Rebirth 79: I opened a bank in the United States

Chapter 452 Mortgage Transfer Securities
"If the big construction wave in New Haven doesn't start, or if it starts very badly, then wait and see! Didn't we get a community policing company in New Haven? If the big construction goes well, it can To gain more income, at least in the early days, the construction of New Haven’s urban police force cannot keep up with the speed of large infrastructure construction, this is an opportunity for our B-5 policing.”

"Of course, if it doesn't go well, yes. Even if the law and order becomes more chaotic and the treatment of the town police is lower, the citizens' demand for law enforcement services will also be stronger. So in my opinion, if the situation is unfavorable, then we can only We need to wait and see, whether the situation in New Haven is getting better or worse, we have room to make a profit. But from an emotional point of view, I still hope that it can develop better!"

After Rick finished speaking, Carter continued to make up the good plan:
"If the next step in New Haven, or the next move is what we expect, then my workers, low-cost building materials can come over."

Carter smacked his mouth, and suddenly realized that the taste was not right.
Purely only accepting engineering and construction orders, the income is undoubtedly not in line with my expectations.To expand profits, the bank must be opened, no, it should be said to be a brand new commercial bank affiliated to Heiqi Bank Holding Company.

So the question is, where does the registered capital come from?After it comes, can MBS be issued? To be precise, can it be issued in this era, and is there any legal risk?Will the market buy it?
Think about the fact that you will soon get an airplane, and you will need to spend a lot of money.Carter found helplessly that at the moment, it seems that no matter whether the situation in New Haven is good or bad, it is difficult to achieve his expected goal of making money.

To put it simply, it is four words: the background is too bad!
The basic assets are low. Even if the cash flow is good, there are many outlets that cannot hold water: whether it is annexation of township savings banks, community policing, etc. A series of projects are launched. Even if the prospects are good, in a short period of time, I am There is no more tossing about!

This is very uncomfortable!

As the saying goes, when I sit up in shock from a dying illness, the clown turns out to be myself.
When Jim Rogers said that he was addicted to making money, Carter still laughed at him, but now he turned around and found that he seemed to be the same?

Seeing opportunities to make money appear in front of your eyes, but you can't do it yourself, it feels like there are ants crawling on your body.
Under the twists and turns, Carter's end-of-semester review was naturally a mess.

However, before the results came out, this did not affect Carter's mood.

With the advent of Thanksgiving in 1981, Carter, who had no class, couldn't wait to drive to New York the day before the holiday.While visiting old friends, also find out about the issuance of MBS in the public bond market
After about a year and a half, I stepped into Tiger Asset Management again.Carter almost thought for a moment that he had come to the wrong place.
What used to be the automatic quotation machine outside the trading hall has become an independent office. In addition to the telephone, personal computers have also begun to appear on the desks in the trading hall.It's just that there are not as many computers as there will be in the investment banking trading hall in the future. Almost every trader has eight screens in front of them.
Now almost every one or two places, there will be a computer, and from time to time you can see someone going up and crackling, knocking something, and then changing to another person to continue
The market information transmitter was also assigned to each table, and the pillars in the hall were surrounded by a circle of big-ass TVs.All kinds of news channels are placed there, even if no one is watching at all, they may not even hear what the host is talking about in the news.
The entire trading floor is as noisy as a vegetable market, no, it should be said to be more exaggerated than the vegetable market!

The boss's office, which was next to his supervisor's office, was also converted into a utility room at this time.According to the administrative staff: Julian usually stays on the trading floor, and the utilization rate of this office is too low, so it was simply abandoned. At the beginning, the warehouse was equipped with some ordered periodicals, institutional research reports, etc., and he may be hired later. Let professionals related to file management come over and set up a file room, so that traders can inquire all kinds of information they need.

Waited until four o'clock in the afternoon, the U.S. stock market closed, and the noise began to weaken.Carter just stepped into the trading floor, and found Julian in front of a trader's seat
"Aren't you so busy running a fund?!"

Among the traders who asked Julian to report various matters, they waited for another half an hour.Only then did Carter talk to Julian, and the latter was obviously a little dazed when he saw Carter suddenly appearing in front of him, and then a smile bloomed on his face:
"What's wrong with the fund? Do you think that the fund is immovable? You should care about it, and as more people invest in us, the scale of funds we manage will increase. The scale is large, and things need to be done. Quite a lot! Wait a minute, let me arrange a time to have dinner together at night?"

"Of course, there are some things I want to consult with you."

"Mortgage mortgage securitization, you mean mortgage transfer securities?"

At about six o'clock in the evening, in the restaurant.

Suddenly hearing Julian's detailed name, Carter was a little surprised that there was already an MBS, but also a little excited.
This shows that MBS distribution can be operated now!
In order to determine whether what the other party said was the same as what he said, Carter continued to ask:
"It is a security that transfers the borrower's repayment income right to the investor? Is this what you said?"

"Almost, it's this thing. Why, do you have a lot of mortgages now?"

"That's quite a lot. There should be a scale of tens of millions of dollars. Although the annualized interest rate is not bad for such a large amount of money, the liquidity is too poor and the cycle is a bit long. I have just started a project, no. I have no money in hand, so I want to consult you about the feasibility of this method. If there is already such a product in the bond market, that would be great!"

"Don't be too happy, this is not necessarily easy to operate. I don't operate much in the bond market, but I have understood it. It is the Federal National Mortgage Association that issues mortgage transfer securities, although according to the Housing and Urban Development Act of 68 , the nature of the association has changed from a federal agency to a private housing credit company, but you should be able to know what's going on here if you just look at it without changing its name, right?"

After Julian shook his head slightly, he suddenly nodded again:

"However, it has been more than ten years since they issued the first mortgage transfer securities. Maybe this gap will be loosened. It may not be impossible to operate, but the current issuer in this market is almost the only one of Fannie Mae. Big. If you want to take out your own mortgage income rights for financing, it is basically equivalent to selling them directly, and the follow-up income from this mortgage has nothing to do with you, you have to think about it carefully.”

(End of this chapter)