"I applied to the University Scholars Program because I was very interested in learning more about mortgage-backed securities, and I thought that this would be a great way to pursue it. I really wanted a rewarding academic experience that would allow me to implement what I have learned so far in my business curriculum to a research project in a field that I am very curious about. In terms of my goals this academic year, they are to gain a thorough understanding of the 2008 housing crONE.UF and to simply learn as much as I can."
Real Estate, Entrepreneurship, History
My primary academic and research interests include financial securities, macroeconomics, and real estate.
Academic and Other Awards
- Founders Fund Scholarship (2008-current)
- Florida Academic Scholars Award (2008-current)
- Paul and Harriette Franklin Scholarship (2009-2010)
- Kellough Memorial Scholarship (2010)
- Delta Sigma Pi
- Florida Leadership Academy
- Warrington Finance Scholars
- Warrington Diplomats
None directly, although Delta Sigma Pi does provide community service opportunities that I might do.
Hobbies and Interests
- Watching sports and movies, relaxing, and working out.
How the Manipulation of Mortgage Backed Securities Resulted in a Recession
The focus of my project is to find out whether the risk ratings that were issued to mortgage-backed securities in the time leading up to the financial crONE.UF adequately reflected the true default risk level of the underlying securities. My hypothesis is that as time approached the onset of the crONE.UF in 2008, mortgage-backed securities were being imbedded with increasingly risky loans due to the finite amount of prime home buyers in the mortgage market, and after the banks pooled these bad loans into different tranches, rating agencies then gave an inaccurate risk grading to these securities that was based primarily on the seniority of the tranche payout rather than the default risk of the actual payment streams. I will test this hypothesis by gathering financial data off Bloomberg such as the amount of mortgage defaults that certain rating grades experienced. After a comprehensive statistical analysis on mortgage-backed securities' characteristics in the time approaching 2008, I will hopefully be able to make a conclusion regarding whether rating agencies failed to adequately warn investors about the true default risk. I hope that readers of this paper will gain a deeper knowledge of the financial crONE.UF and formulate an opinion that is consistent with the result of my hypothesis test in regards to the role that rating agencies played in catalyzing the recent economic crONE.UF.