{"product_id":"the-mechanics-of-securitization-9780470609729","title":"The Mechanics of Securitization","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eA step-by-step guide to implementing and closing securitization transactions\u003c\/b\u003e  \u003cp\u003eSecuritization 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eThe Mechanics of Securitization\u003c\/i\u003e 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDiscusses, in great detail, rating agency reviews, liaising with third parties, marketing the deals, and securing investors\u003c\/li\u003e \u003cli\u003eReviews due diligence and cash flow analysis techniques\u003c\/li\u003e \u003cli\u003eExamines credit and cas\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Introduction to Securitization 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Introduction to Securitization and Asset-Backed Securities 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Concept of Securitization 4\u003c\/p\u003e \u003cp\u003eThe Process of Securitization 7\u003c\/p\u003e \u003cp\u003eSecuritizing Mortgages 14\u003c\/p\u003e \u003cp\u003eABS Structures: A Primer on Performance Metrics and Test Measures 18\u003c\/p\u003e \u003cp\u003eSecuritization: Features of the 2007–2008 Financial Crisis 24\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 33\u003c\/p\u003e \u003cp\u003eReferences 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Securitization Market Post-2007 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMarket Observation 35\u003c\/p\u003e \u003cp\u003eImpact on Rating Agencies 40\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 42\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Guide to Closing a Securitization Transaction 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Structuring and Execution of a Transaction 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Securitization Process 47\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Rating Agency Process and Legal Review 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSelect Rating Agencies 71\u003c\/p\u003e \u003cp\u003eUndertaking Legal Due Diligence 73\u003c\/p\u003e \u003cp\u003eBegin Drafting Documents 78\u003c\/p\u003e \u003cp\u003eSet Up the SPV 82\u003c\/p\u003e \u003cp\u003eModeling the Transaction 85\u003c\/p\u003e \u003cp\u003eDetermine Capital Structure\/Trigger Levels 90\u003c\/p\u003e \u003cp\u003ePrepare Marketing Materials 96\u003c\/p\u003e \u003cp\u003ePricing, Close, and Settlement 98\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Static Synthetic CDO Cash Flow Waterfall Model 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 107\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Transaction Closing Templates and Checklists 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Transaction Templates and Checklists 113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRed Sea Master Series Limited Structure Diagram 113\u003c\/p\u003e \u003cp\u003eUnderlying Asset Pool 113\u003c\/p\u003e \u003cp\u003eDraft Term Sheet 120\u003c\/p\u003e \u003cp\u003eClosing Process 126\u003c\/p\u003e \u003cp\u003eStructuring Notes 127\u003c\/p\u003e \u003cp\u003eRating Agency Preparation and Questionnaire 129\u003c\/p\u003e \u003cp\u003eLoan-Level Data: Rating Agency Checklist 138\u003c\/p\u003e \u003cp\u003eAgenda for Rating Agency Site Visit 140\u003c\/p\u003e \u003cp\u003eLegal Counsel Review 140\u003c\/p\u003e \u003cp\u003eForm of Transfer Certificate 144\u003c\/p\u003e \u003cp\u003eInvestor and Rating Agency Presentation Template 147\u003c\/p\u003e \u003cp\u003eIn-House Credit Rating Mapping Chart: Lower and Upper Values 149\u003c\/p\u003e \u003cp\u003eRating Agency Presentation: Corporate Bank Origination Processes 149\u003c\/p\u003e \u003cp\u003eLoan Transfer Schedule of Tasks 154\u003c\/p\u003e \u003cp\u003eLoan Transfers, Accounting Movements 158\u003c\/p\u003e \u003cp\u003eSign-Off Document: Securitization Project 160\u003c\/p\u003e \u003cp\u003eSecuritization Testing: Finance Department 161\u003c\/p\u003e \u003cp\u003eAccounting Process on Closing 166\u003c\/p\u003e \u003cp\u003eEUR Junior Tranche Trade Ticket 167\u003c\/p\u003e \u003cp\u003eSenior Tranche Trade Ticket 168\u003c\/p\u003e \u003cp\u003eInternal Transfer Booking Process 169\u003c\/p\u003e \u003cp\u003eQuestions from Trustee, Paying Agent, and Services Provider 169\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 172\u003c\/p\u003e \u003cp\u003eAbout the Authors 173\u003c\/p\u003e \u003cp\u003eIndex 175\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default 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