What experience level is required for NYIF: Mortgage Backed Securities (MBS): Part I?

This course is aimed at the Intermediate level. Having some basic understanding of the topic will help you get the most out of the curriculum.

How long does it take to complete NYIF: Mortgage Backed Securities (MBS): Part I?

The total duration of the course is approximately 4 weeks. Since it is generally self-paced, completion time depends entirely on your learning schedule and availability.

Is this course more theory-focused or project-focused?

This course provides a strong mix of conceptual theory and practical application to ensure a comprehensive understanding of the subject matter.

Economics & Finance

NYIF: Mortgage Backed Securities (MBS): Part I

Name: NYIF: Mortgage Backed Securities (MBS): Part I
Availability: InStock

Learn about the characteristics of U.S. mortgage-backed securities and various agencies within the market in this comprehensive overview.

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Essentials (Small Teams)

₹12,510/yr

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₹33,026/yr

Billed annually • 14-day free trial

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Course Insight

Suitable for intermediate learners. Works well as a continuation after mastering Economics & Finance fundamentals. It bridges the gap toward advanced, production-level engineering.

Intermediate FriendlySelf-Paced Learning

SKILLS TO
MASTER

Economics & Finance Basics

Fundamental principles and concepts

Practical Application

Real-world project implementation

Best Practices

Industry standard workflows and guidelines

Problem Solving

Core Concepts

Implementation

Workflow Integration

Optimization

Careers:Relevant for professionals pursuing roles within Economics & Finance.

Quick Facts

4 weeks

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What You’ll Learn

Overview of the Mortgage Backed Securities (MBS) Market.
Understanding of Mortgage Loans and Mortgage Pass-through Securities.
Mortgage Cash Flows, Prepayment, and risk and return.
Bond math of MBS.
Analysis of pass-through securities and collateralized mortgage obligations.

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Description

This course begins with an overview of the mortgage backed securities market. We’ll learn about the characteristics of mortgage-backed securities and identify the factors that cause U.S. mortgage-backed securities to be considered a different category of fixed income securities compared to asset-backed securities.

We’ll learn about the U.S. mortgage agencies and be able to distinguish among them regarding their legal status, nature of the guarantees they offer and types of mortgages they securitize. We’ll look at the basic features of agency pass-through securities and collateralized mortgage obligations (CMOs) and how their structural differences impact cash flows received by investors. We’ll also get familiarized with mortgage-related terminology such as non-recourse debt, underwater mortgages and short sales as well as their implications for mortgage loans and their consequences for the risk and expected returns to investors in mortgage-backed securities and learn about the main aspects involved in the creation of an agency pass-through security.

We’ll learn about mortgage cash flows and prepayments and also learn how the interaction between prepayment risk and reinvestment risk adversely impacts holders of pass-through securities in both rising and falling interest rate environments. We’ll learn how to distinguish between rate of return and the different yields associated with mortgage-backed securities and get introduced to the commonly used prepayment benchmarks for expressing prepayment speeds. We’ll wrap up this course with an understanding of bond math, spreads used in assessing the risk and relative value, option-adjusted spread and collateralized mortgage obligations.

This course is part 1 of the New York Institute of Finance’s Mortgage Backed Securities (MBS) Professional Certificate program.

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