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The Credit Risk of Non‐Agency Mortgage Securities: Definition, Measurement and Diversification

Journal of Property Finance

ISSN: 0958-868X

Article publication date: 1 December 1992

500

Abstract

Seeks to define, measure and diversify house price change for the advantage of lenders and investors in the non‐agency mortgage market. Comments that the Daiwa average has been calculated for all states and the variable trend can be used to predict future trends. Indicates that the greatest risk of default arises where the property is vulnerable to price changes but inflation and amortization have not built up. Suggests that lenders and investors can use the Daiwa composite average sales prices to compose advantageous portfolios.

Keywords

Citation

Youngblood (1992), "The Credit Risk of Non‐Agency Mortgage Securities: Definition, Measurement and Diversification", Journal of Property Finance, Vol. 3 No. 2. https://doi.org/10.1108/09588689210033828

Publisher

:

MCB UP Ltd

Copyright © 1992, MCB UP Limited

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