White Papers

A Purpose-Driven Approach to Model Validation: A Client Framework for Understanding Model Validation, Governance, and Ongoing Monitor, October 2026

UBS Global Research, "Beyond FICO: Vantage Scores, Borrower Behavior and Market Implications with Andrew Davidson," September 2026*

*Source:Beyond FICO: Vantage Scores, Borrower Behavior and Market Implications with Andrew Davidson © UBS 2026 All rights reserved. Reproduced with permission.

This excerpt has been adapted from a UBS research report for publication on this site. Certain UBS analyst-authored commentary and opinions have been removed. The omitted material was not part of the expert speaker’s remarks. This excerpt therefore does not represent the research report in its entirety.

The Journal of Fixed Income, "Risk-Neutral Prepayment Model: Twenty Years Later," July 2026

Evaluating GSE Servicing Rights with Extended Consumer Credit Data: Valuation and Sensitivity Analysis, April 2026

The Impact of Moving Away From The Tri-Merge Standard, February 2026

"Proposed Rule on Enterprise Capital Requirements Comments/RIN 2590-AA95", originally published in July 2018 and republished in October 2024

Insights On Mortgage Delinquencies And Prepayments From Trended Data, September 2024

The Borrower's Mutual Escrow Fund, December 2023

Prohibition Against Conflicts of Interest in Certain Securitizations, SEC Response, March 2023

Mortgage Bankers Association's Research Institute for Housing America, "A Collection of Essays on Climate Risk and the Housing Market, Volume 2, Conditioning Mortgage Credit Analysis on Climate Risk: General Approach & Florida Case Study", March 2023

National Association of Realtors, "Executive Summary - GSEs: Their Viability as Public Utilities", February 2021

Penn Institute for Urban Research, "GSEs: Their Viability as Public Utilities", January 2021

Optimal Blue, "Credit Insights Through the Pandemic: Crosscurrents", October 2020

Optimal Blue, "Mortgage Pricing Insights", September 2020

Optimal Blue, "Mortgage Pricing Insights", August 2020

Proposed Rule on Enterprise Capital Requirements Comments/RIN 2590-AA95, FHFA Response, August 2020

Optimal Blue, "Mortgage Pricing Insights", July 2020

"Household Utility and Financial Intermediation: A Parable", July 2020

Optimal Blue, "Mortgage Pricing Insights", June 2020

Optimal Blue, "Market Volatility and the Anatomy of Mortgage Rates", March 2020

Structured Finance Association, "Keeping the Mortgage Ecosystem Healthy: Regulation and Industry Self-Governance", February 2020

Mortgage Banker Magazine, "What Do CRT Prices Tell Us About Implied G-Fee?", February 2020

"A Missing Piece of the Administrative Reform Puzzle: How the GSEs Generate Cross-Subsidies", October 2019

"Financial Intermediation and Best Execution", Working Paper, October 2019

National Association of Realtors, "Working Paper: A Vision for Enduring Housing Finance Reform", March 2019

The Borrower's Mutual Insurance Fund, December 2018

"Proposed Rule on Enterprise Capital Requirements Comments/RIN 2590-AA95", FHFA Response, July, October, and November 2018

"Is There A Competitive Equilibrium For The GSEs?", Journal of Structured Finance, Fall 2017

"Four Steps Forward: Streamline, Share Risk, Wrap, and Mutualize", Urban Institute Housing Financing Policy Center Forum, April 2016

"An Overview of GSE Reform", Journal of Structured Finance, Spring 2016

Mortgage Insurer Eligibility, The Federal Housing Finance Agency Response, Fall 2014

Fannie Mae and Freddie Mac Guarantee Fees: Request for Input, Federal Housing Finance Agency/Office of Policy Analysis and Research Response, Fall 2014

The Journal of Structured Finance, "GSE Reform Policy Issues," Spring 2014

Proposed Accounting Standards Update, April 2013

Modeling the Impact of Housing Finance Reform on Mortgage Rates, Bipartisan Policy Center Housing Commission, January 2013

Background Discussion for GSE Risk Sharing Roundtable, February 2012

Risk-Based Capital Guidelines: Market Risk; Alternative Guidelines to Credit Ratings for Debt and Securitization Positions, OCC/FRB/FDIC Response, February 2012

Guidance on Due Diligence Requirements in Determining Whether Investment Securities Are Eligible for Investment, OCC Response, December 2011

Credit Risk Retention, NPR Response, Spring 2011

The Financial Crisis: A Failure of American Enterprise - February 2011

The Journal of Securitization, "The Breakpoint Grid," Fall 2008

Mortgage Risk Magazine, "Show Me the Money," June 2008

The Journal of Portfolio Management, "The Concept of Credit OAS in Valuation of MBS," pp. 41-55, Spring 2008

The Bottom Line, "Improving the Investors' Perspective on Credit Risk: Non-Agency Investors and the Secondary Market," September/October 2006

The Journal of Portfolio Management, "Prepayment Risk-and-Option-Adjusted Valuation of MBS," Volume 31, No. 4, Summer 2005

The Journal of Portfolio Management, "Interest Rate Model Selection: A Conscientious Choice for Mortgage Investors,"-pp. 74-86, Vol. 30, No. 2, Winter 2004

The Journal of Fixed Income, "The Yield Curve & Mortgage Current Coupon," March 2002