Credit Risk Assessment: The New Lending System For Borrowers, Lenders, And Investors 9780470461686 fb2 pdf azw3 网盘 rtf 免费 下载 txt

　　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.

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　　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.

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媒体评论

&"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

书籍介绍

"Clark and Mingyuan start with an insightful and comprehensive description 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 and Technology magazine