Structuring and Modelling for Auto ABS with Residual Value Risk
(London 8-9 November, 2018)

This two-day core course in Auto-ABS  with Residual Value risk securitization offers delegates the opportunity to gain confidence in understanding and programming their own Auto-ABS cash flow models. The course begins by offering a primer on the building blocks of Auto-ABS as they relate to structures. The course then develops the delegates understanding into the rating agencies’ programming requirements and outputs (“first dollar loss” vs “expected loss”). Lastly, by examining the offering circular, pre-sale and investor reports from DRIVER UK five, the delegates will reverse engineer a rating agency compliant cash flow Excel programme for the purpose of calculating the capital structure

EURO 1,750 plus VAT (where applicable)

Structuring and Modelling for UK & EMEA RMBS (London 5-7 December, 2018)

This three-day core course in RMBS securitization offers delegates the opportunity to gain confidence in understanding, stressing and programming their own RMBS cash flow models.

The course begins by offering a primer on the building blocks of RMBS as they relate to structures. The course then develops the delegates understanding into the rating agencies’ programming requirements and outputs (“first dollar loss” vs “expected loss”).

Lastly, by examining the offering circular, pre-sale and investor reports from a 2018 UK RMBS, the delegates will reverse engineer a rating agency compliant cash flow Excel programme for the purpose of calculating the capital structure.

GBP 2,250 plus VAT (where applicable)

Understanding and Structuring CLOs for Issuers and Investors (London 21-23 January, 2019)

This three-day core course in CLOs securitization offers delegates the opportunity to gain confidence to understand and program their own CLO cash flow models.

The course begins by offering a primer on the building blocks of CLO as they relate to structures. The course then develops the delegates understanding into the rating agencies’ programming requirements and outputs (“first dollar loss” vs “expected loss”). Lastly, by examining the offering circular, pre-sale and investor reports from a recent CLO, the delegates will reverse engineer a rating agency compliant cash flow Excel programme for the purpose of calculating the capital structure

For Moody’s the tranche rating will be based on a combination of the WAL of the tranche and the calculated expected loss. The delegates will examine how this are detailed against a range of 30 default and interest rate scenarios and what are the permissible deviations for different tranche ratings. In the case of Standard & Poor’s, each of the many scenarios will give rise to a Break Even Default (BDR) rate. These are compared to the Scenario Default Rate (SDR) for each tranche and, depending on the tranche rating, the permissible percentile where the BDR is lower than its SDR equivalent

This programme will teach you how to become the complete securitization professional with the soup-to nuts agenda covering structuring and modelling a Leverage Loan CLO – Jubilee CLO XVI

  • Using CDO Evaluator to derive SDR for different tranche ratings

  • Using the Binomial Expansion Technique for diverse portfolios of heterogeneous assets.

  • How to “mark-to-model” illiquid tranches in the secondary market.

  • Examining Standard & Poor’s & Moody’s EMEA Cashflow Modelling requirements

  • Using Excel VBA to construct User Defined Functions for Interest Coverage Tests

  • Reverse engineering a Leveraged Loan CLO cash flow model from the offering circular and rating agencies’ pre-sale reports of a recent CLO issue.

GBP 2,500 plus VAT (where applicable)

Understanding and Structuring Reverse Mortgage  (to be announced)

Coming soon - Brand new course covering the securitisation of this new and forthcoming asset class. Looking at Moody's, Fitch, DBRS and Standard & Poor's rating approach.

WORLD LEADERS IN SECURITISATION TRAINING

For over 17 years Creative Capital Partners have been the recognized 'go-to' organisation for securitisation training programs for both in house and public courses. We have trained securitisation and credit professionals from practically every major bank and financial institution in European securitisation.

Our courses take place all over the world including Europe, Asia, the US and Africa. Moreover, we have received the coveted 'excellent' scores from over 90% of our delegates.

ASSET CLASSES COVERED

We are continually updating our course material to ensure coverage of the most relevant asset classes including RMBS, CLOs, Auto ABS, ABS backed by SMEs as well as General Credit Enhancement. They have been developed specifically for the 'international' securitisation market based on the current criteria of the 'big three' rating agencies.

CASE STUDIES

Particular care is taken to ensure only the most 'up-to-date case studies are used. Thus ensuring that, where possible, the latest technology is available to all the delegates.

If you would like to attend any of the above courses on an alternative date, please leave your contact details below with a description of which courses are of interest to you and your preferred timing.

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