The Mechanics of Securitization · A Practical Guide to Structuring and Closing Asset-Backed Security Transactions by Suleman Baig, Moorad Choudhry -- Read -- Imperial Library of Trantor

Index

Cover Series Page Title Page Copyright Dedication Foreword Preface Part One: Introduction to Securitization

Chapter 1: Introduction to Securitization and Asset-Backed Securities

The Concept of Securitization The Process of Securitization Securitizing Mortgages ABS Structures: A Primer on Performance Metrics and Test Measures Securitization: Features of the 2007–2008 Financial Crisis Summary and Conclusions References

Chapter 2: The Securitization Market Post-2007

Market Observation Impact on Rating Agencies Summary and Conclusions

Part Two: Guide to Closing a Securitization Transaction

Chapter 3: Structuring and Execution of a Transaction

A Securitization Process Summary and Conclusions

Chapter 4: The Rating Agency Process and Legal Review

Select Rating Agencies Undertaking Legal Due Diligence Begin Drafting Documents Set Up the SPV Modeling the Transaction Determine Capital Structure/Trigger Levels Prepare Marketing Materials Pricing, Close, and Settlement Summary and Conclusions

Chapter 5: Static Synthetic CDO Cash Flow Waterfall Model

Summary and Conclusions

Part Three: Transaction Closing Templates and Checklists

Chapter 6: Transaction Templates and Checklists

Red Sea Master Series Limited Structure Diagram Underlying Asset Pool Draft Term Sheet Closing Process Structuring Notes Rating Agency Preparation and Questionnaire Loan-Level Data: Rating Agency Checklist Agenda for Rating Agency Site Visit Legal Counsel Review Form of Transfer Certificate Investor and Rating Agency Presentation Template In-House Credit Rating Mapping Chart: Lower and Upper Values Rating Agency Presentation: Corporate Bank Origination Processes Loan Transfer Schedule of Tasks Loan Transfers, Accounting Movements Sign-Off Document: Securitization Project Securitization Testing: Finance Department Accounting Process on Closing EUR Junior Tranche Trade Ticket Senior Tranche Trade Ticket Internal Transfer Booking Process Questions from Trustee, Paying Agent, and Services Provider Summary and Conclusions

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