edX
edXMortgage Backed Securities (MBS)
10 studentsINTERMEDIATEEnglish
Korshub's take
Mortgage-Backed Securities Require Specialized Tools
Securities backed by residential mortgages pose analytic challenges that vanilla bonds don't: prepayment risk, structural complexity, and valuation nuance. This course covers pass-through mechanics, the structural features that fragment cash flows into tranches, and how each tranche behaves differently as prepayment speeds change.
Learn agency versus non-agency CMOs and their variants—sequential pay, Planned Amortization Class, accrual tranches. Understand TBA (To Be Announced) trading and dollar rolls, the instruments that trade MBS cash flows forward. Essential for fixed-income traders and analysts working the mortgage market or building fixed-income portfolios.
About this course
Structural features and their impact on valuation and analysis of MBS ,Describe the structural features and cash flow characteristics of pass-through securities ,Recognize the impact of prepayment rates in the analysis and valuation of MBS ,Explain the basic features of agency and non-agency CMOs as well as important types of tranches (sequential pay, Planned AmortizationClass, accrual/z-bond, etc) ,Describe the basic elements of TBA (To Be Announced) trades and dollar rolls
Price
$1,590
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