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Valuation of CDS
I totally understand your CDS valuation spreadsheet. But I have one question regarding the structure of the CDS. To simplify, I assume buyer = some fund who purchases the CDS from the CDS sellser seller = insurance companies who offer CDS protection In order to calculate the premium...- danielkan2000
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- Forum: P2.T5. Market Risk (25%)
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What does servicers mean in the mortgage industry?
In 6a page 13, you give us an example Originator = HSBC Servicer = JP Morgan Arranger = Countrywide Financial Step1. HSBC first lends me (a borrower) money to buy a house (a mortgage contract has been signed) Step2. HSBC hires Countrywide Financial to repackage those mortgage contracts...- danielkan2000
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- Replies: 1
- Forum: P2.T6. Credit Risk (25%)
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Reducing the costs of managerial discretion?
on Book 1 Study note page 48/60, you mentioned that the company can borrow against assets rather than against future project in order to reduce the cost of managerial discretion? What does that mean?- danielkan2000
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- Replies: 1
- Forum: P1.T1. Foundations of Risk (20%)