Asset-Backed Securities

by Bhattacharya, Anand K.; Fabozzi, Frank J.

• ISBN13: 9781883249106
• ISBN10: 1883249104
• Edition: 1st
• Format: Hardcover
• Copyright: 1996-09-15
• Publisher: Wiley

Summary

Asset-Backed Securities provides comprehensive coverage of the major asset-backed securities, structuring issues, and relative value analysis from the leading experts in the field. Comprehensive coverage includes the expanding frontiers of asset securitization, introduction to ABS accounting, trends in the structuring of ABSs, and prepayment nomenclature in the ABS market.

Author Biography

Anand K. Bhattacharya is Senior Vice President and Director of Fixed Income Securities at Prudential Securities, Inc.

Table of Contents

Contributing Authors	iv	(3)
Acknowledgements	vii	(1)
Index of Advertisers	viii
Part I: General	1	(62)
1. The Expanding Frontiers of Asset Securitization	1	(20)
Anand K. Bhattacharya
Frank J. Fabozzi
2. Securitization in Europe	21	(42)
Paul Taylor
Part II: Product Areas	63	(175)
3. Credit-Card Receivables	63	(22)
Robert Karr
Greg Richter
R. J. Shook
Lirenn Tsai
4. Auto Loan-Backed Securities	85	(18)
Thomas Zimmerman
Leo Burrell
5. Manufactured Housing Securities	103	(16)
Thomas Zimmerman
Inna Koren
6. Analysis of Manufactured Housing-Backed Securities	119	(10)
John N. Dunlevy
Andrew Shook
7. Introduction to the B&C Home-Equity Loan Market	129	(8)
Morton Dear
Len Blum
8. Evolution of the B&C Home-Equity Loan Securities Market	137	(10)
Henry C. McCall III
Len Blum
9. Equipment Lease-Backed Securities	147	(22)
John Lucas
Thomas Zimmerman
10. SBA Loan-Backed Securities	169	(10)
Donna Faulk
11. The Securitization of Health-Care Receivables	179	(8)
Vincent T. Pica
Anand K. Bhattacharya
12. The Commercial Property Market and Underwriting Criteria for Commercial Mortgages	187	(20)
Jonathan Adams
13. CMBS Structures and Relative Value Analysis	207	(20)
Jonathan Adams
14. Investing in Interest-Only Commercial Mortgage-Backed Securities	227	(10)
Jonathan Adams
Inna Koren
Lina Hsu
Part III: Structuring Considerations	237	(94)
15. Structuring Efficient Asset-Backed Transactions	237	(32)
Len Blum
Chris DiAngelo
16. A Rating Agency Perspective on Asset-Backed Securitization	269	(8)
Suzanne Michaud
17. Credit Enhancement in ABS Structures	277	(8)
Lina Hsu
Cyrus Mohebbi
18. Early Amortization Triggers	285	(6)
Anand K. Bhattacharya
19. Home-Equity Loan Floaters	291	(8)
Lirenn Tsai
Cyrus Mohebbi
20. Dynamics of Cleanup Calls in ABS	299	(6)
Thomas Zimmerman
21. ABS B-Pieces	305	(26)
Thomas Zimmerman
Part IV: Relative Value Considerations	331	(38)
22. Prepayment Nomenclature in the ABS Market	331	(10)
Anand K. Bhattacharya
23. Evaluation of ABS Prepayments	341	(16)
Anand K. Bhattacharya
24. Z-Spreads	357	(12)
Anand K. Bhattacharya
Carol Sze
Part V: Accounting Considerations	369	(14)
25. Introduction to ABS Accounting	369	(14)
Len Blum
Evan Mitnick
Index	383