Hey guys, this might be a silly question, but hoping that someone will humor me. In the event that a company is liquidated and it has, say, an outstanding $10 million 1st lien term loan ($5 million first-out, $5 million last-out), what does the repayment look like? I know that both the first-out and last-out have the same 1st lien on the assets, but would the first-out get repaid first?

Hi. I've got a phone interview coming up with a BB firm for a Securitization Finance Summer Analyst position. Could anyone elaborate on this position or know of anything I should study before the interview.

Thanks.

Hello all, wondering what your thoughts are on the commercial ABS market, in terms of:

- Job stability
- Hours
- Market growth potential
- Compensation (Senior Associate or AVP at BB)

I know it took a real hit but hear that it's coming back...

Thanks.

I have an interview at Fitch for a RMBS position coming up. Is anyone familiar with the interview process there?

Coming up on 2 years since graduation. Been working in an unrelated field. Can't really disclose doing what but it involves sales/marketing/account management skills. Good fit for me but, frankly, doesn't pay to well at all.

So I am a bit confused if this would be a front office role. Also would it be a good background for a FI S&T BB internship next year?

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Structured (2)

Candidate will become familiar with evaluations, models and managing client inquiries for CMBS, ARM, and Agency Pass Thru.

Responsibilities:

* Load benchmark curves into internal models to generate pricing files and tolerance reports.
* Create macros to help facilitate day-to-day operations.
* Respond to client inquiries.
* Help the desks enter market data into the market data repository and models.

Experience:

* Some knowledge of the fixed income markets.
* Experience creating Macros.
* Strong desire to learn.
* Excellent written and verbal skills.

Job search narrowed down to my three best offers (best offer in each industry I am interested in):

-Top 5 prop trading firm offer (Chicago)
-BB Asset Backed Securities group offer (New York)
-Financial Consulting offer (Chicago)

Any general insight/ advice would be appreciated.

More specifically, I am looking for information on exit opportunities from ABS (and bonus numbers) and prop trading. The consulting offer seems to be the most broad and leaves the door open for movement within consulting and finance as well as MBA. However, the other two are obviously more monetarily rewarding initially.

Thanks to all for any thoughts.

I got a call on friday from the head of HR at a small firm, she goes on to tell me that they would like to hire 1 intern for fall/winter in their structured finance group. They basically creat ABS' from big assets such as mining equipment, oil rigs, freight ships, etc. (I didnt know securitization went this far).

The issue:
My schedule doesn't match the hours she would like me to work, I'm taking 17 credits this semester and could drop a statistics class, though I wouldn't like to do that I think the experience would look nice on my resume come the spring.

I'm a freshman and did an internship at BAML GWM over the summer, that's the only finance related experience I have and would like to start filling up that resume to land something IBD next year.

I am doing some research on ABS (Pricing, structuring, etc). I am not too interested in mortgages, primarily in credit cards, autos, leases, etc. I am looking for academic or industry level materials. Any book suggestions, powerpoints, things you might have found. If anyone is in the industry or works with these please PM me. Thanks guys!

Would the "Asset Backed Securities" group of an IBD be a worthwhile internship experience? Assuming the goal of IBD -> PE -> Greatness, of course. Seriously though, not very familiar with such a group and would appreciate some insight.

Description: [Group] is a leader in ABS and MBS underwriting and origination. Provides full service securitization, origination, valuation, structuring and distribution services. Provides secured asset-based lending facilities, creates customized financing solutions across diverse asset classes including: auto; credit card; student loan and residential mortgages. Coordinates and works closely with Syndicate and secondary trading. Client base consists of top national and international consumer finance and financial institutions

Role: Support analysts and associates on current, in-process securitization and lending transactions
Coordinate deal closings with such groups as outside legal counsel, rating agencies and corporate trust departments in addition to multiple intra-company departments (Legal, Operations, Finance, etc.)
Assist with marketing presentation preparation
Provide updates to company qualification database

**Updated with more questions**

I'm trying to compare several choices as a college senior from target school:

1. Doing asset backed securities at a top 5 US bank (think Bank of America, Wells Fargo, PNC, Citi), with pay comparable to BB.
2. PE at a 500MM shop doing natural resources deals. The work is mainly pro formas, maintenance of the property (i.e. making sure all the legal docs are good, getting contractors and suppliers to do their work)...there's some level of modeling with comps when evaluating a new deal.
3. Doing equity research at a respectable prop shop in Chicago.