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BAML Securitized Products SA 2025
Haven't seen too many threads on this role so decided to start one for those interested. Just received a first-round video interview invitation for BAML. Wondering if other people took the On-demand video interview already and their experience with it. What can I expect?
Structured Credit/Securitization — Which Desk? (RMBS, CMBS, ABS, Esoterics)
Hi! I'm an incoming Markets/S&T SA at a BB and beginning to think about which groups I'd like to be exposed to during my internship. I know I definitely want to do securitization; it's interesting, I'm somehow pretty passionate about it, and I think I have the skills for it. I'll be working in the...
Non-QM Pricing model
Currently sit on a mortgage originator trading desk with primarily a GSE product background. We have recently pivoted to being a heavier NonQM shop who shows the loans out via bulk whole loans. In a effort to better gauge the market I've been asked to build a estimated securitization take out price....
CMBS Conduit Loan Profitability
On a CMBS conduit loan, how do banks make their profits? I believe it because the bank receives more bond proceeds than the underlying collateral they are contributing - is the the correct mechanism of profitability? Why would bond investors pay more than the value of the underlying loans?...
Help remembering book title (solved)
I lost a book on modeling securitizations and I cannot recall the title or author. I think was written by a guy at Citi's SSG group. It looked pretty intense, about 500-700 pages I think. I tried some Google searches but they've been fruitless. Anyone have an idea of what book I'm talking about?
Exit opps for Structured Finance/Securitization?
Wondering what exit opps are possible and places to go from a structuring role in a Securitised Products Team in a IB. Does anyone also have any experience or is it viable to lateral from the Securitised Products Team to the LevFin team or Restructuring? Thanks
Securitisation shop
Hey all, This forum might not be the most apt for this topic, but feels like it's the closest. Got an interview with a securitisation firm (i.e. not a bank, a firm that specialises in acquiring loans and securitising them for institutional investors). Anyone here had experience with such interviews...
Best banks to work for in securitisation in the UK/Europe?
Which securitised product groups would be best to work for in UK/europe? There are some strong banks in the sector like Lloyds and Santander etc, but globally these aren't bigger names than HSBC or Goldman etc. so should it play a part?
Ranking Securitization Consulting Firms
Can someone help me find out how the consulting (accounting) firms rank in terms of securitization transactions? I have interviews with KPMG and Grant Thornton coming up. Is Grant Thornton even competitive since its not Big 4?
Internship Offers Help
Hi all, I need some help choosing between 2 banks with very different internship roles. I was fortunate enough to land offers at two similar tier bbs: one at Corporate Banking, one at Securitized Products. For corporate banking, the division is under the umbrella of investment banking and it seems...
How to calculate property value using pro rata
What does pro rata mean? i.e., can property value be calculated pro rata by loan balance if you also have interest rate?
Bank Credit Portfolio Management discussion - What they actually do, is it worth it, exit opps?
Interviewing for a Credit Portfolio Manager at a US bank and have a few questions. What the role is about: CPM work across origination, finance, risk and treasury teams. The organisational structure varies depending on each bank. They do not analyse individual deals but rather the portfolio of...
Securitisation Mezzanine Lender
can anyone please explain the key risks and structural mitigants in being a mezz lender? how do you get comfortable being in a mezz position in a securitisation? thank you
Securitization Training
I’m currently working as a securitization associate for a large regional bank in the U.S. Trying to get a more in depth knowledge of securitization but it seems a lot of the training courses out there are pretty basic and rudimentary. Does anyone have a more in-depth training course on...
Securitized Products Group (SPG) Questions - MBS and CLO
Hi all, I’m very interested in the Securitized Products Group (SPG). From what I understand, this includes ABS and its derivatives (MBS, CLOs, etc.) and falls more under the S&T side. I wanted to ask a few questions: 1) What is the impact of forbearance on the MBS market? From what I understand,...
Modelling Asset Backed Securities
Hi all, do you know any good source where I can find more about modelling Asset Backed Securities (and more in general securitized products)? In particular, I am interested in the Waterfall mechanism, even if every deal has its own story. I know that it is mainly done by professionals on...
Does Fannie or Freddie Commit Capital in Mortgage Securitization?
When mortgage loans are securitized into MBS , it looks like the mortgages go directly from loan originators through security dealers to the capital markets. So it seems that the funding comes directly from the capital market, and Freddie or Fannie doesn't put any money down in the process. In other...
What does "print red" or "print black" mean
I have come across this quite often but don't wanna ask in the office. There are questions that are stupid although we all say there isn't. What does "print red" or "print black" mean when issuing a securitization say CRE CLO or CMBS? Also, I hear "red line" a lot as well when in discussion of term...
Moving to Securitization
Hello, I'm looking at a job offer for a securitizations (structuring) role. I'm coming from a corporate banking job right now. How do those compare in terms of quantitative skills necessary, and what would an average day look like in securitizations?
Securitization of credit cards
Hi! I was looking for some time for decent model for securing credit cards recievables but can't find.I would very grateful if someone could provide resourse or share real model with me.Thank you.
Which investment banks out there may be willing to structure/deal non-traditional securities?
Say I'm a risk-bearing entity that wants to offload some of my risk via a type of non-traditional security. My understanding is that a bank might underwrite and buy these securities from me, and sell them to investors. Are there any banks known to be willing to take a look at facilitating something...
What do you mean by origination in sales & trading?
Banks have Sales desks, trading desks , but also lump debt origination into this S&T bridge. How does Securitization and DCM differ from S&T? What does origination even mean? If you are an analyst/associate working in Securitization/ DCM , are you working on deals like an investment banker? I'd...
Asset BACKED Finance - Career Path? Day-to-day? Comp? Hours, etc.
Hi All, I am currently trying to make a decision between a few offers and another opportunity came up that I was fortunate enough to interview for. The opportunity is with a BB Asset BACKED Finance group NOT asset based lending....which is very different. BB group - think Wells Fargo, PNC Capital...
Whole loan securitization
Any info on Ladder capital?
Does anyone have any info on Ladder Capital? culture/salary/reputation etc
Societe Generale NY Securitization Internship
I'm wondering if this internship would be helpful for me; I have an offer for Summer '13. I was trying for SG M&A but only got a Securitization offer. I'm finishing out my Sophomore year now, and will be trying for further internships next year (most likely IBD , but possibly S&T). Since...
Accounts Receivable Securitization
Any thoughts on joining a structured finance group for an IB that specializes in this field?
Can someone post or send me this article? "Bond Recipes Use Fresh Ingredients"
from today's WSJ. I do not have an online subscription. This might annoy people or get taken down by a mod but what the hell. Here's the 'limited view' that you can see before it cuts off for non-subscribers: Bond Recipes Use Fresh Ingredients BY LIZ RAPPAPORT AND SERENA NG With risk-taking in vogue...
Securitizing Sanity
They say that a picture is worth a thousand words. Well if that's the case Just please feast your eyes on a Rembrandt . This thing must be worth a million GM shares. Now, I appreciate good jokes and love to watch old stand up concert movies of guys like Richard Pryor, Eddie Murphy and George Carlin....
A Kinder Gentler Mortgage Backed Security
Covered bonds are a financing tool that has been utilized in Europe since the 18th century. Recently, bankers stateside have begun to use them as an alternate method of financing residential and commercial mortgages . The instrument in question is not much more than an MBS with the allegedly game...
Putbacks: PIMCO, Blackrock, NY Fed Want a Mulligan
Remember how cool it was to get a do-over when you screwed up as a kid? Or how much you loved the teachers who just threw out your lowest grade of the year and didn't count it? Or how cool it is when your buddies give you a mulligan after you shank one into the trees? Well, PIMCO, Blackrock, and the...
Cover Letter Review (Securitisation Finance)
Let me know what you think of this cover letter for an entry-level position in securitisation finance.
Securitization - Good online resources
Hi everyone I'm looking for educational resources to brush up on securitisation (within fixed income). If anyone knows good online resources or textbooks etc. Please list them here. Thanks
Insurance-Linked Securities - Types of bonds
Does anyone here know something about Insurance-Linked Securities? I am talking about cat bond (catastrophe bond), longevity bond, mortality bond, etc., the kind of securitiess that transfer the risk from the insurance companies to the investors. Apparently these animals have been around for...
How to securitize health insurance policies
A pool of health insurance policies can be packaged and securitized. It should raise enough money, plus some very comfortable margin, to pay for the covered medical expenses of the insured for a specified period. At the end of the period, the remaining money will be returned to the investors....
Asset Securitization, articles, comments, etc
Monkeys, I have searched teh interwebs for information in ABS creation, trading , and general information. Found lots of good nugets of information but now that I have found my way back to the mother tree due to christmas break I was wondering if anyone out there had some good websites or insight...
Investment Banking Securitization Products Interview?
Hi guys, I have an interview next week at a BB for a first year analyst position in a securitized product origination group. I don't know much at all about the subject, what sorts of products to these groups even securitize? Is it receivables and debt, or physical assets? Does anybody know any good...
Securitization of small business loans
Securitize the small business loans, pooled them across regions and sectors, and package them into tradable securities, sell them to hedge funds and other investors, take the lending risk out of the commercial banks. The Fed can buy them too, thus effectively lending directly to the small...
CDO Products - CLO/CMBS/ABS
I currently intern on a fixed-income trading desk specializing in the aforementioned products. Just want to know if anyone else out there is doing this stuff too. It would be cool to hear what your firms are saying (obviously without revealing too much). CLO's are starting to make a rally. Too soon...
AR Securitization Accounting
Can someone let me know the accounting for an AR securitization facility? I know it's generally considered off- balance sheet debt , but I also thought that it acted similar to a revolver and was only an available traunch of debt that a company can draw upon when needed. So, assuming that I...
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