Mortgage & Asset Backed Securities

The Mortgage & Asset Backed Securities Seminar is designed to give attendees an in-depth knowledge of these securities. The marketplace for these instruments and their derivatives has grown tremendously in the past decade and this growth has caused a great increase in the complexity of these securities. This seminar will help the attendee gain a thorough understanding of how these instruments are structured, why they behave the way they do and the accounting and systems concerns which pertain to them.

During the Mortgage & Asset Backed Securities Seminar the attendee will focus on gaining a broad, comprehensive knowledge of the various types of mortgage and asset backed securities which are bought and owned by institutional investors. We discuss why these instruments are created, how they are packaged and why institutional investors buy them. Since they make up a large portion of many organizations' holdings, there is a concentration on the various agency mortgage pools. There is also substantial time spent on CMO and REMIC issues. A portion of the course deals with the many types of asset backed securities which are available today. All of the information management issues regarding these securities are covered in detail.

The Mortgage & Asset Backed Securities Seminar is ideal for anyone who needs to gain a comprehensive knowledge of the many variations of mortgage and asset backed securities available in today's marketplace. Attendees will also build an understanding of the many derivative securities as well as the language associated with them.

DAY ONE

• Introduction/Course Objectives
• Fixed Income Principles
  • Types Of Mortgages and Mortgage Pools
• Agency Securities
  • GNMA, FNMA, FHLMC, Pools and TBAs
  • FASB 91 - Contractual and Retrospective
  • Prepayment Models - CPR and PSA
  • Settlement and Good Delivery

DAY TWO

• CMOs- Structure, REMICs, Sequentials, PACs and TACs
• "Z" Tranches
• Floaters and Inverse Floaters
• Stripped Mortgage Backed Securities
  • IOs and POs
• Asset Backed Securities
• Regulatory Proposals for MBS and ABS