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| | Asset-Backed Securities, by Phillip L. Zweig: The Concise Encyclopedia of Economics: Library of Economics and Liberty |
 | | Assets such as credit cards, automobile loans, and home equity loans are packaged as the collateral for intermediate-term (i.e., maturity of one to five years) securities and sold in the public markets or as private placements. | | | Asset-backed securities enable depository institutions, finance companies, and other corporations to "liquefy" their balance sheets (i.e., raise cash by borrowing against assets) and develop new sources of capital. | | | To some extent, however, the expected decline in volume of credit card issues could be offset by growth in other, newer types of securities, such as those backed by home equity loans, "floor plan" loans used to finance automobile dealer inventories, and trade and lease receivables. |
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http://www.econlib.org/library/Enc/AssetBackedSecurities.html
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| | "Mortgage-Backed Security" "Mortgage-Backed Obligation" definition |
| | Alternatively, the security may be a ‘modified-pass-through’ so that the holder of the security is guaranteed monthly payments of interest, regardless of whether the payments of interest and principal are adequate to meet such payments. | | | Similar securities or bonds backed by other forms of collateral or assets, such as credit-card receivables, car loans or mobile home loans, are called ‘asset-backed securities or bonds’, as distinguished from the various forms of ‘mortgage-related securities’. | | | Pass-through, unlike non-pass-through, securities are not retained on the balance sheet of the originator or issuer of the securities. |
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http://www.deltaalpha.co.uk/terms/mortgagebacked.html
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| | Asset Backed Securities |
| | Asset Backed Securities (ABS) are pools of financial obligations - automobile loans, credit card receivables, home equity loans, etc., that have been securitized and packaged for sale to investors. | | | Asset backed securities were first offered in the mid 1980’s and today rank as one of the fastest growing segments of the fixed income market. | | | HELs asset backed securities are generally issued as pass-throughs or in sequential-pay classes. |
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http://www.allegiancecapital.com/sctn4g.html
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| | Asset-Backed Securities - Munich American Re |
| | Most ABS backed by these loans have been issued by U.S. auto makers' captive finance subsidiaries, but independent finance companies and banks are also floor plan lenders and are beginning to issue securities backed by these assets. | | | A related asset class that has been securitized is dealer floor plan loans, which are loans made to auto dealers to finance purchases of automobiles for their inventory. | | | A home equity loan is a secured loan made to a homeowner for which the home serves as collateral. |
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http://www.marclife.com/research/abs.htm
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| | Asset-Backed Securities |
| | All asset-backed securities are securities which are based on pools of underlying assets. | | | The "pooling" of assets occurs to make the securitization large enough to be economical and to diversify the qualities of the underlying assets. | | | Asset-backed securities are bonds that are based on underlying pools of assets. |
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http://www.finpipe.com/assback.htm
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| | Credit and Finance Risk Analysis - Asset-Backed Securities and Structured Finance |
| | Asset Backed Securities (ABS) are securities that are issued with a structure that repayment is intended to be obtained from an identified pool of assets. | | | These investors now essentially finance the assets and the company that securitized the assets off of its balance sheet receives cash in exchange with which it can invest in new assets. | | | Essentially sells the assets to investors who rely upon the repayment of their principal and interest from the cash flow generated by the assets and the residual (slavage) or market value of the assets. |
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http://www.credfinrisk.com/assetsecure.html
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| | Asset-backed Securities |
| | Investors in mortgage-backed securities assume little default risk because most mortgages are guaranteed by one of the government agencies. | | | The assets that can be securitized seem to be limited only by the imagination of the packagers, as evidenced by the fact that by 1996 new asset types include royalty streams from films, student loans, mutual fund fees, tax liens, monthly electric utility bills, and delinquent child support payments. | | | The GNMA pass-through securities have attracted considerable attention in recent years because the principal and interest payments on the underlying mortgages used to collateralize them are "passed through" to the bondholder monthly as the mortgages are repaid. |
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http://www.womeninvesting.net/asset_backed_securities.html
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| | SEC asset-backed securities proposed rules |
| | For assets that by their nature revolve (e.g., credit cards, home equity lines of credit), there is no limit on the amount of assets that may revolve or the length of the revolving period. | | | For other assets that have fixed terms, additional assets up to an amount equal to 50% of the offering proceeds during a period of one year may be acquired. | | | Generally, because asset-backed securities are paid from cashflow from pooled assets, disclosure concerning transaction participants has been limited. |
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http://www.globalsecuritisation.com/04americas/136_139.htm
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| | Proposed Rule: Asset-Backed Securities; Release Nos. 33-8419; 34-49644; File No. S7-21-04 |
| | Underlying securities which at the time of their purchase for the asset pool are part of a subscription or unsold allotment would be considered a distribution of the underlying securities. | | | The financial asset was held by the issuing entity and was a part of the asset pool for the asset-backed securities. | | | In that instance, the asset-backed securities are not backed solely by financial assets that “by their terms convert into cash,” because the transaction also involves a physical asset that must be sold in order to obtain cash. |
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http://www.sec.gov/rules/proposed/33-8419.htm
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| | asset backed securities |
| | Asset-backed securities are bonds that are based on underlying pools of assets. | | | Asset Backed Alert Countrywide Securities is establishing a new... | | | Securities Act registration requirements for asset-backed securities offerings, including expanding... |
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http://www.allaconsolle.it/finanza/asset/asset-backed-securities.php
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| | III - Asset-backed Securities |
| | The asset-backed securities market has grown as different types of loans are securitized and sold in the investment markets. | | | Home equity loans accounted for 20.4 percent of asset-backed securities outstanding in 2003, up from 18.6 percent in 2002 and 10.5 percent in 1995. | | | In CMOs, mortgage principal and interest payments are separated into different payment streams to create bonds that repay capital over differing periods of time. |
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http://www.iii.org/financial2/securities/assetbacked?table_sort_735012=4
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| | Asset Backed Securities |
| | Our information about asset backed securities was constructed to be educational and educational. | | | The asset backed securities facts at hand since the internet was introduced has improved in variety. | | | If you clearly want to dig up more about topics related to asset backed securities, then you need to be accommodating and set aside the time needed to locate the stellar sources to aggregate the material. |
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http://www.mortgage-free-solutions.com/asset-backed-securities
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| | RealCorporateLawyer.com Shelf Offerings |
| | The acronym “PIPEs” stands for “privately-placed, public equity.” A PIPEs transaction occurs when company issues securities to investors in a private transaction, and a condition to closing the private transaction is the shelf registration of the securities for resale. | | | In a PIPEs transaction, the only condition to closing the private transaction that can remain open at the time the securities are registered for resale is the effectiveness of the resale registration statement. | | | However, ifthe Trust Indenture Act of 1939 [http://www4.law.cornell.edu/uscode/15/ch2A.html] prevents an issuer from increasing the dollar amount of debt is not originally registered, debt securities cannot be included as one of the types of securities described in the unallocated registration statement.securities being offered via a post-effective amendment. |
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http://www.realcorporatelawyer.com/faqs/shelf.html
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| | RealCorporateLawyer.com Asset-Backed Securities |
| | They are said to be "backed" by assets because the performance of asset-backed securities is dependent upon the performance of the underlying assets. | | | Are audited financial statements of an issuer of securities that are a part of the pool of underlying assets that back a publicly registered ABS required to be included in the prospectus for the publicly registered ABS? | | | An asset-backed security is said to be "credit enhanced" if there is some feature present in the transaction that makes it more likely that the holder of the asset-backed security will receive the principal or interest owed to her. |
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http://www.realcorporatelawyer.com/faqs/absfaq.html
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| | SEC Proposes Thrift Exception from Advisers Act, Comprehensive Disclosure Requirements for Asset Backed Securities; ... |
| | The Commission also voted to propose new and amended rules and forms to address comprehensively the registration, disclosure and reporting requirements for asset-backed securities under the Securities Act of 1933 and the Securities Exchange Act of 1934. | | | Washington, D.C., April 28, 2004 — The Securities and Exchange Commission today voted to publish for comment a rule that would provide an exception from the Investment Advisers Act for thrifts and new and amended rules and forms for registration and reporting for asset backed securities. | | | The proposals considered today are intended to clarify the regulatory requirements for asset-backed securities in order to increase market efficiency and transparency and provide more certainty for the overall ABS market and its participants. |
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http://www.sec.gov/news/press/2004-58.htm
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| | Asset-Backed Securities |
| | Home equity loans and lines of credit are discussed later in this document, in the "Mortgage-Related Securities" section. | | | We have represented clients in CDO transactions securitizing a variety of assets, including high-yield bonds, bank loans, project loans, asset-backed securities, CBO/CLO debt and equity, perpetual floating rate notes, credit‑linked notes, common stock, stock index funds, synthetics securities, trust preferred stock, and real estate assets. | | | Other asset types include: mutual fund fee receivables, tax liens, federally guaranteed student loans, healthcare receivables, and servicer advance payments. |
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http://www.orrick.com/practices/structured_finance/asset.asp
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| | Asset-Backed Securities |
| | during the so-called Amortisation Period, are the payments then used for the complete repayment of the Asset-Backed Securities. | | | As a rule such structures are very complex, thus making special banking supervisory requirements a necessity, both for the protection of the selling bank and for that of the investors. | | | In the case of the securitisation of revolving receivables a fixed issue volume with fixed maturity is backed by a pool of collateral comprising receivables of varied amounts and variable - sometimes also initially indefinite - maturity periods. |
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http://www.bakred.de/texte/rundsch/rs13_98e.htm
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| | asset backed securities |
| | News and information about asset backed securities can be hard to find, especially if you need specific advice not only about If you are totally fanatical about this then I highly recommend you check out this web site whilst this opportunity lasts, but also with crown asset and asset inventory. | | | My conversation with John lasted for hours and at the end of it I asked John if I could add some of his words of wisdom to a breakthrough enables you to find a product or service that delivers the kinds of choices you need to make educated decisions about asset backed securities. | | | Find asset backed securities directories, guides, & consumer resources. |
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http://www.1-replica-rolex-watches.com/asset/asset-backed-securities.html
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| | Household: Investors - Asset Backed Securities |
| | Prospective investors should also consult their own financial and legal advisors about risks associated with investment in a particular issue of securities and the suitability of investing in the securities in light of their particular circumstances. | | | For further information concerning any of these securities, please consult with an investment advisor or broker. | | | This Website and the information contained herein has been prepared solely for informational purposes only and does not constitute an offer or the solicitation of an offer for the purchase or sale of any securities. |
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http://www.household.com/corp/hi_in_abs_data.jsp
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| | Introduction to Asset Backed Securities - Online |
| | It shows how an asset-backed security is constructed, rated by the credit agencies, traded, and valued. | | | This introductory course guides students through the evolution of asset securitization, which results in new products for investors and expanded sources of funding and risk transfer opportunities for issuers. | | | For more information regarding administrative policies such as complaints and refunds, please contact our offices at 212-641-6616. |
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http://www.ftknowledge.com/courses/fimk_1012.html
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| | Radian Asset Backed Structured Finance - Asset Backed Securities |
| | We concentrate solely on investment-grade transactions that are backed by high-quality assets, predictable cash flows or highly rated corporate obligations. | | | By buying Radian-insured asset-backed securities, investors eliminate credit and downgrade risks and enjoy significant yield pickup compared with natural AA or AAA securities. | | | Radian originates and underwrites well-structured credit transactions in the rapidly growing global structured products market. |
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http://www.radianmi.com/structured/asset.aspx
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| | [No title] |
| | The Commission will consider whether to adopt amendments to Form 8-K under the Securities Exchange Act of 1934 to add several new disclosure items, amend certain of the existing Form 8-K disclosure items and shorten the Form 8-K filing deadline. | | | The proposals would also require a registered management investment company to disclose additional information about its portfolio managers in its Statement of Additional Information, including other investment companies and accounts they manage, compensation structure, and securities ownership in investment companies and accounts they manage. | | | 34-49334) APPROVAL OF PROPOSED RULE CHANGE The Commission approved a proposed rule change (SR-NASD-2003-196) submitted by the National Association of Securities Dealers, through its subsidiary, the Nasdaq Stock Market, Inc., modifying fees for persons that are not NASD members using the Financial Information Exchange (FIX) protocol to connect to Nasdaq. |
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http://www.sec.gov/news/digest/dig030204.txt
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| | Asset-Backed Securities - Piper Jaffray |
| | Interest and principal payments in asset-backed securities come from a pool of consumer or business receivables and originate as loans issued by a wide range of businesses. | | | Asset-backed securities usually offer higher yields than other AAA-rated securities with comparable maturities. | | | Housing-related loans ( home equity or manufactured housing)— Issued by home lenders and mortgage companies. |
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http://www.piperjaffray.com/info3.aspx?id=174
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| | absreports.com - The Independent Securitisation Data Zone |
| | The guidelines are intended to provide a common ground of terms and requirements for publishing, confirming and comparing information regarding European asset- and mortgage-backed securities and improving the quality, uniformity and availability of pre- and post-issuance reporting for European securitisation transactions. | | | Subscription to the service can cost as little as EUR245 per month and is available by secure online payment semi-annually or annually in advance. | | | Our collaboration with Financial Times Interactive Data which was launched in spring of this year, now enables subscribers to absreports and FTID to view daily evaluations for over 1,000 individual European ABS securities in 12 asset classes including RMBS, Whole Business securitisation, Credit Cards, CLO (Synthetic and True sale), PFI/PPP and Lease deals. |
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http://www.absreports.com
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| | Asset-Backed Securities |
| | This area provides access to servicer reports and prospectuses for public Automotive Asset Backed Securitization (ABS) transactions for which DaimlerChrysler Services acts as Servicer. |
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http://investor.chryslerfinancial.com/securitization/securities.html
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| | BNP Paribas Appoints Raphael Gonzalez Head of Asset Backed Securities Trading in New York - Forbes.com |
| | BNP Paribas is pleased to announce the appointment of Raphael Gonzalez as a Managing Director and head of Asset Backed Securities (ABS) trading. | | | The group enjoys key positions in Corporate and Investment Banking, Private Banking and Asset Management, Insurance, Securities Services and Retail Banking. | | | He is based in New York and reports jointly to Eric Dumas, head of global flow credit business and head of credit trading in North America and to David Mandel, head of US ABS. |
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http://www.forbes.com/businesswire/feeds/businesswire/2005/05/27/businesswire20050527005227r1.html
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| | The Bond Market Association |
| | The Australian Financial Market Association has published an AFMA Annex I, covering Australian domestic repo transactions in Australian dollar-denominated securities documented under either the GMRA 1995 or 2000. | | | Congress Opens Social Security Hearings, Approves $2.6 Trillion Budget | | | Ways & Means Begins Social Security Hearings as Senate Votes to Increase Transportation Funding |
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http://www.bondmarkets.com
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| | ABSNet... The SOURCE for Securitization Information |
| | Commercial mortgage-backed securities investors, analysts and rating agency executives are taking aim at deteriorating underwriting standards, lower subordination levels and non-traditional collateral that continue to be a major issue with new deals... | | | Countrywide Securities is establishing a new unit that would issue, underwrite and manage collateralized debt obligations. | | | Register here to access securitization deal performance data, news, spread quotes, and other research. |
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http://www.absnet.net
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| | FINANCING WITH ASSET-BACKED SECURITIES |
| | The advantages and disadvantages of asset securitization as a financing technique | | | Sources of Value Added From Structuring Asset-Backed Securities to Reduce or Reallocate Risk | | | Project Financing as a Form of Asset-Based Finance |
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http://pages.stern.nyu.edu/~igiddy/ibbm.htm
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| | Global-Investor Bookshop : Mortgage and Asset-Backed Desk Reference by Capital Access International |
| | Since the last edition, there has been a 20% increase in mortgage-backed assets under management and an 8% increase in mortgage-backed assets under management. | | | The Mortgage and Asset-Backed Desk Reference provides essential data derived by Capital Access International based on original surveys, interviews with key contacts within each firm monitored by CAI, as well as from public documents, such as annual and quarterly reports, insurance company filings and SEC filings. | | | This new edition also includes the popular Capital Access League Tables, featuring the top holders, broker/dealers, and issuers in the asset-backed and mortgage-backed arena. |
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http://books.global-investor.com/books/12635.htm?ginPtrCode=00000&identifier...
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| | Mortgage-Backed Securities |
| | asset-backed security A securitized interest in non-mortgage assets. | | | It includes a detailed and hilarious account of the early MBS market. | | | A mortgage-backed security (MBS) is a securitized interest in a pool of (typically residential) mortgages. |
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http://www.riskglossary.com/articles/mortgage_backed_security.htm
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| | Securitization.Net |
| | China: 2005 Administrative Measures on Pilot Projects of Credit Assets Securitisation | | | For the purposes of regulating pilot projects of credit assets securitisation, protecting the legal rights and interests of investors and relevant parties...more | | | Ameriquest Mortgage and First Franklin Financial are each taking steps toward the launch of broker-dealer units. |
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http://www.securitization.net
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