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Welcome to the Pipeline, Andrew Davidson & Co., Inc.‘s newsletter, a “pipeline” of relevant and useful information, focused on recent trends, changes, and advances in the mortgage investor’s market.

Issue No. 174 | Dec 2020

FAREWELL TO 2020
Eknath Belbase

As we prepare to say goodbye to a challenging 2020 and look ahead to a more promising 2021, we are publishing two articles in our final Pipeline edition of the year and publishing two entries in our new blog, “The S-Curve”.

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UPCOMING RELEASES: FINANCIAL ENGINEERING TOOLS
Alex Levin

As the troubled year 2020 comes to its end, hopes are high for a better and happier 2021. While a good portion of the passing year was dedicated to dealing with the ongoing COVID crisis, Andrew Davidson & Co., Inc. (AD&Co) is now about to officially upgrade three of its financial engineering (FE) tools: RiskValDynamics (formerly “OAS Subroutine”), and LoanKinetics, now a member of our Kinetics platform and RiskProfiler applications.

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POST-ELECTION INCREASE IN VISIBILITY FOR CLIMATE CHANGE RISK
Eknath Belbase

Even before the national presidential election was called in November, the yield curve had begun to steepen, possibly in anticipation of the greater likelihood of the passage of an additional fiscal stimulus package in early 2021. However, with the composition of the Senate remaining indeterminate until after the Georgia run-offs in early January, it appears to be too early to begin to speculate on the trajectory of fiscal stimulus.

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The Pipeline Archive

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  • Date
  • Issue
  • Author
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Date:
06-2018
Issue:
159
Author:
Andrew Wilcox
Title: MULTIFAMILY LDM AND CHANGING ECONOMIC ENVIRONMENTS
Date:
05-2018
Issue:
158
Author:
Eknath Belbase
Title: THE CRT EDITION'INTRODUCING THE AD&CO CRT INDEX
Date:
05-2018
Issue:
158
Author:
Richard Cooperstein
Alex Levin
Jin Chen
Title: DEMOCRATIZING INVESTMENT IN US MORTGAGE CREDIT RISK: Announcing The AD&Co CRT Total-Rate-of-Return Index
Date:
05-2018
Issue:
158
Author:
Eric Limjoco
Title: A MISSIVE FROM THE FRONT LINE OF AD&CO
Date:
03-2018
Issue:
157
Author:
Eknath Belbase
Title: RATES, SPREADS & CCAR CHANGES
Date:
03-2018
Issue:
157
Author:
Eknath Belbase
Title: THINGS (FINALLY) START CHANGING
Date:
03-2018
Issue:
157
Author:
John Gao
Alex Levin
Daniel Swanson
Title: CCAR 2018: AD&CO'S ANALYTICS AND DATA FILES
Date:
02-2018
Issue:
156
Author:
Eknath Belbase
Title: IS THE ZERO LOWER BOUND PERIOD FINALLY OVER?
Date:
02-2018
Issue:
156
Author:
Daniel Swanson
Title: GRANULAR DELINQUENCY BUCKETS IN LDM 2.2
Date:
02-2018
Issue:
156
Author:
Eknath Belbase
Harry Lijia Qin
Title: A PRIMER FOR STACR AND CAS CREDIT RISK TRANSFER DEALS
Date:
01-2018
Issue:
155
Author:
Eknath Belbase
Title: A NEW YEAR
Date:
01-2018
Issue:
155
Author:
Eknath Belbase
Harry Lijia Qin
Title: TRENDING TRENDS: WHAT CHANGES CAN WE FORECAST FOR 2018?
Date:
01-2018
Issue:
155
Author:
Alex Levin
Title: AN OAS MODEL FOR MULTIFAMILY AGENCY MBS
Date:
01-2018
Issue:
155
Author:
Rose Barnabic
Title: A QUICK LOOK AT THE FIRST CRT BACKED BY HARP REFERENCE POOL
Date:
12-2017
Issue:
154
Author:
Eknath Belbase
Title: MERRY MODELING: MULTIFAMILY & REVERSE MORTGAGES ' Will They Go Down in History*?
Date:
12-2017
Issue:
154
Author:
Alex Levin
Title: ON MULTI-FAMILY HOME PRICE MODELING
Date:
12-2017
Issue:
154
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: AD&CO'S MULTIFAMILY LDM EVALUATES PREPAYMENT AND CREDIT RISK
Date:
12-2017
Issue:
154
Author:
Mackenzie Meadows
Title: THE NEW REVERSE MORTGAGE LANDSCAPE: A PRIMER (PART III OF III)
Date:
10-2017
Issue:
153
Author:
Eknath Belbase
Title: RISING INTO FALL
Date:
10-2017
Issue:
153
Author:
Eknath Belbase
Harry Lijia Qin
Title: SLOW AND STEADY: A LOOK AT QUANTITATIVE TIGHTENING
Date:
10-2017
Issue:
153
Author:
Rose Barnabic
Title: ON THE ROAD WITH ANDREW DAVIDSON & CO
Date:
09-2017
Issue:
152
Author:
Eknath Belbase
Title: HAMMERED BY HARVEY AND IRMA
Date:
09-2017
Issue:
152
Author:
Dan Szakallas
Daniel Swanson
Sanjeeban Chatterjee
Title: HARVEY CAME, SAW, AND CAUSED DESTRUCTION
Date:
09-2017
Issue:
152
Author:
Alex Levin
Title: CURRENT NATURAL DISASTERS AND RELATED CHANGES IN CRT VALUATION
Date:
08-2017
Issue:
151
Author:
Eknath Belbase
Title: SUMMER SUMMARY
Date:
08-2017
Issue:
151
Author:
Eknath Belbase
Title: REMEMBRANCE OF BACKUPS PAST
Date:
08-2017
Issue:
151
Author:
Alex Levin
Harry Lijia Qin
Title: THE DYNAMICS OF AGENCY CREDIT RISK AND IMPLIED G-FEE
Date:
08-2017
Issue:
151
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: IMPLIED G-FEES FOR CRT ISSUANCE
Date:
06-2017
Issue:
150
Author:
Eknath Belbase
Title: STRESSING ABOUT ACCOUNTING (OR CCARED BY CECL)
Date:
06-2017
Issue:
150
Author:
Alex Levin
Lingyu Wu
Title: CCAR 2017: FORWARD VALUATION WITHOUT FORESIGHT ("ADVANCED CCAR")
Date:
06-2017
Issue:
150
Author:
Mickey Storms
Rob Landauer
Swarali Kulkarni
Title: EFFICIENT CECL CHOICES USING AD&CO ANALYTICS
Date:
05-2017
Issue:
149
Author:
Eknath Belbase
Title: A LOOK AT CREDIT RISK TRANSFER, FOUR YEARS AND $1.4 TRILLION LATER
Date:
05-2017
Issue:
149
Author:
Harry Lijia Qin
Title: A COMPARISON OF CREDITPROFILE CATEGORY AND CREDIT RATINGS FOR CRT BONDS
Date:
05-2017
Issue:
149
Author:
Richard Cooperstein
Title: A CAPITAL STANDARD FOR THE GSES
Date:
05-2017
Issue:
149
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: SPECIAL ISSUE ON AGENCY CREDIT RISK TRANSFER (CRT) DEALS
Date:
04-2017
Issue:
148
Author:
Eknath Belbase
Title: BREAKING THE RANGE
Date:
04-2017
Issue:
148
Author:
Sanjeeban Chatterjee
Title: A LOOK AT NON-AGENCY MBS AND FORECLOSURE TIMELINES
Date:
04-2017
Issue:
148
Author:
Dan Szakallas
Title: MOVING ON UP: FROM PREPAYMENT MODEL TO AGENCY LOANDYNAMICS MODEL
Date:
04-2017
Issue:
148
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: AGENCY LDM 2.1.2 BETA PERFORMANCE FOR FANNIE MAE COLLATERAL
Date:
03-2017
Issue:
147
Author:
Eknath Belbase
Title: THE (T)IDES OF MARCH: THE QUIET AFTERMATH OF THE FED MEETING
Date:
03-2017
Issue:
147
Author:
Andrew Wilcox
Title: MODELING FNMA'S DUS LOANS
Date:
03-2017
Issue:
147
Author:
Mackenzie Meadows
Title: THE NEW REVERSE MORTGAGE LANDSCAPE: A PRIMER (PART 2 OF 3)
Date:
03-2017
Issue:
147
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: AGENCY LDM 2.1.2 BETA PERFORMANCE FOR GINNIE MAE II
Date:
02-2017
Issue:
146
Author:
Eknath Belbase
Title: 2017 Outlook: Trends & Risks
Date:
02-2017
Issue:
146
Author:
Eknath Belbase
Harry Lijia Qin
Title: OUTLOOK FOR 2017
Date:
02-2017
Issue:
146
Author:
Andrew Wilcox
Title: THE MULTIPLE DIMENSIONS OF MULTIFAMILY LOANS (PART 3)
Date:
02-2017
Issue:
146
Author:
AD&Co Modeling Team
Title: GRAPHS OF THE MONTH: ECONOMIC AND HOUSING OVERVIEW
Date:
02-2017
Issue:
146
Author:
Alex Levin
Lingyu Wu
Title: CCAR 2017: STRESS SCENARIOS, ANALYTICAL EXTENSIONS AND LOSS PROJECTIONS
Date:
11-2016
Issue:
145
Author:
Eknath Belbase
Title: A Foreshadowing of Inflation
Date:
11-2016
Issue:
145
Author:
Eknath Belbase
Alex Levin
Title: RELATIVE VALUE OF CRT BONDS