Company Filing History:
Years Active: 2008-2011
Title: Gary D. Kain: Innovator in Mortgage Futures Contracts
Introduction
Gary D. Kain is a notable inventor based in Herndon, VA (US). He has made significant contributions to the field of finance, particularly in the area of mortgage futures contracts. With a total of 3 patents to his name, Kain has developed innovative solutions that address the complexities of mortgage pricing and trading.
Latest Patents
One of Kain's 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 often uneconomic physical delivery of the underlying security. An options contract corresponding to the Mortgage Futures Contract is also described in his patent.
Career Highlights
Gary D. Kain works at the Federal Home Loan Mortgage Corporation, where he continues to innovate in the financial sector. His work has had a profound impact on how mortgage futures are structured and traded, providing valuable tools for market participants.
Collaborations
Kain has collaborated with notable colleagues, including Robert J. Burns and Mustafa Chowdhury, to further advance the field of mortgage finance.
Conclusion
Gary D. Kain's contributions to the development of mortgage futures contracts demonstrate his innovative spirit and commitment to improving financial instruments. His patents reflect a deep understanding of market needs and a dedication to enhancing the efficiency of mortgage trading.