This chapter in The Handbook of Mortgage-Backed Securities explains:

• the types of floating-rate mortgage securities and their structural characteristics; 
• mechanisms for creating a floating-rate mortgage security backed by fixed-rate collateral; 
• investment characteristics and risks of floating-rate mortgage securities; 
• factors affecting the valuation of floating-rate mortgage securities and metrics used to analyze their value; and
• historical issuance trends for floating-rate mortgage securities.