Asset-Backed Securities


Asset-Backed Securities provides a comprehensive coverage of the major asset-backed securities, structuring issues, and relative value analysis from the leading experts in the field. A collection of articles from various professionals discussing the details of investing in asset-backed securities is also included. The main topics addressed include expanding frontiers of asset securitization, introduction to ABS accounting, trends in the structuring of ABSs, analysis of ABS, and prepayment nomenclature in the asset-backed securities market.

Table of Contents

Contributing Authors


Index of Advertisers

Part I. General

  1. The Expanding Frontiers of Asset Securitization

  2. Securitization in Europe

Part II. Product Areas

  1. Credit-Card Receivables

  2. Auto Loan-Backed Securities

  3. Manufactured Housing Securities

  4. Analysis of Manufactured Housing-Backed Securities

  5. Introduction to the B&C Home-Equity Loan Market

  6. Evolution of the B&C Home-Equity Loan Securities Market

  7. Equipment Lease-Backed Securities

  8. SBA Loan-Backed Securities

  9. The Securitization of Healthcare Receivables

  10. The Commercial Property Market and Underwriting Criteria for Commercial Mortgages

  11. CMBS Structures and Relative Value Analysis

  12. Investing in Interest-Only Commercial Mortgage-Backed Securities

Part III. Structuring Considerations

  1. Structuring Efficient Asset-Backed Transactions

  2. A Rating Agency Perspective on Asset-Backed Securitization

  3. Credit Enhancement in ABS Structures

  4. Early Amortization Triggers

  5. Home-Equity Loan Floaters

  6. Dynamics of Cleanup Calls in ABS

  7. ABS B-Pieces

Part IV. Relative Value Considerations

  1. Prepayment Nomenclature in the ABS Market

  2. Evaluation of ABS Prepayments

  3. Z-Spreads

Part V. Accounting Considerations

  1. Introduction to ABS Accounting