haku: @author Torous, W. / yhteensä: 5
viite: 4 / 5
| Tekijä: | Schwartz, E. Torous, W. |
| Otsikko: | Prepayment, default, and the valuation of mortgage pass-through securities |
| Lehti: | Journal of Business
1992 : APR, VOL. 65:2, p. 221-240 |
| Asiasana: | BUSINESS ECONOMICS VALUATION SECURITIES |
| Kieli: | eng |
| Tiivistelmä: | This article investigates the interaction of prepayment and default decisions in the valuation of mortgage pass-through securities. Even though a mortgage pass-through security is typically quaranteed by a financial intermediary, default decisions affect the timing of its cash flows and therefore its value. The authors also investigate the equilibrium valuation of the default insurance provided by the financial intermediary. |
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