Credit Risk Assessment: The New Lending System For Borrowers, Lenders, And Investors 9780470461686pdf/txt下载_在线阅读全文

当前位置:首页 > 管理 > 英文原版书-管理 > Credit Risk Assessment: The New Lending System For Borrowers, Lenders, And Investors 9780470461686

内容简介

　　Existing credit risk assessment methods have put too much ofan emphasis on past loan performance and historical marketconditions and not enough on borrower capacity, new mortgageproduct risk characteristics, and economic cycles. According toindustry practitioners Clark Abrahams and Mingyuan Zhang, thehousing market bubble boom and burst and the subsequent financialcrisis could have been prevented had these underwriting gaps beenproperly addressed.
　　Credit Risk Assessment: The New Lending System for Borrowers,Lenders, and Investors equips you with an effective comprehensivecredit assessment framework (CCAF) that can provide early warningof risk, thanks to its forward-looking analyses that do not rely onthe premise that the past determines the future. Revealing how anexisting credit underwriting system can be extended to embrace allrelevant factors and business contexts in order to accuratelyclassify credit risk and drive all transactions in a transparentmanner, Credit Risk Assessment clearly lays out the facts.

Existing credit risk assessment methods have put too much of
an emphasis on past loan performance and historical market
conditions and not enough on borrower capacity, new mortgage
product risk characteristics, and economic cycles. According to
industry practitioners Clark Abrahams and Mingyuan Zhang, the
housing market bubble boom and burst and the subsequent financial
crisis could have been prevented had these underwriting gaps been
properly addressed. 
　　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 Assess-ment
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 under-writing
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 
　　Whether you are a borrower, a lender, or an investor, Credit Risk
Assessment enables you to better understand the weaknesses in
today's loan underwriting and to better cope with financial
weaknesses toward fostering a new generation of credit models that
possess greater transparency.

显示全部信息

作者简介

　　CLARK ABRAHAMS is Chief Financial Architect at SAS, where he leads business and product development. He has over thirty years of experience in the financial services industry with corporations including Bank of America and Fair Isaac Corporation.
　　MINGYUAN ZHANG, PhD, is Principal Consultant at SAS. He has over ten years of experience in developing and implementing economic forecasting, data mining, and financial risk management solutions for thefinancial services industry.

媒体评论

"Clark and Mingyuan start with an insightful andcomprehensive de*ion of how market participants contributed tothe current crisis in the residential mortgage markets and the rootcauses of the crisis. They then proceed to develop a newresidential mortgage lending system that can fix our broken marketsbecause it addresses the root causes. The most impressiveattributes of their new system is its commonsense return to thebasics of traditional underwriting, combined with factors based onexpert judgment and statistics and forward-looking attributes, allof which can be updated as markets change. The whole process istransparent to the borrower, lender, and investor. "
　　—Dean Schultz, President and CEO, Federal Home Loan Bank of SanFrancisco
　　 "The credit market crisis of 2008 has deeply affected theeconomic lives of every American. Yet, its underlying causes andits surface features are so complex that many observers and evenpolicymakers barely understand them. This timely book will helpguide nonspecialists through the workings of financial markets,particularly how they value, price, and distributerisk. "

&"Clark and Mingyuan start with an insightful and
comprehensive de*ion 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

显示全部信息

Credit Risk Assessment: The New Lending System For Borrowers, Lenders, And Investors 9780470461686下载

Credit Risk Assessment: The New Lending System For Borrowers, Lenders, And Investors 9780470461686

发布书评

相关图书推荐