Securitization - Part 2


This eCourse consists of two modules. Module 1 looks at how securitization has evolved to face the challenges presented by different asset classes. In addition to descriptions of some of the major classes outside of RMBS, the module also examines how the markets for the associated securities operate and how valuation techniques have been developed to cope with the idiosyncrasies associated with securitization.

Module 2 focuses on European mortgage-backed securities (MBS). It is important to analyze MBS in Europe, as distinct from the United States, as there are important differences


On completion of this course, you will be able to:
- Explain how the securitization technique has extended beyond its roots in the US residential mortgage market
- Describe the various asset-independent structures of securitization
- Identify the key factors in a securitization that are examined by investors, rating agencies, or other analysts
- Explain how measurements of value have evolved beyond simple fixed interest paradigms
- Define the structure and mechanics of a European mortgage-backed security (MBS)
- Identify the criteria used to analyze and rate a European MBS
- Describe how the European MBS market evolved

Content Highlight

Module 1: Securitization - Asset-Backed Securities (ABS)
Topic 1: Overview of the ABS Market
Topic 2: Asset-Independent Structures
Topic 3: Key Factors

Module 2: Securitization - European Mortgage-Backed Securities
Topic 1: Basics of Mortgage Backed-Securities
Topic 2: Analyzing & Rating MBS Transactions
Topic 3: Evolution of the European MBS Market

Administrative Details

SFC:3.00, PWMA:3.00
All Member: HKD870
Non-Member: HKD1,230
Staff of Corporate Member: HKD870