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Most Helpful Customer Reviews
3.0 out of 5 stars
Overall content,
By
This review is from: Securitization : The Financial Instrument of the Future (Hardcover)
It's not over exaggerated to say that this's the book for the whole world of securitisation, in which the beginners of this stuff would be very much interested in, and of course you may wish to buy it for real. However, the author does not go into details so deep. You would find many better choices about securitisation and structured finance from other books of WILEY finance. Hopefully, financial lawyers would have considered this book in library before paying your money for it. Many thanks to the author and to Amazon as well.
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Most Helpful Customer Reviews on Amazon.com (beta) Amazon.com:
4.5 out of 5 stars (2 customer reviews) 2 of 2 people found the following review helpful:
4.0 out of 5 stars
Pretty good book considering the complicated topic,
By C. Ang "cliff_ang" - Published on Amazon.com
This review is from: Securitization : The Financial Instrument of the Future (Hardcover)
Securitizations is generally a very complicated topic. This book tries to explain a majority of the major issues, and the size of the book is evidence of this monumental task. This book not only discusses US applications of securitizations but also attempts to incorporate a global perspective by including IFRS in addition to US GAAP. There is also a discussion of different securitization trends in different countries. However, for my purposes I did not find those discussions particularly useful.
One thing I liked about this book is that it provided examples of many things. It showed valuation examples, flow charts, and a lot of additional materials that would help the reader understand the complicated nature of securitizations. There is also a whole chapter on Securitization Accounting, which is probably one of the most important aspects of securitization that needs to be understood. In my opinion, this book does a good job with the discussion on accounting. There are also individual chapters on common assets underlying securitizations, such as residential mortgage backed securities (RMBS), commercial MBS, equipment leasing, etc. These focus on the individual issues that affect the different assets. For example, for RMBS, there is a discussion on prepayments and defaults. The author goes into a good amount of detail explaining the impact of each on the value of the different tranches and retained interests. The book also does a decent job discussing residual interest, but it is not located in one place. The discussion jumps around to fit the other major topics. In other words, you would find some discussion of residual interest in the valuation section and the accounting section. So if you are interested in one topic, you would have to practically read the entire book to get all the discussion on that one topic. Although this is a very thick book, it is not hard to read. This is a good source for a lot of things about securitizations - I found other sources only tackle bits and pieces of securitizations and to gain a fuller understanding of certain aspects of securitizations one would need to piece together things you find from different authors. This book takes care of that problem, but you still have to be careful when you read this book because the complexity of the topic can easily lose/confuse the reader. 1 of 1 people found the following review helpful:
5.0 out of 5 stars
All you ever needed to know about Securitizations!,
By Manasi - Published on Amazon.com
This review is from: Securitization : The Financial Instrument of the Future (Hardcover)
An all-inclusive book that covers the many aspects of Securitisations, especially Accounting in an exhaustive manner. It not only coveres the US market but also the global arena very well. Clearly written and easy to read. It is a must read for all securitiations professionals.
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