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Author: Clark R. Abrahams Publisher: John Wiley & Sons ISBN: 9780470500354 Category : Business & Economics Languages : en Pages : 320
Book Description
"Clark and Mingyuan start with an insightful and comprehensive description of how market participants contributed to the current crisis in the residential mortgage markets and the root causes of the crisis. They then proceed to develop a new residential mortgage lending system that can fix our broken markets because it addresses the root causes. The most impressive attributes of their new system is its commonsense return to the basics of traditional underwriting, combined with factors based on expert judgment and statistics and forward-looking attributes, all of which can be updated as markets change. The whole process is transparent to the borrower, lender, and investor." —Dean Schultz, President and CEO, Federal Home Loan Bank of San Francisco "The credit market crisis of 2008 has deeply affected the economic lives of every American. Yet, its underlying causes and its surface features are so complex that many observers and even policymakers barely understand them. This timely book will help guide nonspecialists through the workings of financial markets, particularly how they value, price, and distribute risk." —Professor William Greene, Stern School of Business, New York University "This book is a well-timed departure from much of what is being written today regarding the current foreclosure and credit crisis. Rather than attempting to blame lenders, borrowers, and/or federal regulators for the mortgage meltdown and the subsequent impacts on the financial markets, Clark and Mingyuan have proposed a groundbreaking new framework to revolutionize our current lending system. The book is built on the authors' deep understanding of risk and the models used for credit analysis, and reflects their commitment to solve the problem. What I find most profound is their passion to develop a system that will facilitate new and better investment, especially in underserved urban markets that have been disproportionately impacted in the current crisis. I applaud the authors for this important work, and urge practitioners and theorists alike to investigate this new approach." —John Talmage, President and CEO, Social Compact "In the wake of the credit crisis, it is clear that transparency is the key to not repeating history. In Credit Risk Assessment: The New Lending System for Borrowers, Lenders and Investors, Clark Abrahams and Mingyuan Zhang describe a new lending framework that seeks to connect all the players in the lending chain and provide a more holistic view of customers' risk potential. As the financial services industry recovers from the mortgage meltdown, the Abrahams/Zhang lending model certainly offers some new food for thought to laymen and professionals alike." —Maria Bruno-Britz, Senior Editor, Bank Systems & Technology magazine
Author: Clark R. Abrahams Publisher: John Wiley & Sons ISBN: 0470461683 Category : Business & Economics Languages : en Pages : 320
Book Description
Credit Risk Assessment The New Lending System for Borrowers, Lenders, and Investors Credit Risk Assessment: The New Lending System for Borrowers, Lenders, and Investors equips you with an effective comprehensive credit assessment framework (CCAF) that can provide early warning of risk, thanks to its forward-looking analyses that do not rely on the premise that the past determines the future. Revealing how an existing credit underwriting system can be extended to embrace all relevant factors and business contexts in order to accurately classify credit risk and drive all transactions in a transparent manner, Credit Risk Assessment clearly lays out the facts. This well-timed book explores how your company can improve its current credit assessment system to balance risk and return and prevent future financial disruptions. Describing how a new and comprehensive lending framework can achieve more complete and accurate credit risk assessment while improving loan transparency, affordability, and performance, Credit Risk Assessment addresses: How a CCAF connects borrowers, lenders, and investors with greater transparency The current financial crisis and its implications The root cause to weaknesses in loan underwriting practices and lending systems The main drivers that undermine borrowers, lenders, and investors Why a new generation of lending systems is needed Market requirements and how a comprehensive risk assessment framework can meet them The notion of an underwriting gap and how it affects the lenders' underwriting practices Typical issues associated with credit scoring models How improper use of credit scoring in underwriting underestimates the borrower's credit risk The ways in which the current lending system fails to address loan affordability How mortgage and capital market financial innovation relates to the crisis
Author: Christian Langkamp Publisher: BoD – Books on Demand ISBN: 3844103090 Category : Business & Economics Languages : en Pages : 326
Book Description
The financial crisis has shown that a significant proportion of the assets held by large corporations are exposed to credit risk that must be managed. This doctoral thesis sets out to analyse the contextual and organisational framework within which these activities are set and the practices employed by professionals in the field. This analysis draws on a set of interview-based data from large corporations in Europe and Brazil, predominantly from the chemical, energy, trading, and general manufacturing industries. Due to their diverse natures, the subjects of customer and financial institution counterparty credit risk are treated separately, addressing for each the organisation of the function, data acquisition process, and IT setup recommendable in order to effectively drive risk management, including a review for the practitioner to analyse his or her processes. A final chapter with analyses regarding trade credit insurance, sovereign risk, and quantitative special items rounds off the text making it into a comprehensive treatise on credit risk management in an industrial corporation.
Author: Gordon L. Clark Publisher: Oxford University Press ISBN: 0199557438 Category : Business & Economics Languages : en Pages : 350
Book Description
Recent market turmoil, bank runs, global equities sell-off, and the 'credit crunch' have demonstrated the sophisticated and interconnected nature of financial markets today - seemingly localized problems have quickly spread, putting at risk the solvency of both local and global financial institutions. As these markets are increasingly complex, interconnected, and embedded in the daily lives of individuals, there is a pressing need to unravel and understand the complexities andprospects of this new and transformative social, political, and geographical paradigm.This book brings together a group of leading scholars from a range of disciplines to formulate a more holistic understanding of financial risk by rooting it in different environments, spatial scales, and disciplines. The result is an all-encompassing exposition of current and future financial risk management practices, possibilities, and problems.
Author: Donald R. Van Deventer Publisher: John Wiley & Sons ISBN: 1118278550 Category : Business & Economics Languages : en Pages : 834
Book Description
Practical tools and advice for managing financial risk, updated for a post-crisis world Advanced Financial Risk Management bridges the gap between the idealized assumptions used for risk valuation and the realities that must be reflected in management actions. It explains, in detailed yet easy-to-understand terms, the analytics of these issues from A to Z, and lays out a comprehensive strategy for risk management measurement, objectives, and hedging techniques that apply to all types of institutions. Written by experienced risk managers, the book covers everything from the basics of present value, forward rates, and interest rate compounding to the wide variety of alternative term structure models. Revised and updated with lessons from the 2007-2010 financial crisis, Advanced Financial Risk Management outlines a framework for fully integrated risk management. Credit risk, market risk, asset and liability management, and performance measurement have historically been thought of as separate disciplines, but recent developments in financial theory and computer science now allow these views of risk to be analyzed on a more integrated basis. The book presents a performance measurement approach that goes far beyond traditional capital allocation techniques to measure risk-adjusted shareholder value creation, and supplements this strategic view of integrated risk with step-by-step tools and techniques for constructing a risk management system that achieves these objectives. Practical tools for managing risk in the financial world Updated to include the most recent events that have influenced risk management Topics covered include the basics of present value, forward rates, and interest rate compounding; American vs. European fixed income options; default probability models; prepayment models; mortality models; and alternatives to the Vasicek model Comprehensive and in-depth, Advanced Financial Risk Management is an essential resource for anyone working in the financial field.
Author: Willi Brammertz Publisher: John Wiley & Sons ISBN: 1119991102 Category : Business & Economics Languages : en Pages : 463
Book Description
Unified Financial Analysis arrives at the right time, in the midst of the current financial crisis where the call for better and more efficient financial control cannot be overstated. The book argues that from a technical perspective, there is no need for more, but for better and more efficiently organized information. The title demonstrates that it is possible with a single but well organized set of information and algorithms to derive all types of financial analysis. This reaches far beyond classical risk and return or profitability management, spanning all risk categories, all valuation techniques (local GAAP, IFRS, full mark-to-market and so on) and static, historic and dynamic analysis, just to name the most important dimensions. The dedication of a complete section to dynamic analysis, which is based on a going concern view, is unique, contrasting with the static, liquidation-based view prevalent today in banks. The commonly applied arbitrage-free paradigm, which is too narrow, is expanded to real world market models. The title starts with a brief history of the evolution of financial analysis to create the current industry structure, with the organisation of many banks following a strict silo structure, and finishes with suggestions for the way forward from the current financial turmoil. Throughout the book, the authors advocate the adoption of a 'unified financial language' that could also be the basis for a new regulatory approach. They argue that such a language is indispensable, if the next regulatory wave – which is surely to come – should not end in an expensive regulatory chaos. Unified Financial Analysis will be of value to CEOs and CFOs in banking and insurance, risk and asset and liability managers, regulators and compliance officers, students of Finance or Economics, or anyone with a stake in the finance industry.
Author: Rafaela Hillerbrand Publisher: Springer Science & Business Media ISBN: 9400714335 Category : Science Languages : en Pages : 1209
Book Description
Risk has become one of the main topics in fields as diverse as engineering, medicine and economics, and it is also studied by social scientists, psychologists and legal scholars. But the topic of risk also leads to more fundamental questions such as: What is risk? What can decision theory contribute to the analysis of risk? What does the human perception of risk mean for society? How should we judge whether a risk is morally acceptable or not? Over the last couple of decades questions like these have attracted interest from philosophers and other scholars into risk theory. This handbook provides for an overview into key topics in a major new field of research. It addresses a wide range of topics, ranging from decision theory, risk perception to ethics and social implications of risk, and it also addresses specific case studies. It aims to promote communication and information among all those who are interested in theoetical issues concerning risk and uncertainty. This handbook brings together internationally leading philosophers and scholars from other disciplines who work on risk theory. The contributions are accessibly written and highly relevant to issues that are studied by risk scholars. We hope that the Handbook of Risk Theory will be a helpful starting point for all risk scholars who are interested in broadening and deepening their current perspectives.
Author: Charles S. Tapiero Publisher: John Wiley & Sons ISBN: 0470892382 Category : Business & Economics Languages : en Pages : 530
Book Description
A comprehensive guide to financial engineering that stresses real-world applications Financial engineering expert Charles S. Tapiero has his finger on the pulse of shifts coming to financial engineering and its applications. With an eye toward the future, he has crafted a comprehensive and accessible book for practitioners and students of Financial Engineering that emphasizes an intuitive approach to financial and quantitative foundations in financial and risk engineering. The book covers the theory from a practitioner perspective and applies it to a variety of real-world problems. Examines the cornerstone of the explosive growth in markets worldwide Presents important financial engineering techniques to price, hedge, and manage risks in general Author heads the largest financial engineering program in the world Author Charles Tapiero wrote the seminal work Risk and Financial Management.
Author: John Krogstie Publisher: Springer ISBN: 3319915630 Category : Computers Languages : en Pages : 630
Book Description
This book constitutes the refereed proceedings of the 30th International Conference on Advanced Information Systems Engineering, CAiSE 2018, held in Talinn, Estonia, in June 2018. The 37 papers presented in this volume were carefully reviewed and selected from 175 submissions. The papers are organized in topical sections on Process Execution, User-Oriented IS Development, Social Computing and Personalization, the Cloud and Data Services, Process Discovery, Decisions and the Blockchain, Process and Multi-level Modelling, Data Management and Visualization, Big Data and Intelligence, Data Modelling and Mining, Quality Requirements and Software, and Tutorials.
Author: Lewis Tagliaferre Publisher: iUniverse ISBN: 1450215645 Category : Self-Help Languages : en Pages : 721
Book Description
Based upon the works of some of the worlds greatest thinkers, Lessons from Sedona: A Spiritual Pathway to Serenity and Contentment by author Lewis Tagliaferre, builds on the success of his first volume, Voices of Sedona. This new, comprehensive collection of essays is designed to teach the fundamental principles of Theofatalismthe belief that God runs everything in the universe from the smallest subatomic particle to the largest interstellar galaxy. The essays link the five principles developed in Voices of Sedona to contemporary issues in society and personal living including politics, science, religion, aging, history, and economics. Useful for both self-study and as lesson guides to be used in organized discussion groups, the essays show the world as it really is from many different perspectives. A comprehensive and formidable source on metaphysics and spirituality, Lessons from Sedona: A Spiritual Pathway to Serenity and Contentment provides a plethora of information for those interested in growing, changing, and transcending the limiting constrictions of consensus beliefs. It communicates humankinds unique place in time and space and their special role in the giant jigsaw puzzle of life.
Author: D. Chorafas Publisher: Springer ISBN: 1403948100 Category : Business & Economics Languages : en Pages : 252
Book Description
The author outlines the reasons why management risk must be examined within the perspective of each company's business challenges. He suggests there is a synergy between shareholder value and business ethics. He also underlines the importance of honesty, the risks associated with short-sighted management and over-centralisation, the benefits of innovative strategies and senior management's accountability for reliable financial reporting. The text is based on an extensive research project done by the author between 2000 and 2002 in the US, the UK, France, Italy and Switzerland.
Author: Clark R. Abrahams
Author: Clark R. Abrahams
Author: Christian Langkamp
Author: Gordon L. Clark
Author: Donald R. Van Deventer
Author: Willi Brammertz
Author: Rafaela Hillerbrand
Author: Charles S. Tapiero
Author: John Krogstie
Author: Lewis Tagliaferre
Author: D. Chorafas