Mortgage Valuation Models: Embedded Options, Risk, and Uncertainty (Financial Management Association Survey and Synthesis) Illustrated Edition

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This is an outstanding book for financial professionals, students and any individuals interested in MBS. While it is not a book for beginners, Andrew Davidson and Alex Levin have drawn on their collective experience and produced a book that is simultaneously innovative and instructive. It's clear that in addition to their strong basis of knowledge, a great deal of thought and original ideas went in to this book. Anyone who wants to move past the boilerplate, basic credit research to find something fresh should read this book. It's the future of mortgage valuation.

Great book covering a wide range of relevant topics, ranging from interest rate models to an analysis of the financial crisis. It can do it thanks to the author's ability to distill the relevant factors in each topic. It pushes the envelope beyond OAS, with a sober analysis of model failures in the crisis. Everybody with an interest in mortgages can find something useful here

This is an excellent book by two of the most thoughtful, creative and quantitative mortgage researchers. I would recommend this book to every quantitative researcher in mortgages.