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

Trainer Profile

Please contact info@ifsskillnet.ie for further information on training providers.