I am thinking about applying to a group that focuses on investments in ABS, RMBS, and "other real estate related ass classes". In my current professional position, this seems like a great opportunity to get exposure to research, asset managment, and statistical/financial modeling.
Is there any stigmas around ABS? This seems like very niche asset class, can this narrow my future career opportunities in AM?
Any general feedback on this asset class or strategy?
I have the similar plan. however, i am not on the right track to pursue currently. I think ABS has a brighter future than RMBS, at least ABS issuance picked up at a nice pace.
Non agency rmbs future is in CRT deals and there are some shelves that issue prime jumbo and subprime (Lone Star, COLT shelf). ABS you gotta be a bit more specific because there are a lot of different types. Ones that are growing more are marketplace lending (lending club, prosper, onemain) and subprime auto (which really are good).
highly agree with your viewpoint especially i think CRT deals will be the trend of future non agency market. Also relevant policy will have huge impact on this market. Such as easing the "qualified-mortgage" standards"; reducing the risk weight capital retention and so on.
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