Mortgage Backed Securities (MBS)

Overview

Taught by instructors with decades of experience on Wall Street, the Mortgage Backed Securities (MBS) Professional Certificate program is a fast paced, comprehensive yet detailed introduction to the U.S. mortgage-backed securities market.The Mortgage Backed Securities (MBS) Professional Certificate in collaboration with New York Institute of Finance - NYIFx covers the basics of terminology and features of individual mortgage contracts all the way through to the structure and investment characteristics of exotic instruments such as PAC bond tranches and reverse mortgage securitization.Along the way, the program will address aspects of the MBS market ranging from the creation of the basic building blocks (mortgage origination and types of mortgages), the process of turning them into investment instruments (asset securitization) and how in certain instances the cash distributions are structured to create a variety of securities from a single collateral pool (types of tranches of Collateralized Mortgage Obligations – CMOs).

The majority of the program will focus on the largest segment of the market, agency (FNMA, FHLMC and GNMA) residential mortgage backed securities, both pass-through securities and CMOs. However, the other market sectors (agency multi-family, non-agency CMOs and commercial mortgage-backed securities – CMBS) will be addressed in some detail.

Job Outlook

• Career prospects for people with similar training include: investors, commercial and investment bankers, lawyers, accountants, regulators.
• Employment of financial managers is projected to grow 7 percent from 2014 to 2024, about as fast as the average for all occupations.
• Median salary for Mortgage Backed Securities Analyst is $84,781. (source: Glassdoor)