Intro. to Asset-Backed Securities, CFA Level I, 2017 Prep
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Intro. to Asset-Backed Securities, CFA Level I, 2017 Prep

Introductory Course on Securitization
5.0 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
2 students enrolled
Last updated 3/2017
English
Current price: $10 Original price: $20 Discount: 50% off
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Includes:
  • 3 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • explain the benefits of securitization for economies and financial markets;
  • describe securitization, including the parties involved in the process and the roles they play;
  • describe typical structures of securitizations, including credit tranching and time tranching;
  • describe types and characteristics of residential mortgage loans that are typically securitized;
  • describe types and characteristics of residential mortgage-backed securities, including mortgage pass-through securities and collateralized mortgage obligations, and explain the cash flows and risks for each type;
  • define prepayment risk and describe the prepayment risk of mortgage-backed securities;
  • describe characteristics and risks of commercial mortgage-backed securities;
  • describe types and characteristics of non-mortgage asset-backed securities, including the cash flows and risks of each type;
View Curriculum
Requirements
  • Students require little to no basic understanding of the financial markets.
Description

Fixed income, known to be one of the largest segments of global financial markets has been rated as one of the most difficult courses by most CFA candidates. This course is divided into three sections as follows:

The first section explains securitization, its benefits for economies and financial markets, and identifies the parties involved in the process and their roles.

The second section discusses the types and characteristics of residential mortgage loans as a precursor to understanding mortgage-backed securities.

The third section introduces and describes the types and characteristics of residential mortgage-backed securities (RMBSs) such as mortgage pass through, prepayment speed, weighted average life, and the inherent prepayment risk.

The fourth section explains  collateralized mortgage obligations (CMOs), risks such as contraction and extension risks and the different CMO structures such as sequential pay tranche, planned amortization class tranche, support trance, etc used in managing prepayment risk, and the cash flows and risks of each type.

The fourth section discusses non-agency residential mortgage-backed securities, types of credit enhancements as well as commercial mortgage-backed securities.

The last section introduces collateralized debt obligations (CDOs) and this is followed with practice questions and quiz to reinforce the concepts learned throughout the course.




Who is the target audience?
  • Chartered Financial Analyst (CFA) Level I Candidates, Traders, Quant Analyst, Portfolio Managers, Investors
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Curriculum For This Course
13 Lectures
02:54:22
+
Securitization
13 Lectures 02:54:22

How Securitization Works Part 1
17:16

How Securitization Works Part 2
11:23

Types and Characteristics of Residential Mortgage Loans
15:42

Types and Characteristics of Residential Mortgage-Backed Securities (RMBS)
17:23

Prepayment Speed, Weighted Average Life, Contraction and Extension Risk Part 1
13:16

Prepayment Speed, Weighted Average Life, Contraction and Extension Risk Part 2
12:41

Collateralized Mortgage Obligations (CMOs) and Structures Part 1
11:02

Collateralized Mortgage Obligations (CMOs) and Structures Part 2
13:29

Non-Agency Residential MBS, Credit Enhancements and Commercial MBS Part 1
19:27

Non-Agency Residential MBS, Credit Enhancements and Commercial MBS Part 2
06:37

Non-Mortgage Asset-Backed Securities (ABS)
15:12

Collateralized Debt Obligations (CDOs)
09:53

Quiz 1
3 questions

Quiz 2
5 questions

Quiz 3
2 questions

Quiz 4
7 questions

Quiz 5
3 questions

Quiz 6
2 questions
About the Instructor
Isom Adiari, CFA, FRM, PRM
5.0 Average rating
1 Review
7 Students
3 Courses
Lead Consultant & Trainer at Finance Analytics

Isom Adiari is an investor fascinated with the stock market. However, like many others, he tried several systems that didn’t work and wasted funds on such trainings and trading systems as technical analysis with little to no value. Fascinated by the workings of the financial system and determined to be a successful investor, he acquired mainstream education covering accounting, finance and quant finance at an advanced level, as well as acquiring some of the most respected and sought-after credentials in finance and investment such as the Chartered Financial Analyst (CFA) designation.

However, the greatest impact on my personal investment comes from my encounter with the legendary investor, Warren Buffett few years back when I started reading his annual Letters to Shareholders and Partnership Letters as well as biographies about him. The more I read, the more I was drawn to him and appreciate why he has been so successful the way he is. I also started reading the works and studying other equally successful investors such as Benjamin Graham, Philip A. Fisher, Joel Greenblatt, etc. and came to appreciate why they are successful. Many years ago, I read an inspiration piece and the message I got was that, one of the shortest cut to success is to copy the methods and strategies of successful men and women in any field of endeavor that one desires to be successful in.

Isom has significant experience in banking covering key areas of risk management, credit structuring, marketing and banking operations. He was an instructor for over 4 years in a local university in Hong Kong. As a passionate teacher, he has been involved in teaching at different times in the course of his career and trains candidates for the Chartered Financial Analyst (CFA) Program.