Hi there Anyone have any good resources for high level analysis of a subprime investment fund? Aside from the obvious inherent risks, looking for any good resource to establish comparability outside of the LTV, credit bureau, income, down payment etc from the mortgagees. Thinking structural characteristics. Highlevel is fine - think white paper at this point. More in line for comparing between similar funds instead of standalone basis. Greatly appreciate any direction.
I would also be interested to see this! After watching the Big Short I’m curious to learn more
I do the accounting for one. Most of the funds youll find are winding down slowly and not attracting new capital. Most of them were opportunistic funds that raised after the crash to buy crap securities on the cheap, they did a lot of private rsecuritizations and deals to clean them up. They made some pretty solid gains 09-12/13 but the market seems to have peaked for the older private label MBS.
As for how they go about selecting them, no clue. Seems a mix of stuff pricing under .1 per dollar to stuff pricing 1.20 per.