Mortgage-Backed Securities

Andreas Fuster, David Lucca and James Vickery ()

No 16989, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: 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.

Keywords: Mortgage finance; Securitization; Agency mortgage-backed securities; Tba; Option-adjusted spreads; Covered bonds (search for similar items in EconPapers)
JEL-codes: G10 G12 G21 (search for similar items in EconPapers)
Date: 2022-02
References: Add references at CitEc
Citations:

Downloads: (external link)
https://cepr.org/publications/DP16989 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Working Paper: Mortgage-Backed Securities (2025)
Chapter: Mortgage-backed securities (2023)
Working Paper: Mortgage-Backed Securities (2022)
Working Paper: Mortgage-Backed Securities (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:16989

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP16989

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().