Accessing Capital Markets Through Securitization

by Fabozzi, Frank J.

• ISBN13: 9781883249922
• ISBN10: 1883249929
• Edition: 1st
• Format: Hardcover
• Copyright: 2001-05-02
• Publisher: Wiley

Summary

This innovative collection, written by securitization professionals and edited by finance guru Frank Fabozzi, thoroughly explains the basics and the mechanics of securitization and shows how securitization can help more institutions offer innovative fixed-income products. Further, it discusses the effects of the capital markets on securitization and helps financial professionals decide whether or not to securitize. Filled with strategies and techniques, financial professionals will learn how to use float asset-backed offerings and how to hedge against risk and default.

Author Biography

Frank J. Fabozzi, Ph.D., CFA, is a financial consultant, the editor of the Journal of Portfolio Management, and an Adjunct Professor of Finance at Yale University's School of Management strategic choices of asset sales; as well as MBS/ABS Loss terminology.

Table of Contents

Contributing Authors
Market Innovation in Securitization and Structured Finance	1	(12)
Daniel Singer
Securitization Basics	13	(12)
Daniel Singer
The Anatomy of a Securitization	25	(10)
Brent M. Lockwood
David Mond
Frank J. Fabozzi
Credit Enhancement in ABS Structures	35	(6)
Lina Hsu
Cyrus Mohebbi
Observations on Effecting Your First Asset-Backed Securities Offering	41	(22)
Kenneth P. Morrison
To Securitize or Not?	63	(10)
Shane A. Johnson
Strategies for Community Bankers	73	(20)
Joseph F. Sinkey Jr.
The Structure, Economics, and Risk of Conduits	93	(18)
Peter J. Elmer
FASIT Flexibility Applied to Subprime Securitizations	111	(10)
Phillip R. Pollock
Michael E. Shaff
Strategic Choices in Asset Sales	121	(20)
Albert E. Avery
The Measurement of Prepayments and Defaults in ABS Markets	141	(12)
Anand K. Bhattacharya
Understanding MBS/ABS Loss Terminology	153	(8)
Thomas Zimmerman
Developing the Prospectus Prepayment Curve for Real Estate Backed Structured Products	161	(10)
Bradley Adams
Glenn Schultz
Securitization and Other Structured Finance Techniques for Equipment Leasing Companies	171	(22)
Jojy Vaniss Mathew
Manufactured Housing Securitization	193	(12)
Paul N. Watterson Jr.
Shlomo C. Twerski
Craig S. Stein
Promoting Securitization in Emerging Economies	205	(12)
Bharat A. Jain
Appendix: Glossary of Frequently Used Terms in Asset Securitization	217	(24)
Kenneth P. Morrison
Index	241