Asset Securitization: Theory and Practice: Theory and Practice

Author: Chen Wenda
Publisher:
Publish Date: 2004-05-01
Features: The rise and prevalence of asset securitization in the international financial community have received high attention. However, the field of securitization is vast, and foreign discussions often involve gathering numerous experts, each responsible for a specific chapter, to compile a book. Yet, there is a lack of systematic introductions and analyses of asset securitization. The publication of this book is a pioneering effort to lead and adapt to this trend. It is written collaboratively by three elite scholars and industry professionals, leveraging their strengths to integrate theory and practice in asset securitization and present it from various perspectives, outlining a complete picture. For students currently studying at universities or research institutions, or professionals in the related financial industry, this book serves as a valuable tool for both theoretical understanding and practical application. The book is structured into five parts: Part I is the Foundation Section, introducing the development status, basic framework, and roles of various participating institutions in securitization; Part II is the Residential Mortgage Section, covering the most important securitization product—various securities issued after residential mortgage securitization; Part III is the Practice Section, including securitization pass-through, servicing processes, taxation, accounting, prospectuses, and pricing; Part IV is the Product Section, introducing three important non-residential mortgage loan asset-backed securities—auto loan securities, credit card receivable securities, and commercial real estate mortgage securities; Part V is the Review and Outlook Section, discussing the legal framework used in securitization in sequence, briefly mentioning other securitization products not covered in detail in the book, and exploring potential future developments.