Transcription of The Securitization Process
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The Securitization Process
Asset-Backed Securities The Securitization Process Prof. Ian Giddy Stern School of Business New York University Asset-Backed Securities q The basic idea q What's needed? q The technique q Applications q Typical sequence Copyright 2001 Ian H. Giddy The Securitization Process3. Securitization of Assets q Securitization is the transformation of an illiquid asset into a security. q For example, a group of consumer loans can be transformed into a publically-issued debt security. q A security is tradable, and therefore more liquid than the underlying loan or receivables. Securitization of assets can lower risk, add liquidity, and improve economic efficiency. q Sometimes,assets are worth more off the balance sheet than on it. Copyright 2001 Ian H. Giddy The Securitization Process4.
The Securitization Process Prof. Ian Giddy Stern School of Business New York University Asset -Backed Securities. ... qBusiness strategy and planning processes qControls and procedures qAsset origination and credit assessment procedures qQuality of its loan documentation
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