Boot Camp: Mortgage & Mortgage-Backed Securities - June 2015
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JUNE
04
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Overview
A 2-day intensive training program where students are instructed on mortgages and mortgage-backed securities. The program is designed to introduce participants to the broad variety of mortgage and MBS products, explain technical aspects of MBS performance, and demonstrate why and how different types of MBS structures are created.
The program includes both in-depth presentations and modeling case studies using MS Excel. Participants will explore a wide variety of concepts while gaining experience in modeling cash flows, market execution and risks.
Boot Camp Agenda
Day 1: MBS market logic & history, mortgage product description, MBS pool creation, MBS markets & trading
Day 2: Prepayments & MBS price performance, mortgage credit, structured agency & non-agency MBS
What sets this program apart?
• The program offers comprehensive instruction on the mortgage and MBS markets, including sections devoted to areas that are highly technical and difficult to teach.
• The program includes intensive Excel modeling sessions on:
- generating mortgage and MBS cash flows
- calculating average lives, durations and yields
- creating MBS pools and calculating “best execution”
- calculating dollar roll break-evens and carry
- converting prepayment metrics
- calculating effective durations and convexities
- creating simple agency structuring variations
- Be sure to bring your Excel-enabled portable computers! (Required for the modeling sessions)
• The program will be run by Bill Berliner of Kinecta Federal Credit Union. Bill is a well-known authority on mortgages and mortgagebacked securities with 28+ years of experience in research, trading, sales, and operations. He is the co-author, with Frank Fabozzi and Anand Bhattacharya, of an award-winning text book on the sector, and has taught classes in the Fixed-Income program for CFA-LA since 2003.
For more information, please click here for the Boot Camp Brochure.
PREREQUISITES
Understanding of capital markets Excel – Beginner level
FORMAT
Full course – 2 days
Course materials included
| Registration Fees $900 | $1000 (Non-Member) |
We accept the following:
If you prefer to pay by check please register online and select "purchase order" as your payment option and enter your last name as the purchase order number.
Mail check to:
CFA Society of Los Angeles, 520 S. Grand Ave, Suite 370, Los Angeles CA 90071.
*Credit card payments will only be accepted through the secure online registration, and not by phone or email.
Enrollee cancellations must be made in writing and received at least 5 business days before the first day of class. All cancellations will incur a $30.00 processing fee. If enrollment is canceled after the 5-day deadline, a 50% cancellation fee will be charged.
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As a participant in the CFA Institute Approved-Provider Program, the CFA Society of Los Angeles has determined that this program qualifies for 12 credit hours. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary. |
