Cathy A Gay

Title: Innovations by Cathy A Gay

Introduction

Cathy A Gay is a notable inventor based in Vienna, VA (US). She has made significant contributions to the field of mortgage finance through her innovative patents. With a total of 3 patents, her work has had a considerable impact on the mortgage and mortgage-backed securities markets.

Latest Patents

One of her latest patents is a method for structuring, pricing, and settling a current mortgage price indicator contract, known as the Mortgage Futures Contract. This contract can be traded on a futures exchange and adds value over existing hedging and speculating alternatives. It meets the needs of a wide range of mortgage and mortgage-backed securities (MBS) market participants, including portfolio managers, dealers, hedgers, originators, speculators, and arbitrageurs. The Mortgage Futures Contract is based on conventional MBS and features a relatively current coupon composition, resulting in risk properties that appeal to market participants more than prior contracts based on non-conventional MBS. Additionally, the contract includes a cash settlement feature designed to eliminate the complicated and largely uneconomic physical delivery of the underlying security. An options contract corresponding to the Mortgage Futures Contract is also described in her patent.

Career Highlights

Cathy A Gay works at the Federal Home Loan Mortgage Corporation, where she continues to innovate in the mortgage finance sector. Her expertise and contributions have positioned her as a key figure in the industry.

Collaborations

Some of her notable coworkers include Robert J Burns and Mustafa Chowdhury, who collaborate with her on various projects within the organization.

Conclusion

Cathy A Gay's innovative work in mortgage finance has led to the development of valuable financial instruments that enhance market efficiency. Her contributions continue to shape the landscape of mortgage and mortgage-backed securities.