Andrew Davidson & Co. Inc. (AD&Co) was founded in 1992 by Andrew Davidson, an international leader in the development of financial research and analytics, mortgage-backed securities product development, valuation and hedging.
Alex Levin discusses hurricane effects in Asset Backed Alert, "Hurricanes Take Toll on Risk-Transfer Bonds," September 8, 2017.
Eknath Belbase gives valuable tips for modeling MBS prepayments and defaults as a FiNCAD guest blogger in "MBS Modeling 101," March 1, 2017. Read the eBook here.
Andrew Davidson was quoted in Debtwire, the leading provider of real-time intelligence, analysis and data on distressed debt, leveraged finance and asset-backed markets. The article by Al Yoon is entitled “Bayview Re-Remic Ushers in New Phase for CRT Market,” October 13, 2016.
"U.S. CRT: First Annual Credit Risk Transfer Symposium Held in New York," S&P Global Ratings, Structured FInance Research Update, October 7, 2016.
"Delegates flood inaugural CRT conference," GlobalCapital, October 6, 2016.
“Test of Deeper MI Credit Risk Transfer May Happen Later,” Inside Mortgage Finance, May 27, 2016.
Andrew Davidson was quoted in National Mortgage News article, "Risk-Sharing's Success Creates Accounting Conundrum for GSEs" on May 12, 2016.
Andrew Davidson was mentioned in the National Mortgage News article, "Freddie's 1Q Loss at Odds with Its Risk-Sharing Gains" on May 4, 2016.
Andrew Davidson was interviewed about the future of Fannie and Freddie. Check out the podcast and video interview on the University of Pennsylvania, Wharton's website.
The Journal of Structured Finance published an article entitled, “Making a Case for Deep Cover Mortgage Insurance” by Steve Mackey and Ted Durant of MGIC Investment Corporation that uses two methodologies described in Davidson and Levin’s book Mortgage Valuation Models and uses analysis performed by Andrew Davidson & Co.
Institutional Investor Journals, the leading publisher of practical research in investment management and finance, is pleased to announce the release of the Spring 2016 issue of The Journal of Structured Finance, featuring an article from distinguished industry practitioners including Andrew Davidson, President of Andrew Davidson & Co.
Andy Davidson’s contribution to the Urban Institute’s Housing Finance Policy Center Forum, a new series of essays on the future of housing finance reform is mentioned in MReport's article, Back to Basics: 4 Ways to Transform the GSEs.
Rob Landauer recently attended the MBA Tech Conference in Orlando, Florida. Click here for Eileen O'Grady's report, published in Mortgage News Daily.
Andy Davidson moderated a panel on the state of GSE conservatorship at ABS Vegas 2015.
Asset-Backed Alert published this preview to the discussion. Click here to stream the GSE panel recording.
Eknath Belbase was a member of the panel discussion, "An Overview of the US Housing Market" at ABS Vegas 2015.
Click here to read coverage of the discussion, on housingwire.com. Click here to listen to the panel audio recording.
Alex Levin receives MBA's 2014 Tech All Star Award!
Click here to read the article.
Andrew Davidson & Co was cited as being one of the firms to provide proprietary models to the Federal Reserve in connection with Dodd-Frank Act supervisory stress testing (DFAST 2013). Citation can be found on page 37, footnote #27.
Click here to read the report.
Andy Davidson testified at a Senate Subcommittee hearing about the return of Private Capital to the Mortgage Markets on Tuesday, May 14, 2013.
Click here to
read the written report.
Andy Davidson testified at a Senate Subcommittee hearing about the TBA market on Wednesday, August 3, 2011.
Click here to watch the testimony.
Click here to
read the written report.
Andrew Davidson & Co's 20th Annual Conference is featured in Standard & Poor's Ratings Services RatingsDirect® Research Report - by Mark Adelson, Senior Research Fellow, Standard & Poor's Ratings Services, August 2012
Click here to view report and relevant disclosures.
Richard Ellson, Ph.D and Will Searle featured in Callahan's Credit Union Report, The Use and Misuse of Mortgage Credit Models for OTTI Analysis, The Callahan Report, July 2010.
Andrew Davidson testifies on behalf of the United States Senate Committee on Banking, Housing & Urban Affairs at the Securitization of Assets: Problems and Solutions Hearing: Securities, Insurance, and Investment
Wednesday, October 7, 2009; 2:30 pm
Andrew Davidson considered by NAIC to evaluate insurers’ securities holdings NAIC Calls Ratings Firms To Defend Their Work, National Underwriter, September 10, 2009.
Andrew Davidson offers insight in U.S. Rethinks Roles of Fannie, Freddie - Wall Street Journal December 1, 2008.
Alex Levin interviewed in Discovering the "Hold-to-Maturity" Price in OTS's The Quarterly Review of Interest Rate Risk, Q2 2008.
Andrew Davidson discusses Residential MBS and how it is affected by changing home prices. Andy also discusses what can be done to hedge RMBS risk, a RiskCenter Video exclusive, March 2, 2008.
"Fear and loathing, and a hint of hope," The Economist, February 14, 2008.
Andrew Davidson contemplates the effectiveness of assignee liability and its effects on the lifetime of a loan, as it gets handed down to the borrower, A RiskCenter Video exclusive, December 2, 2007.
"The Last Word of What Went Wrong," The New York Sun, September 18, 2007.
"Defaults on Some 'Alt A' Loans Surpass Subprime Ones," Bloomberg News, July 24, 2007.
"Investor Beware Of Subprime Risk Models," Dow Jones Newswire, July 18, 2007.
"AD&Co sees Modeling Gains," National Mortgage News, February 12, 2007.
"Pricing Models Often Differ From Actual Securities Prices, Some Vendors Warn," Inside Mortgage Finance, Number 48 | December 15, 2006.
"Improving the Investors' Perspective on Credit Risk: Non-Agency Investors and the Secondary Market," The Bottom Line, September/October 2006.
"AD&Co Models Credit Risk as Non-Agency Mortgage Share Rises," Asset Securitization Report, pp. 16-17, Vol. 6/Number 23, June 12, 2006.
"Andrew Davidson & Co., Inc. Jettison's Hybrid ARM Valuations, Creates New, More Reliable Prepay Index," Inside MBS & ABS, April 2006.
"Credit Risk Becoming Increasingly More Relevant to Mortgage Investors," Secondary Marketing Executive, August 2005.
"Prepayment Risk-and-Option-Adjusted Valuation of MBS," The Journal of Portfolio Management, Volume 31, No. 4, Summer 2005.
"FAS-91, FAS-133 And Sarbanes-Oxley Steal Management's Attention in '05," Commercial Mortgage Insight, Vol. 9, No. 5, Summer 2005.
"Interest Rate Model Selection: A Conscientious Choice for Mortgage Investors," The Journal of Portfolio Management, pp. 74-86, Vol. 30, No. 2, Winter 2004.
"A Blueprint for a New Foundation for Government-Sponsored Enterprises," Secondary Marketing Executive, pp. 18-19, Vol. 17, No. 12, November 2003.
"New Disclosures Are a Good Step, but Loan-Level Data is Needed," Secondary Marketing Executive, pp. 4 & 46, Vol. 17, No. 5, April 2003.
"New MBS Disclosures are a Positive Step for the Mortgage Market," The Bottom Line, pp. 5-6, Vol. III, Is. 3, March 2003.
"Interest Rate Modeling: A Conscientious Choice," Financial Engineering News, p.12, Issue No. 30, Mar/Apr 2003.
"Cover: Perils and Phantoms. The Mortgage Securitization Boom is Threatened by Recession, Legislation & Rate Change," Investment Dealer's Digest (IDD), p.26-31, February 3, 2003.
"Mortgage Market Awaits Perfect Storm," Asset Securitization Report, p.14-15, Vol. 3, No. 2, January 13, 2003.
"Viewpoint: Interest Rate Modeling: A Conscientious Choice," The Bottom Line, p. 2-3, Vol II, Is. 11, December 2002.
"Analytic Tools Are Enhanced," Servicing Management p.14, Vol.14, No.4, December 2002.
Levin, Alex. "Mortgage Pricing on Low-Dimensional Grids," Interest Rate, Term Structuring & Valuation Modeling. 1st Edition. Frank J. Fabozzi. Wiley Finance, 2002. pp. 469-488.
"AD&Co Shops New Model for Interest Rates," Asset Securitization Report p.12, October 14, 2002.
Stern, Howard. "In Financial Analysis, It's About Quality." Servicing Management p.23, Vol. 14, No. 2, October 2002.
"The Relationship Between the Yield Curve & the Mortgage Current Coupon," Securitization Conduit Vol. 3, Nos. 3-4, 2000.
"Hybrid ARMs Now Dominate Market," National Mortgage News April 15, 2002.
"Andrew Davidson Updates Prepay Model," National Mortgage News, April 8, 2002.
"The Yield Curve & Mortgage Current Coupon," The Journal of Fixed Income March 2002.
"Defining the Relationship between the Yield Curve and Mortgage Rates," Secondary Marketing Executive July 2001.
"MBS Valuations Linked to Swap Curves," Asset Securitization Report April 23, 2001.
"'Implied' Prepayment Risk Puts a Wrinkle into Servicing Values," Mortgage Servicing News March 2001.
"New Prepayment Model Makes Debut," National Mortgage News February 5, 2001.
"New ARM HEL Prepayment Model Arrives," Mortgage-Backed Securities Letter August 7, 2000.