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Lewis S. Ranieri (/ r ə n i ˈ ɛ r i /; born 1947) is a former bond trader, and founding partner and current chairman of Ranieri Partners, a real estate firm. [1]He is considered the "father" of mortgage-backed securities and co-founder of mortgage-backed securities with Anthony J. Nocella former CEO of Franklin Bank, for his pioneering role in their emergence in the 1970s, during his tenure ...
Liar's Poker is a non-fiction, semi-autobiographical book by Michael Lewis describing the author's experiences as a bond salesman on Wall Street during the late 1980s. [1] First published in 1989, it is considered one of the books that defined Wall Street during the 1980s, along with Bryan Burrough and John Helyar's Barbarians at the Gate: The Fall of RJR Nabisco, and the fictional The Bonfire ...
Lewis Ranieri, "father" of mortgage-backed securities, headed the mortgage bonds desk at Salomon and reached the post of vice chairman. [ 40 ] John Gutfreund , former chairman and CEO of Salomon Brothers who made the firm public.
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In the late 1970s, a team from Salomon Brothers worked with Bank of America to create the first residential-mortgage backed security that wasn't government-guaranteed. [13] A Salomon Brothers' bond-trader by the name of Lewis Ranieri was instrumental in this effort.
The Salomon Brothers team was led by Lewis Ranieri and the First Boston team by Laurence D. Fink, [2] although Dexter Senft also later received an industry award for his contribution [3]). Legally, a CMO is a debt security issued by an abstraction—a special purpose entity —and is not a debt owed by the institution creating and operating the ...