Whole-Loan CMOs

The definitive book on one of the fastest growing segments of the collateralized mortgage obligations market. Unlike traditional CMOs which are backed by government agencies, whole loan CMOs are backed by private entities. As a result, whole loan CMOs expose investors to credit risk, in addition to the traditional prepayment risk. Containing contributions from the top people in the field, Whole Loan CMOs expose investors to credit risk, in addition to the traditional prepayment risk. Containing contributions from the top people in the field, Whole Loan CMOs provides investors with the analytical tools they need to capitalize in this exciting, new market. Specific topics include: introduction to whole-loan CMOs; investment characteristics of whole-loan CMOs; evaluating the credit risk of whole-loan CMOs; preapyment analysis of whole-loan CMOs.