Book description
A step-by-step guide to implementing and closing securitization transactions
Securitization is still in wide use despite the reduction in transactions. The reality is that investors and institutions continue to use this vehicle for raising funds and the demand for their use will continue to rise as the world's capital needs increase.
The Mechanics of Securitization specifically analyzes and describes the process by which a bank successfully implements and closes a securitization transaction in the post subprime era. This book begins with an introduction to asset-backed securities and takes you through the historical impact of these transactions including the implications of the recent credit crisis and how the market has changed.
Discusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors
Reviews due diligence and cash flow analysis techniques
Examines credit and cash considerations as well as how to list and close deals
Describes the process by which a bank will structure and implement the deal, and how the process is project managed and tested across internal bank departments
While securitization transactions have been taking place for over twenty-five years, there is still a lack of information on exactly how they are processed successfully. This book will put you in a better position to understand how it all happens, and show you how to effectively implement an ABS transaction yourself.
Table of contents
- Cover
- Series Page
- Title Page
- Copyright
- Dedication
- Foreword
- Preface
- Part One: Introduction to Securitization
- Part Two: Guide to Closing a Securitization Transaction
-
Part Three: Transaction Closing Templates and Checklists
-
Chapter 6: Transaction Templates and Checklists
- Red Sea Master Series Limited Structure Diagram
- Underlying Asset Pool
- Draft Term Sheet
- Closing Process
- Structuring Notes
- Rating Agency Preparation and Questionnaire
- Loan-Level Data: Rating Agency Checklist
- Agenda for Rating Agency Site Visit
- Legal Counsel Review
- Form of Transfer Certificate
- Investor and Rating Agency Presentation Template
- In-House Credit Rating Mapping Chart: Lower and Upper Values
- Rating Agency Presentation: Corporate Bank Origination Processes
- Loan Transfer Schedule of Tasks
- Loan Transfers, Accounting Movements
- Sign-Off Document: Securitization Project
- Securitization Testing: Finance Department
- Accounting Process on Closing
- EUR Junior Tranche Trade Ticket
- Senior Tranche Trade Ticket
- Internal Transfer Booking Process
- Questions from Trustee, Paying Agent, and Services Provider
- Summary and Conclusions
-
Chapter 6: Transaction Templates and Checklists
- About the Authors
- Index
Product information
- Title: The Mechanics of Securitization: A Practical Guide to Structuring and Closing Asset-Backed Security Transactions
- Author(s):
- Release date: January 2013
- Publisher(s): Wiley
- ISBN: 9781118234549
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