The Securitization Markets Handbook: Structures and Dynamics of Mortgage- and Asset-Backed Securities
Securitization is a corporate funding technique that is widely adopted by financial and industrial companies throughout the world, used to finance both working capital and capital budgets. Importantly, it is also used as a risk management tool and a source of liquidity. Securitization has been adapted to fund corporate acquisitions, capitalize future streams of revenue, and to liquidate pools of nonperforming loans. In this book securitization experts Charles Stone and Anne Zissu provide a practical explanation of how securitization works and explain how future cash flows from various asset classes–from credit card receipts and mortgage payments to movie royalties–can be packaged into bond-like products and sold to investors. The discussion includes descriptions of all major classes of asset-backed securities and offers a practice-oriented commentary on trends in securitization and the value of asset- and mortgage-backed securities across industries and throughout the global markets.
Customer Review: Good Beginning
This book is a great introduction to the field, and also appears to be a great handbook for someone in the trenches. For most practicing attorneys though, the book’s use is limited to understanding the dynamics and basic operation of the practice. A more focused work is recommended for legal professionals.
Customer Review: Not as helpful as it looks
The information provided by this book is limited. It touches several variations of ABS using case studies and market introduction but has done nothing but repeat the securitization process and entities involving the process. It’s ok as an intoduction book but far from a good “handbook”. I would not recommend it for any quants or traders as it tells not much about how to model and hedge ABS’s.
The Securitization Markets Handbook: Structures and Dynamics of Mortgage- and Asset-Backed Securities