Mortgage-backed securities

Andreas Fuster, David Lucca and James Vickery

This paper reviews the mortgage-backed securities (MBS) market, with a particular emphasis on agency residential MBS in the United States. We discuss the institutional environment, security design, MBS risks and asset pricing, and the economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security characteristics, prepayment, and trading activity. Throughout, we highlight insights from the expanding body of academic research on the MBS market and mortgage securitization.

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Year of publication:	2023
Authors:	Fuster, Andreas ; Lucca, David O. ; Vickery, James
Published in:	Research handbook of financial markets. - Cheltenham, UK : Edward Elgar Publishing, ISBN 978-1-80037-532-1. - 2023, p. 331-357
Subject:	mortgage finance \| securitization \| agency mortgage-backed securities \| TBA \| option-adjusted spreads \| covered bonds \| Verbriefung \| Securitization \| Hypothek \| Mortgage \| Asset-Backed Securities \| Asset-backed securities \| Pfandbrief \| Covered bond \| Immobilienfinanzierung \| Real estate finance \| Zinsstruktur \| Yield curve \| Anleihe \| Bond \| Wertpapier \| Securities

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz im Buch ; Book section
Language:	English
Other identifiers:	10.4337/9781800375321.00024 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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