Overview of Securitization and Securitized Products

Laurent Gauthier

Chapter 2 in Securitization Economics, 2020, pp 7-34 from Springer

Abstract: Abstract This chapter is a rapid tour of the basics of securitization. We define a few terms and follow the cash flows in a typical securitization. Then we see how the various types of securitized products are generally categorized, and that the securitized bonds markets are very sizable. We provide an overview of the types of securitized bonds that are most common, without yet going into the details of their structures. We also present the trading mechanics applicable to these bonds, as they are quite particular and in some cases fairly complex. Finally, we briefly address some valuation techniques for securitized bonds and stress the importance of negative convexity.

Date: 2020
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DOI: 10.1007/978-3-030-50326-0_2

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