Start Dates: TBC
Duration: 1 Day
Full Fee: €600
Network Members Fee: €350
Programme overview
Securitization is the process by which loans or receivables are pooled together and converted into marketable securities. Cash flows from the loans or receivables support payments on the related securities. This course covers the process of securitization and looks in detail at both mortgage-backed (including the commercial and European markets) and asset-backed securities.
Learning outcomes:
Securitization is the process by which loans or receivables are pooled together and converted into marketable securities. Cash flows from the loans or receivables support payments on the related securities. This course covers the process of securitization and looks in detail at both mortgage-backed (including the commercial and European markets) and asset-backed securities.
Who is the course for?
This programme is suitable for financial markets participants in the middle office or in operations teams. It is also suitable for analysts and associates early in their careers or needing cross training.
Assumed knowledge
This programme assumes a good knowledge of financial math and fixed income bonds eg Gilts or US Treasuries.
Course Content:
Online pre-work
- Securitization – An Introduction – 90 minutes
- Securitization – CDOs – An Introduction – 60 minutes
Workshop Outline
- What is securitization?
- SPV
- ABS
- MBS
- Agency vs. non agency
- Mortgage characteristics
- Types of mortgages
- Subprime crisis
- Mortgage cash flows
- Weighted average life
- Prepayment speed, SMM, and PSA
- CDOs
- Balance Sheet CDOs
- Arbitrage CDOs
- CMOs
- The Impact of the Dodd-Frank Act
Online post-work
- Securitization – Asset-Backed Securities (ABS) – 120 mins
- Securitization – CDOs – Structures & Ratings – 75 minutes
- Securitization – Commercial Mortgage-Backed Securities – 75 minutes
- Securitization – Credit Card ABS – 75 minutes
Securitization – European Mortgage-Backed Securities – 75 minutes