Mortgage Backed Securities (MBS): Basic to Advanced

Financial Markets | MBS | Asset Securitization | Mortgage Loans | Cash Flows | CMOs | PAC Bond Tranches

4.47 (995 reviews)
Udemy
platform
English
language
Finance
category
4,495
students
3.5 hours
content
Oct 2023
last update
$69.99
regular price

What you will learn

Describe the characteristics and types of mortgage loans and how they are securitized into mortgage-backed securities (MBS)

Understand the role of MBS in the broader fixed income market and how they are used in portfolio construction and asset allocation strategies

Evaluate the suitability of different MBS for different investor objectives and risk tolerances

Determine the appropriate pricing and valuation techniques for different types of MBS

Analyze the impact of interest rates and prepayment rates on the value of MBS

Analyze the performance and risk characteristics of pass-through securities and how they differ from other types of MBS

To describe what are pass-through securities, their risks, and how prices & yields are calculated for these instruments

Understand the mechanics of collateralized mortgage obligations (CMOs), their purpose and how they are structured to manage risk and return

Description

This course will introduce you to a variety of the more  commonly-encountered types of mortgage-backed securities, pass-through  securities, and CMO's, as well as a lot of the concepts used to assess  the attractiveness of mortgage-backed securities and a lot of the  details to help understand mortgage-backed securities and how they work. 

This course contains 21 lectures among 4 sections: 

  • Introduction to Mortgages and Mortgage Backed Securities

  • Pass Through Securities

  • Analysis of Pass Through Securities

  • Collateralized Mortgage Obligations (CMOs)

More about this course and Starweaver

This course is led by a seasoned capital markets industry practitioner and executive with many years of hands-on, in-the-trenches financial markets sales, trading and analysis work. It has been designed, produced and delivered by Starweaver. Starweaver is one of the most highly regarded, well-established training providers in the World, providing training courses to many of the leading financial institutions and technology companies, including:

Ahli United Bank; Mashreqbank; American Express; ANZ Bank; ATT; Banco Votorantim; Bank of America; Bank of America Global Markets; Bank of America Private Bank; Barclay Bank; BMO Financial Group; BMO Financial Services; BNP Paribas; Boeing; Cigna; Citibank; Cognizant; Commerzbank; Credit Lyonnais/Calyon; Electrosonic; Farm Credit Administration; Fifth Third Bank; GENPACT; GEP Software; GLG Group; Hartford; HCL; HCL; Helaba; HSBC; HSBC Corporate Bank; HSBC India; HSBC Private Bank; Legal & General; National Australia Bank; Nomura Securities; PNC Financial Services Group; Quintiles; RAK Bank; Regions Bank; Royal Bank of Canada; Royal Bank of Scotland; Santander Corporate Bank; Tata Consultancy Services; Union Bank; ValueMomentum; Wells Fargo; Wells Fargo India Solutions; Westpac Corporate Bank; Wipro; and, many others.

Starweaver has and continues to deliver 1000s of live in person and online education for organizational training programs for new hires and induction, as well as mid-career and senior level immersion and leadership courses.

If you are looking for live streaming education or want to understand what courses might be best for you in technology or business, just google:

starweaver journey builder starweaver[dot]com

Happy learning.


Content

Introduction to Mortgages and Mortgage Backed Securities

Introduction to Mortgage Backed Securities
Asset Securitization and Introduction to Mortgage Loans
Mortgage Loans

Pass Through Securities

Introduction to Pass Through Securities
US Mortgage Agencies
Agency Underwriting Guidelines
Structure of Pass Through Securities
Mortgage Cash Flows Part 1
Mortgage Cash Flows Part 2
Mortgage Pool Cash Flows
Mortgage Prepayments

Analysis of Pass Through Securities

Risks of Pass Through Securities
Pass Through Securitries Prices and Yields
Pass Through Securities Cash Flows and Valuation
MBS Prepayments and Negative Convexity
Prepayment Benchmarks

Collateralized Mortgage Obligations

Conditional Prepayment Rate and Introduction to CMOs
CMOs and Sequential Pay Tranches
Z Bond Tranches
PAC Bond Tranches
Other Types of Tranches

Screenshots

Mortgage Backed Securities (MBS): Basic to Advanced - Screenshot_01Mortgage Backed Securities (MBS): Basic to Advanced - Screenshot_02Mortgage Backed Securities (MBS): Basic to Advanced - Screenshot_03Mortgage Backed Securities (MBS): Basic to Advanced - Screenshot_04

Reviews

Sudarshan
August 31, 2023
Very good course. I would request for a document summarising the key poits taught as a ready reference.
Vishal
July 30, 2023
Although this is very informative and knowledgeable, it would have been helpful if you had showed us on excel, how you would model an MBS security on excel. How the price changes with a call option embedded, int rate change or pre-payment change.
Anonymized
April 10, 2023
I learned far more from this course in 4+ hours, than I did from my manager in 2.5 years. And mortgage-backed securities are the core of our business, as one of the GSEs.
Kunal
October 12, 2022
This course didn't bring up the value what I expected. The instructor is focusing more on the content than to teaching. Instructor should know that students came from different backgrounds so keeping course simple in terms of language will be more beneficial to everyone. Using specific terminologies repeatedly was making the course so boring. There was times when I was just staring the screen and nothing is making it interesting. Instructor should use more diagrams, flow charts to understand the concepts rather than just put up a slide with calculations. You must check the other courses of any different instructor so you will understand what I am telling here.
Stanton
September 12, 2022
It's a little higher level than I need, but probably a good compromise for your total audience overall. I'm having to pause and look up basic terms like "security" and "asset securitization".
Jenny
August 30, 2022
I loved the gradient approach taken. Everything was defined very well making the course easy to follow step by step.
Kaitlyn
June 6, 2022
understanding the housing industry itself helps us further understand our jobs and makes be more effective as well
Hchung
May 19, 2022
The instructor is very articulate and presents the information well. Some of it is very repetitive and I think a brighter environment would help the eyes of the viewer.
Leslie
April 29, 2022
Good information repeated the right number of times: first in the abstract, and then with example numbers.
Nishant
October 3, 2021
A lot of great knowledge. I just wish there was more information about traders and market makers (entities that are not looking to buy and hold). Also I wish there was a little bit more excel utilization and practice problems
Saketh
March 12, 2021
Subject is definitely useful. Course is given in affordable pricing. If course went more into the subject also appreciated.
Milciades
June 15, 2020
The agenda of this course is very explanatory, and the instructor is very knowledgeable of the topic and includes many examples. He makes the class enjoyable to presents a very complete course. I recommend the course and the instructor.
Raj
April 26, 2020
Its an awesome experience. I enjoy your way of explaining the concepts. I am looking forward to learning additional stuff you are planning to bring. Thank you so much.
Armaan
March 19, 2017
Great material and coverage. Can be a bit slow at times and wish it was a bit more engaging - suggest inclusion of downloadable excel exercises for more hands on practice and ability to play around with the numbers. Overall, very useful and digestible course, even if it can get dry at points.
Venkat
February 26, 2016
Lucid language has been used to explain basics but with a bit monotonous tone. In later slides course becomes very intriguing at the same time easy to understand as instructor uses good examples. Must watch for people who are into MBS business.

Charts

Price

Mortgage Backed Securities (MBS): Basic to Advanced - Price chart

Rating

Mortgage Backed Securities (MBS): Basic to Advanced - Ratings chart

Enrollment distribution

Mortgage Backed Securities (MBS): Basic to Advanced - Distribution chart

Related Topics

180372
udemy ID
3/11/2014
course created date
11/22/2019
course indexed date
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course submited by