the Hardcover edition.

Vintage Canada

A New York Times Bestseller 
The Gargoyle: the mesmerizing story of one man's descent into personal hell and his quest for salvation.
On a dark road in the middle of the night, a car plunges into a ravine. The driver survives the crash, but his injuries confine him to a hospital burn unit. There the mysterious Marianne Engel, a sculptress of grotesques, enters his life. She insists they were lovers in medieval Germany, when he was a mercenary and she was a scribe in the monastery of Engelthal. As she spins the story of their past lives together, the man's disbelief falters; soon, even the impossible can no longer be dismissed.

Reference

Knopf Doubleday Publishing Group

The author of this text goes behind the scenes at Britain's largest hospital trust and describes a year in the life of a hospital through the stories of those who work there and those who pass through its wards. St Thomas' Hospital in London is one of the most well known centres of medical excellence in the world. For two years it was the subject of a bitter political controversy over the decision to amalgamate it with Guy's Hospital. This book reveals the tensions St Thomas' suffers in a year when its future was dependent on the outcome of the general election. The account blends reportage, analysis and reconstructions to examine the day-to-day crises and successes in the hospital. It reveals the choices made by doctors, nurses, administrators, patients and relatives.

Bloodlines

Politics & Social Sciences

Politics & Government

Time Warner Paperbacks*

Andrew Davidson goes behind the scenes at Britain's largest hospital trust and describes a year in the life of a hospital through the stories of those who work and pass through there. From the man who runs the mortuary to the Chief Executive who has "finished" an affair with the head of PR, to the patients with Multi Drug Resistant Infection and those who come in to have frozen fish removed from unlikely places, this book reveals the choices that doctors, nurses, administrators and patients must make each day—decisions that are often literally a matter of life and death.

Bloodlines: Real Lives in a Great British Hospital

Social Sciences

Little, Brown Book Group

Contemporary

DOUBLEDAY

A complete guide to securitization. * Analyzes leases, tax liens, and other new securitization markets developing globally. * Contains exercises and examples taken from real transactions. * Companion CD-ROM includes calculation tools and examples, data for models, ongoing updates on models, and Q&amp;A with authors to address complex securitization questions.

Securitization: Structuring and Investment Analysis

Sanders, Anthony

Wolff, LAN-Ling

Ching, Anne

wiley

An extraordinary debut novel of love that survives the fires of hell and transcends the boundaries of time The narrator of The Gargoyle is a very contemporary cynic, physically beautiful and sexually adept, who dwells in the moral vacuum that is modern life. As the book opens, he is driving along a dark road when he is distracted by what seems to be a flight of arrows. He crashes into a ravine and suffers horrible burns over much of his body. As he recovers in a burn ward, undergoing the tortures of the damned, he awaits the day when he can leave the hospital and commit carefully planned suicide—for he is now a monster in appearance as well as in soul. A beautiful and compelling, but clearly unhinged, sculptress of gargoyles by the name of Marianne Engel appears at the foot of his bed and insists that they were once lovers in medieval Germany. In her telling, he was a badly injured mercenary and she was a nun and scribe in the famed monastery of Engelthal who nursed him back to health. As she spins their tale in Scheherazade fashion and relates equally mesmerizing stories of deathless love in Japan, Iceland, Italy, and England, he finds himself drawn back to life—and, finally, in love. He is released into Marianne's care and takes up residence in her huge stone house. But all is not well. For one thing, the pull of his past sins becomes ever more powerful as the morphine he is prescribed becomes ever more addictive. For another, Marianne receives word from God that she has only twenty-seven sculptures left to complete—and her time on earth will be finished. Already an international literary sensation, the Gargoyle is an Inferno for our time. It will have you believing in the impossible.

Romance

Random House Audio |

Buck is a dog born to luxury, but his life changes dramatically when he is sold to be a sled dog in the Yukon Terrority. First published in 1903, this masterpiece of adventure and survival continues to enthrall readers almost a century later.

The Call of the Wild (Kingfisher Classics)

Children's Books

George, Jean Craighead

LONDON, JACK.

Animals

Kingfisher

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