Retirement planning is an important part in personal financial planning process. With lots of financial planning tools available in the market it would be a tough challenge for the reverse mortgage loan to succeed. Reverse Mortgage Loan (RML), which unlocks investments in residential property and converts into cash, is new to India. The beneficiaries are senior citizens. RML is beneficial to the borrowers and lenders simultaneously. The main objective of this book is to study the feasibility of reverse mortgage loans as a retirement planning tool, to find the major challenges against the acceptance of reverse mortgage loan in India and to understand the level of acceptance of reverse mortgage loan. The book also includes a detailed overview of reverse mortgage industry in India, various regulations governing reverse mortgage loan, an overview of various reverse mortgage schemes offered by various institutions in India and the basics of reverse mortgage loan including its characteristics, advantages, disadvantages, uses etc.
Assignment is a crucial topic in commercial law, and this new work by Gregory Tolhurst is the most comprehensive work on the assignment of contractual rights ever published. It seeks to explain the existence, meaning and application of the rules governing the assignment of contractual rights and it does this by reference to the idea that assignments involve transfers. The book is logically structured to follow the issues that arise in planning, drafting and enforcing an assignment, including: - what is meant by 'assignment'; - what is the distinction between legal and equitable assignments; - how an assignable contractual right is identified; - what formalities apply to assignment; and - what rights and remedies are available to the parties to an assignment. The topic of assignment is of such universal importance to commercial lawyers that all practicing lawyers will find this work invaluable. However, the work will also be required reading for academics teaching contract, equity and personal property.
The focus area of this paper is on the assignment problem with budget constraints which is one of the application area of combinatorial optimization that operates on the domain of those optimization problems,in which the set of feasible solutions is discrete or can be reduced to discrete,and in which the goal is to find the best solution. It is particularly concerned with solving the unconstrained assignment problems with Hungarian algorithm and the constrained assignment problem by cutting plane or outer linearization algorithm for solving the Lagrangian dual problem in which, at each iteration,the function that approximates the dual function is optimized. The paper is divided in to two chapters. In the first chapter,the classical assignment problem,the problem of finding optimum (minimum or maximum) cost or profit assignment a set of workers or resources to jobs or activities to gather with its mathematical formulation,solution methods and special cases in assignment problems were considered. Under the second chapter, we have considered generalization of the classical assignment problem concerning resource(or budget) constraints, due to the variety of real life problems.
An up-to-date look at the latest innovations in mortgage-backed securities Since the last edition of Mortgage-Backed Securities was published over three years ago, much has changed in the structured credit market. Frank Fabozzi, Anand Bhattacharya, and William Berliner all have many years of experience working in the fixed-income securitization markets, and have witnessed many cycles of change in the mortgage and MBS sectors. And now, with the Second Edition of Mortgage-Backed Securities, they share their knowledge on many of the products and structuring innovations that have taken place since the financial crisis and fiscal reform. Written in a straightforward and accessible style, and containing numerous illustrations, this timely guide skillfully addresses the investment characteristics, creation, and analysis of mortgage-backed securities. Each chapter contains cutting-edge concepts that you'll need to understand in order to thrive within this arena. Discusses the dynamic interaction between the mortgage industry, home prices, and credit performance Addresses revised valuation techniques in which all non-agency MBS must be treated as credit pieces Examines the shift in this marketplace since the crisis and the impact on industry and investors Filled with in-depth insights and expert advice, Mortgage-Backed Securities, Second Edition offers you a realistic assessment of this field and outlines the products, structures, and analytical techniques you need to know about in this evolving arena.
Book DescriptionYou're a mortgage broker. You want to make more deals. What if you had access to a marketing consultant who's helped your competitors sell millions of dollars worth of residential mortgages? How much would you pay for that information? Hundreds? Thousands? How about the cover price of this book? For the first time, a successful Los Angeles radio creative director shares trade secrets with you--applying an irreverent sense of humor, a pithy, take-no-prisoners prose, and notions that will frustrate both your competitors and the big advertising agencies. Bottom line: if you know just what to say and just how to say it, radio advertising can dramatically increase your business. You too can do Million-Dollar Mortgage Radio.
Assignment Problem is one of the first fundamental problems in the area of combinatorial optimization. Despite its historical roots, the problem has tremendous importance to date, due to its numerous real life applications in like facility location, personnel scheduling, job scheduling, production planning, project assignment, task assignment, time-tabling, vehicle routing, storage space allocation, etc. This book comprises some real life assignment and related problems involving imprecise cost/time parameters. In order to represent those imprecise parameters, interval numbers have been used here as this representation is the best among others. The associated problems have been solved using Genetic Algorithm efficiently. A salient feature of this book is that most of the algorithms have been written in a lucid manner with suitable examples using figures. This book should interest academicians, OR/GA practitioners and executives of different industries and business organizations.
A clear look at how to capture investment profits during difficult financial times The U.S. economy has become crippled by the credit and real estate catastrophe. Even though we've all been affected by the calamity and have heard no shortage of news about it, it still seems unfathomable and utterly incomprehensible to most people that the actions of certain mortgage brokers, bankers, ratings agencies, and investment banks could break the economic engine of the world. Now, for the first time, and in terms everyone can grasp, noted analysts and value investing experts Whitney Tilson and Glenn Tongue explain not only how it happened, but shows that the tsunami of credit problems isn't over. The second wave has yet to come. But if you know catastrophe is looming, you can sidestep the train wreck-and even profit. You just need to understand how bad times present opportunity and where to look. More Mortgage Meltdown can help you achieve this goal. The book Breaks down the complex mortgage products and rocket-science securities Wall Street created Addresses how to find investment opportunities within the rubble and position your portfolio to take advantage of the crisis Explains exactly how the combination of aggressive lending, government missteps, and Wall Street trading practices created the perfect economic storm Shows you why the crisis is not yet over and what we can expect going forward More Mortgage Meltdown can help you understand the events that have unfolded, and put you in a better position to profit from the opportunities that arise during these tough financial times.
The only guidebook that shows you how to finance any property–with or without bank approval Would you like to discover all of the many ways that you can finance real estate? Want to learn how to cut your financing costs, avoid pitfalls, and negotiate the best terms? Then let Gary Eldred's 106 Mortgage Secrets All Borrowers Must Learn–But Lenders Don't Tell, Second Edition guide you. Fully updated, this practical guide explains how today's changing mortgage market really works. Unlike other mortgage guides, this book goes beyond traditional bank-originated loans and shows you how to benefit with seller financing, assumables, subject-to, wraparounds, lease options, foreclosures, and other money-saving possibilities. 106 Mortgage Secrets also protects you from the sharp practices of loan reps that have recently sparked Congressional hearings and multiple state investigations. In addition, Eldred shows how and why the right financing decisions can add tens (and sometimes hundreds) of thousands of dollars to your long-term net worth. With these 106 secrets, you'll build the confidence and the knowledge to: * Increase your borrowing power * Obtain the lowest interest rate * Understand the true pros and cons of ARMs * Cut (or eliminate) the cost of mortgage insurance * Save big with seller financing, assumptions, foreclosures, and REOs * Strengthen your credit profile and credit score * Avoid getting taken… by the fine print and garbage fees * Steer clear of scams and unprincipled loan reps and lenders * Accumulate wealth through homeownership and investment properties Simple, concise, and comprehensive, this book reveals everything property buyers need to know–especially the 106 financing secrets lenders too often omit.
In recent years, we have witnessed a tremendous growth of communication networks. This is because they are widely used in all walks of life, and this trend continues increasing. The research on computer communication networking field has also grown explosively due to a large variety of combinatorial optimisation problems. One of these problems is the Terminal Assignment Problem which implies fixing the minimum cost links to construct a network between a specified set of terminals and concentrators. A good solution for this problem should maintain small distances between concentrators and terminals assigned to them without exceeding the capacity of any concentrator. Additionally, it should also maintain a balanced distribution of terminals among concentrators. The intractability of this problem is a motivation for the pursuits of different approximation algorithms. In this book, we explore several metaheuristics applied to the Terminal Assignment Problem and other similar problems. Simulation results verify the effectiveness of these algorithms.
A complete guide to investing in and managing a portfolio of mortgage- and asset-backed securities Mortgage- and asset-backed securities are not as complex as they might seem. In fact, all of the information, financial models, and software needed to successfully invest in and manage a portfolio of these securities are available to the investment professional through open source software. Investing in Mortgage and Asset-Backed Securities + Website shows you how to achieve this goal. The book draws entirely on publicly available data and open source software to construct a complete analytic framework for investing in these securities. The analytic models used throughout the book either exist in the quantlib library, as an R package, or are programmed in R and incorporated into the analytic framework used. Examines the valuation of fixed-income securities—metrics, valuation framework, and return analysis Covers residential mortgage-backed securities—security cash flow, mortgage dollar roll, adjustable rate mortgages, and private label MBS Discusses prepayment modeling and the valuation of mortgage credit Presents mortgage-backed securities valuation techniques—pass-through valuation and interest rate models Engaging and informative, this book skillfully shows you how to build, rather than buy, models and proprietary analytical platforms that will allow you to invest in mortgage- and asset-backed securities.
Dreaming of being debt free? Wondering what a tumultuous property market will mean for your financial future? Wanting to buy, sell or invest in property without being ripped off or paying a mortgage for the term of your natural life? If you answered 'yes' to any of these questions, then Mortgage Stressbusters is a must-read. This plain-English, Q&A guide to mortgages and residential property will help you to end mortgage stress once and for all. Not only will you learn how to save money – and time – on your mortgage, but you'll also learn the tricks, tips and tactics that will get you ahead in the property game. Inside you'll discover: how to get the best mortgage deal how to buy property successfully, no matter what the market is doing how to pay off your mortgage – fast what to do if you can't pay your mortgage. Whether you're stuck in the mortgage mire or just trying to stay ahead, Mortgage Stressbusters is the book for you!
The problem of distributing goods from depots to consumers plays an important role in the management of many distribution systems, and therefore when it is programmed efficiently it may yield significant savings. In a typical distribution system, trucks provide pick-up and delivery services to customers that are geographically dispersed in a given area. In many of its applications, the main objective of distribution is to find a set of routes for such trucks, satisfying a variety of constraints, so as to minimize the total distribution cost. This work focuses on a decision model for a real world problem. The problem reveals itself as assignment of trucks to routes by Latex Foam Rubber Products Limited-Kumasi, Ghana. This study addresses the problem of finding an efficient assignment of the limited number of trucks at the company’s disposal to the routes they ply while serving its customers outside the metropolis. In this work we use a solution procedure based on Munkres Assignment Algorithm for optimal assignment of non-homogenous fleet of trucks to a given set of routes, where Latex Foam Rubber Products Limited-Kumasi, distributes its products to its customers.
A comprehensive guide to the continuously evolving world of securitization The Second Edition of The Securitization Markets Handbook is a valuable resource for both experienced money managers trying to put a securitization strategy into place as well as newcomers looking to acquire a broad and strong foundation in this discipline. This edition takes a close look at the pre- and post-crash mortgage market and the mortgage-backed securities based on those mortgages, as well as other asset-backed securities including commercial paper or credit cards. The crash of the subprime market and the failure of the asset-backed markets offer an opportunity to learn about banking finance, specifically off-balance sheet finance, and the many costly mistakes that resulted in one of the most severe downturns in financial markets. With this book, you'll discover why certain mortgage and asset-backed securities imploded and others didn't. This new edition examines why the market failed and how the next crisis can be averted or made less severe. It also explains why securitization remains a primary source of capital for the mortgage market, credit card market, home equity market, auto loan market, and segments of the commercial paper market. Offers an informed overview of how the securitization market works, how to make money in it, and what's next for asset- and mortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history of the growth and crash of the subprime market, asset-backed securities, and home equity lines of credit Written by securitization experts Charles Stone and Anne Zissu Updated to reflect the current market environment, the Second Edition of The Securitization Markets Handbook offers clear, comprehensive guidance to these complex markets.
A wireless mesh networks (WMNs) has emerged recently, WMN consist of two types of nodes mesh routers and mesh clients.WMN is dynamically self-organized and self-configured, with the nodes in the network automatically establishing and maintaining mesh connectivity among themselves. Channel assignment is a critical issue in WMN which is the mapping between the available channels and the radios at each node such that the network performance is optimized, and hence the focus of this work along with static channel assignment, multi-radio, multi-channel. Multi-radio MAC can potentially achieve higher network capacity than single-radio MAC. We design and implement a new agent (DSBCA) distributed channel assignment spanner base, the routing protocol Optimize the network performance considering the throughput, end-to-end delay, connectivity and the interference of our channel assignment algorithm. Base on the network simulations NS2.34 on Linux Fedora and our proposed channel assignment algorithm improved the throughput, minimal-connectivity preserving channel assignment algorithm.
Modern day public transport assignment faces lots of problems. Solutions may exist but needs some form of backings. A sensitivity analysis in most cases could just be sufficient to provide this backing. The developments in this book are very important for students, academic researchers and policy makers. The book provides an extensive review on transit assignment, sensitivity analysis and OmniTRANS. It highlights important conclusions such as:- - Passenger access-egress distances significantly affects their access stop choices. - The travel distance parameter of the generalized cost function has the highest influence on transit assignment - The number of transfers to be made by passengers significantly determines their generalized cost of travel - A carefully conducted partial sensitivity analysis can provide better predictions than a Monte-Carlo sensitivity analysis. As a policy advice to public transport operators in Flanders-Belgium, the developments in this book suggest that; to improve transit assignment, it is sufficient to reduce passengers access-egress distances & the number of transfers either through the institution of more direct transit lines or missing links.
The mortgage meltdown: what went wrong and how do we fix it? Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now? In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues. Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy Explores several important issues that policymakers must address in any future reshaping of financial market regulations Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial system The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations.
This book provides an analysis on the expansion and the burst phases of the 2007 sub-prime mortgage bubble, in two interrelated sections. The first part analyzes the speculative investor behavior of the crisis and exhibits that before the crisis the asset prices such as CMBS and S&P 500 indexes showed statistical features which are not common among financial time series. The results indicate that during bubble periods several of the stylized facts such as volatility clustering and auto-correlation of absolute returns unexpectedly disappeared indicating the investors'' irrational exuberance during 2007 sub-prime mortgage crisis. I have suggested that other bubble periods can be detected by similar stylized fact tests. In the second part, I showed that common macroeconomic risk factors can explain, to a very large extent, all types of mortgage''s credit risk and I concluded that individual mortgages are possessing significant default correlation, especially sub-prime mortgage classes. Finally this book ends with demonstrating the significance of correlated defaults on default distributions'' fat tails which explains the defaults of high tranche MBS products.
Mortgage-backed and asset-backed securities are fixed-income securities, like bonds, which derive their return from an underlying mortgage or basket of mortgages, or an asset or basket of assets. This market has increased from about $100 billion in 1980 to over $2.5 trillion today. Filling the void for a new book on fixed-income, Salomon Smith Barney Guide to Mortgage-Backed and Asset-Backed Securities provides a coherent and comprehensive approach to the subject. Featuring material used by the company, this book is an ideal training tool and resource for investment professionals, institutional investors, pension fund investors, and hedge-fund investors. Lakhbir Hayre (New York, NY) is a mortgage officer at Salomon Smith Barney, and their leading expert on mortgage-backed and asset-backed securities. He is a Certified Financial Analyst and a Doctor of Philosophy.
The real estate markets are full of speculative behaviors, and have been booming since the beginning of this decade. Even though the markets have only a very short history, the issue of how to rationally measure the speculative behaviors remains open in the academe and practice. Based on the levels of house prices, this booklet establishes some innovative dynamic models, proposes a concept of utilizing the ratio between net mortgage loan and net speculative gain to investigate the speculative behaviors and mortgage bubbles, and concludes some interesting results: The necessary condition of speculative behaviors’ existence is that the growth rate of house prices must have a positive minimum boundary, and, the net mortgage loan to net speculative gain ratio subsequently exists, depicting approximately the potential risks banks would face. Furthermore, investor’s behaviors may massively impact the trend of house prices through changing the expectation or variance of house returns in sale or in resale. The last finding indicates that investor’s behaviors change markets’ behaviors, which evidently testifies that the Efficient Market Hypothesis would be invalid.
Find The Home Mortgage That's Right For You Finding the right mortgage can be complex, confusing, and frustrating. But that doesn't mean you have to settle for anything other than the terms you want. This indispensable and newly updated second edition of How to Save Thousands of Dollars on Your Home Mortgage spells out everything mortgage hunters need to know in clear and accessible terms. It covers more loan alternatives than any other book and examines the importance of discount points. It offers complete details on virtually every mortgage option currently available, what advantages each option offers, how to choose the right one for your needs, and how to save money in the process. New information in this edition will help you use the Internet to find a home and get a mortgage, examine automated underwriting models and conforming loan limits, and weigh new shopping strategies. Easy-to-read charts and graphs, helpful sample forms, and numerous examples will help you understand: * First-time buyers programs * APR, buy-downs, reverse mortgages, accelerated payoffs, and zero point loans * Refinancing strategies * Closing costs, lender fees, and other expenses * How to dispute credit report errors and fix credit problems * How to use the Internet for loan analysis
Quickly make sense of mortgages Taking out a mortgage to purchase real estate is a huge decision, one that could affect your family's finances for years to come. This easy-to-follow guide explains how to secure the best and lowest-cost mortgage for your unique situation. Whether you select a 15- or 30-year mortgage, you'll get all the tips and tricks you need to pay it off faster—shortening your payment schedule and saving your hard-earned cash. Fine-tune your finances Qualify for a mortgage Secure the best loan Find your best lender Refinance your mortgage Pay down your loan quicker Must-knows about foreclosure Top mortgage no-nos
This book contains a good literature survey of various mathematical models and routing & wavelengths assignment algorithms in WDM optical networks. Some of the new algorithms for optimization of blocking probability have aslo been covered. This book is good for researchers who are working on optical networks and advancements in fiber optics communication. Mathematical models covered in this book are simple and easy to implement. A good number of routing and wavelength assignment algorithms have also been covered in this book which can be used to reduce blocking probability of the optical network. This book can be very helpful to the research scholars.
The Global Financial Crisis emerged from a single genius invention of investment bankers, which brought enormous profits to the largest investment organizations, and then led them into the precipice of debt. In this book we analyze the mortgage-backed securities, starting with their types, pricing models, and resulting cash flows to investors. We then proceed to how extreme complexity of the sophisticated financial instruments on the mortgage market fueled the crisis. However, while this was the root for the credit crunch in the US, the ways through which the local crisis permeated into the other economies were numerous, and so where the global rescue plans, and thus – they are vital to be compared. Only having made an in-depth analysis of the roots of the financial crisis in different economies and the global rescue plans, and having observed how this resulted in a shift of global priorities in politics and economics, can we see the global perspective and draw conclusions, crucial for the decision-makers in politics and business across the globe.