{"product_id":"intermediate-structured-finance-modeling-with-website-isbn-9780470562390","title":"Intermediate Structured Finance Modeling, with Website","description":"This book is written for financial analysts who have a working knowledge of Excel and VBA and who wish to enhance their marketability by improving their modeling expertise.  The goal of the book is to broaden the reader’s VBA skills and at the same time to progressively integrate Access, PowerPoint, and Outlook into an existing model.  Significant attention is also directed to the design and execution of an Excel\/VBA interface employing detailed UserForms.  In addition, the construction of various reports, first in Excel, then Access, and finally PowerPoint is undertaken.  Regardless of your area of financial expertise, this book serves as an essential guide to mastering leveraging the effects of Microsoft products in whatever applications you choose to build.  \u003cp\u003eThe focus of the book is a case study containing a structured finance model.  The case study model was originally designed for the securitization of a portfolio of commercial small business loans.  This model now needs to be expanded to securitize a much larger portfolio of residential mortgages. \u003c\/p\u003e \u003cp\u003eThe Original Structuring model will be bifurcated into a Sources of Funds model, the assets of the collateral pool, and a Uses of Funds model, the liabilities waterfall model.  This will give the reader experience working with an existing model as a base departure point of development rather than the less common “start from scratch” approach.  Once the Base Asset Model (BAM) and the Base Liabilities Models (BLM) are complete, each model will serve as the platform for future development.  From the BAM and BLM a pair of much more robust models, the Collateral Cash Flow Generator (CCFG) and the Liabilities Waterfall Model (LWM), respectively, are created.  The CCFG is designed to process a significantly greater quantity, variety, and complexity of collateral types.  It also introduces the analyst to Geographic based prepayment methods as well as those using Financial\/Demographic factor approaches. The LWM, operating independently of the CCFG, reads the collateral cash flow scenarios and applies them across a two tiered, six tranche bond structure.  The liabilities waterfall contains provision for an interest rate swap, performance triggers and a variety of other credit enhancement features.\u003c\/p\u003e \u003cp\u003eWith the CCFG and LWM now complete Access is introduced.  Access will replace various Excel\/VBA code modules in the CCFG such as the collateral data management, data scrubbing and reporting, data sufficiency testing, and eligibility screening.  Access is also employed to export and the various collateral cash flows.   In the LWM Access is used to import the cash flows, store the liability structure specifications, and export\/save the resultant structure performance.  PowerPoint is then introduced in the CCFG to allow for the fully automated production of presentation report packages.  Last Outlook is added to the models to inform the analyst of model performance and to automatically distribute the various report packages to pre-designated mailing lists.\u003c\/p\u003e \u003cp\u003eThe book contains over 750 exhibits of reports, menus, calculation, and algorithmic examples and most of all code.  The complete Excel, VBA, Access, PowerPoint, and Outlook code for all of the models is included on the Web site.  The Web site also includes Web chapters containing detailed instructions on how to create and populate a directory environment to store this code, run the models, and organize the results.  Lastly there are other Web chapters containing supplemental information explaining the structure and function of the original model, bond and mortgage math (with calculation examples), representative line generator programs, and a tutorial on the construction and integration of UserForms.\u003c\/p\u003e \u003cp\u003eThis book is the intermediate level companion volume to \u003ci\u003eA Fast-Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA; Preinitz; Wiley 2009\u003c\/i\u003e, an introductory work on the subject.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eGoals of the Book xv\u003c\/p\u003e \u003cp\u003eWhat You Should Know xvi\u003c\/p\u003e \u003cp\u003eSetting the Context for Learning xviii\u003c\/p\u003e \u003cp\u003eThe Structure of the Book xix\u003c\/p\u003e \u003cp\u003eA Fish Story xxiii\u003c\/p\u003e \u003cp\u003eA Perspective on Modeling xxiii\u003c\/p\u003e \u003cp\u003eApproaching This Material xxiv\u003c\/p\u003e \u003cp\u003eStyle xxv\u003c\/p\u003e \u003cp\u003eA Parting Remark xxv\u003c\/p\u003e \u003cp\u003eOn the Web Site xxvii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxxv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 1 First Steps 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Introduction 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 5\u003c\/p\u003e \u003cp\u003eWhy Was This Book Written? 5\u003c\/p\u003e \u003cp\u003eWho Is the Target Audience? 9\u003c\/p\u003e \u003cp\u003eWhat Is the Purpose of the Book? 10\u003c\/p\u003e \u003cp\u003eExpanding Your Software Skills 10\u003c\/p\u003e \u003cp\u003eExpanding Your Model Design Skills 12\u003c\/p\u003e \u003cp\u003eExpanding Your Finance Knowledge 12\u003c\/p\u003e \u003cp\u003eOrganized to Teach 14\u003c\/p\u003e \u003cp\u003eChapter Organization 15\u003c\/p\u003e \u003cp\u003eAccompanying Web Site 17\u003c\/p\u003e \u003cp\u003eLearning the “Hard” Way 18\u003c\/p\u003e \u003cp\u003eNote 19\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 The Existing Model 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 21\u003c\/p\u003e \u003cp\u003eDeliverables 22\u003c\/p\u003e \u003cp\u003eUnder Construction 23\u003c\/p\u003e \u003cp\u003eCrisis du Jour 23\u003c\/p\u003e \u003cp\u003eOverview of the Current Model 24\u003c\/p\u003e \u003cp\u003eCurrent Model Environment 51\u003c\/p\u003e \u003cp\u003eOn the Web Site 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Conventions and Advice 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 55\u003c\/p\u003e \u003cp\u003eDeliverables 56\u003c\/p\u003e \u003cp\u003eVBA Conventions 56\u003c\/p\u003e \u003cp\u003eCommon Sense 70\u003c\/p\u003e \u003cp\u003eOn the Web Site 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Segregation of the Existing Model’s Functionality 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 73\u003c\/p\u003e \u003cp\u003eDeliverables 73\u003c\/p\u003e \u003cp\u003eUnder Construction 73\u003c\/p\u003e \u003cp\u003eDeliverables Checklist 74\u003c\/p\u003e \u003cp\u003eBreaking Up Is Hard to Do 74\u003c\/p\u003e \u003cp\u003eAccommodating Our Design Needs 76\u003c\/p\u003e \u003cp\u003eAdvantages of Functional Segregation 76\u003c\/p\u003e \u003cp\u003eDisadvantages of Functional Segregation 79\u003c\/p\u003e \u003cp\u003eOn the Web Site 80\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Creating the Base Asset Model 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 81\u003c\/p\u003e \u003cp\u003eDeliverables 81\u003c\/p\u003e \u003cp\u003eUnder Construction 82\u003c\/p\u003e \u003cp\u003eThe Big Picture: “Just the Assets, Ma’am” 82\u003c\/p\u003e \u003cp\u003eStepping through the Model 84\u003c\/p\u003e \u003cp\u003eTesting the Completed Base Asset Model 119\u003c\/p\u003e \u003cp\u003eOn the Web Site 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Building the Base Liabilities Model 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 123\u003c\/p\u003e \u003cp\u003eDeliverables 123\u003c\/p\u003e \u003cp\u003eUnder Construction 124\u003c\/p\u003e \u003cp\u003eLiabilities Side of the Model 125\u003c\/p\u003e \u003cp\u003eWhat to Leave In 126\u003c\/p\u003e \u003cp\u003eStepping through the Model 126\u003c\/p\u003e \u003cp\u003eReading the Cash Flows and Assumptions from a File 151\u003c\/p\u003e \u003cp\u003eTesting the Completed Base Liabilities Model 162\u003c\/p\u003e \u003cp\u003eOn the Web Site 164\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Establishing the Model Environment 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 167\u003c\/p\u003e \u003cp\u003eDeliverables 168\u003c\/p\u003e \u003cp\u003eUnder Construction 168\u003c\/p\u003e \u003cp\u003eImportance of a Standardized Directory Structure 168\u003c\/p\u003e \u003cp\u003eCreating Directories and Defining Their Functions 168\u003c\/p\u003e \u003cp\u003eOperating Directories 170\u003c\/p\u003e \u003cp\u003eAdministrative Directories 175\u003c\/p\u003e \u003cp\u003eCreating New Directories for the Model as We Need Them 176\u003c\/p\u003e \u003cp\u003eOn the Web Site 177\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 2 Building the New Assets Model 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Designing the New Collateral Cash Flow Generator 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 181\u003c\/p\u003e \u003cp\u003eDeliverables 183\u003c\/p\u003e \u003cp\u003eUnder Construction 183\u003c\/p\u003e \u003cp\u003eImproving the CCFG Menus: Conversion to UserForms 183\u003c\/p\u003e \u003cp\u003eImproving the CCFG Data-Handling Capabilities 199\u003c\/p\u003e \u003cp\u003eImproving the CCFG Collateral Selection Process 209\u003c\/p\u003e \u003cp\u003eImproving the CCFG Cash Flow Generation Process 212\u003c\/p\u003e \u003cp\u003eImproving the CCFG Report Generation Process 215\u003c\/p\u003e \u003cp\u003eImproving the CCFG Messaging Process 220\u003c\/p\u003e \u003cp\u003eOn the Web Site 220\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Writing the CCFG Menus and Data Sheets 221\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 221\u003c\/p\u003e \u003cp\u003eDeliverables 221\u003c\/p\u003e \u003cp\u003eUnder Construction 222\u003c\/p\u003e \u003cp\u003eMenus and UserForms 222\u003c\/p\u003e \u003cp\u003eMenus of the CCFG 241\u003c\/p\u003e \u003cp\u003eMain Menu 242\u003c\/p\u003e \u003cp\u003eRun Options Menu 243\u003c\/p\u003e \u003cp\u003eCollateral Pool Menu 255\u003c\/p\u003e \u003cp\u003eCollateral Geographic Selection Criteria Menu 259\u003c\/p\u003e \u003cp\u003eFinancial Selection Criteria Menu 288\u003c\/p\u003e \u003cp\u003eCash Flow Amortization Parameters Menu 299\u003c\/p\u003e \u003cp\u003eCollateral Reports Menu 303\u003c\/p\u003e \u003cp\u003eOn the Web Site 316\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Writing the Collateral Data Handling Code 317\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 317\u003c\/p\u003e \u003cp\u003eDeliverables 318\u003c\/p\u003e \u003cp\u003eUnder Construction 318\u003c\/p\u003e \u003cp\u003eManaging Multiple Portfolio Files 320\u003c\/p\u003e \u003cp\u003eInitial Data Screening 335\u003c\/p\u003e \u003cp\u003eWriting the Screening Process VBA Code 343\u003c\/p\u003e \u003cp\u003eWriting the Initial Data Screening Reports 351\u003c\/p\u003e \u003cp\u003eWriting the Demographic Methodology Risk Reports 360\u003c\/p\u003e \u003cp\u003eBuilding a Representative Line Generator Program 365\u003c\/p\u003e \u003cp\u003eBuilding the Rep Line Generator Program 369\u003c\/p\u003e \u003cp\u003eOn the Web Site 387\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Writing the Collateral Selection Code 389\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 389\u003c\/p\u003e \u003cp\u003eDeliverables 390\u003c\/p\u003e \u003cp\u003eUnder Construction 390\u003c\/p\u003e \u003cp\u003eBuilding the Code 391\u003c\/p\u003e \u003cp\u003eFinancial and Demographic Selection Code 392\u003c\/p\u003e \u003cp\u003eFinancial Collateral Selection Process Reporting 398\u003c\/p\u003e \u003cp\u003eGeographic Selection Code 416\u003c\/p\u003e \u003cp\u003eGeographic Concentration Code 419\u003c\/p\u003e \u003cp\u003eIntroduction to Geographic Reporting 433\u003c\/p\u003e \u003cp\u003eOn the Web Site 458\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Writing the Collateral Cash Flow Amortization Code 459\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 459\u003c\/p\u003e \u003cp\u003eDeliverables 459\u003c\/p\u003e \u003cp\u003eUnder Construction 460\u003c\/p\u003e \u003cp\u003eQuick Review of Existing CF Generation Code 461\u003c\/p\u003e \u003cp\u003eAdding New Mortgage Types 462\u003c\/p\u003e \u003cp\u003eNew Prepayment and Default Methodologies 473\u003c\/p\u003e \u003cp\u003eUniform Methodology 474\u003c\/p\u003e \u003cp\u003eGeographic Methodology 478\u003c\/p\u003e \u003cp\u003eDemographic Methodology 493\u003c\/p\u003e \u003cp\u003eReporting the Results of the Cash Flow Calculations 503\u003c\/p\u003e \u003cp\u003eWriting the Assumptions Report Package 511\u003c\/p\u003e \u003cp\u003eOn the Web Site 518\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 Writing the CCFG Reporting Capability 519\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 519\u003c\/p\u003e \u003cp\u003eDeliverables 520\u003c\/p\u003e \u003cp\u003eUnder Construction 520\u003c\/p\u003e \u003cp\u003eRecapping the CCFG Report Package 521\u003c\/p\u003e \u003cp\u003eCCFG Activities and Reports 522\u003c\/p\u003e \u003cp\u003eEligible Collateral Assessment Process 524\u003c\/p\u003e \u003cp\u003eGeographic\/Demographic Reports 555\u003c\/p\u003e \u003cp\u003ePresentation Reports 560\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 3 Building the New Liabilities Model 583\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14 Designing the Liabilities Waterfall Model 585\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 585\u003c\/p\u003e \u003cp\u003eDeliverables 585\u003c\/p\u003e \u003cp\u003eUnder Construction 585\u003c\/p\u003e \u003cp\u003eStructure of the Deal: Sources and Uses of Funds 586\u003c\/p\u003e \u003cp\u003eDesign Elements of the LWM 589\u003c\/p\u003e \u003cp\u003eMain Menu 590\u003c\/p\u003e \u003cp\u003eReport Package Menu UserForm 590\u003c\/p\u003e \u003cp\u003eStructure Inputs Menu 591\u003c\/p\u003e \u003cp\u003eLiabilities Waterfall Worksheet 592\u003c\/p\u003e \u003cp\u003ePerformance Summary Page 600\u003c\/p\u003e \u003cp\u003eVBA Code Modules 600\u003c\/p\u003e \u003cp\u003eReport Template Files 604\u003c\/p\u003e \u003cp\u003eOn the Web Site 616\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15 Writing the Liabilities Waterfall Model Spreadsheet 617\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 617\u003c\/p\u003e \u003cp\u003eDeliverables 617\u003c\/p\u003e \u003cp\u003eUnder Construction 618\u003c\/p\u003e \u003cp\u003eDeal Structure Inputs 618\u003c\/p\u003e \u003cp\u003eBuilding the Liabilities Waterfall Model 623\u003c\/p\u003e \u003cp\u003ePeriod Factors Worksheet 650\u003c\/p\u003e \u003cp\u003eTotal Cash Flows Section 651\u003c\/p\u003e \u003cp\u003eResults Page Worksheet 651\u003c\/p\u003e \u003cp\u003eOn the Web Site 657\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 16 Writing the LWM VBA Code 659\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 659\u003c\/p\u003e \u003cp\u003eDeliverables 660\u003c\/p\u003e \u003cp\u003eUnder Construction 660\u003c\/p\u003e \u003cp\u003eVBA Requirements of the LWM 665\u003c\/p\u003e \u003cp\u003eMenus of the LWM 666\u003c\/p\u003e \u003cp\u003eMain Program 679\u003c\/p\u003e \u003cp\u003eError Checking the Main Menu Inputs 681\u003c\/p\u003e \u003cp\u003eImporting the Liability Structure Inputs 682\u003c\/p\u003e \u003cp\u003eImporting the Cash Flows of the CCFG 686\u003c\/p\u003e \u003cp\u003eLoading and Running the LWM 693\u003c\/p\u003e \u003cp\u003eReporting the Results 696\u003c\/p\u003e \u003cp\u003eOther Functionality 718\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 4 Access, PowerPoint, and Outlook 721\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 17 Access: An Introduction 723\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 723\u003c\/p\u003e \u003cp\u003eDeliverables 724\u003c\/p\u003e \u003cp\u003eUnder Construction 724\u003c\/p\u003e \u003cp\u003eBasics of Access 724\u003c\/p\u003e \u003cp\u003eOpening Access and Creating a Database 726\u003c\/p\u003e \u003cp\u003eAccess Tables 728\u003c\/p\u003e \u003cp\u003eGetting the Data In: Entering Data 731\u003c\/p\u003e \u003cp\u003eGetting the Data Back Out: Queries 740\u003c\/p\u003e \u003cp\u003eBasics of Structured Query Language 754\u003c\/p\u003e \u003cp\u003eConcluding Remarks 762\u003c\/p\u003e \u003cp\u003eOn the Web Site 762\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 18 Implementing Access in the CCFG and LWM 763\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 763\u003c\/p\u003e \u003cp\u003eDeliverables 764\u003c\/p\u003e \u003cp\u003eUnder Construction 764\u003c\/p\u003e \u003cp\u003eAccess and the Collateral Cash Flow Generator 766\u003c\/p\u003e \u003cp\u003eCollateral Portfolio Data 767\u003c\/p\u003e \u003cp\u003eGeographic Selection Criteria 781\u003c\/p\u003e \u003cp\u003eGeographic Concentration Criteria 794\u003c\/p\u003e \u003cp\u003eInitial Data Screening Criteria 796\u003c\/p\u003e \u003cp\u003eCustom Financial Selection Criteria 805\u003c\/p\u003e \u003cp\u003eRun Options Elections 815\u003c\/p\u003e \u003cp\u003eGenerating the Loan Portfolio 818\u003c\/p\u003e \u003cp\u003eMonthly Cash Flows Scenarios 822\u003c\/p\u003e \u003cp\u003eAccess in CCFG Reporting 825\u003c\/p\u003e \u003cp\u003eAccess and the Liabilities Waterfall Model 827\u003c\/p\u003e \u003cp\u003eConnecting the LWM to the CCFG 827\u003c\/p\u003e \u003cp\u003eStructure Worksheet Objects 828\u003c\/p\u003e \u003cp\u003eRetrieving the Monthly Cash Flow Scenarios 831\u003c\/p\u003e \u003cp\u003eStoring LWM Run Results in the Database 832\u003c\/p\u003e \u003cp\u003eConcluding Remarks 843\u003c\/p\u003e \u003cp\u003eOn the Web Site 843\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 19 Implementing PowerPoint and Outlook in the CCFG 845\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 845\u003c\/p\u003e \u003cp\u003eDeliverables 845\u003c\/p\u003e \u003cp\u003eUnder Construction 846\u003c\/p\u003e \u003cp\u003eUsing PowerPoint in the CCFG 846\u003c\/p\u003e \u003cp\u003eData Requirements 851\u003c\/p\u003e \u003cp\u003eAdding a New Class of Reports 856\u003c\/p\u003e \u003cp\u003eIntroduction to PowerPoint in VBA 860\u003c\/p\u003e \u003cp\u003ePreparing the Data for Use 867\u003c\/p\u003e \u003cp\u003eFirst Time Homeowners Slide 869\u003c\/p\u003e \u003cp\u003eCreating the Null Report 874\u003c\/p\u003e \u003cp\u003eMS Outlook 876\u003c\/p\u003e \u003cp\u003eOn the Web Site 882\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART 5 Running the CCFG and the LWM 885\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 20 Running the Models 887\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview 887\u003c\/p\u003e \u003cp\u003eDeliverables 887\u003c\/p\u003e \u003cp\u003eUnder Construction 888\u003c\/p\u003e \u003cp\u003eRunning the CCFG, Analyzing the Asset Side of the Deal 888\u003c\/p\u003e \u003cp\u003eLiabilities Side of the Deal 923\u003c\/p\u003e \u003cp\u003ePreparing a PowerPoint Presentation about Geographic Concentration 933\u003c\/p\u003e \u003cp\u003eOn the Web Site 935\u003c\/p\u003e \u003cp\u003eAfterword 941\u003c\/p\u003e \u003cp\u003eExhibits Index 943\u003c\/p\u003e \u003cp\u003eSubject Index 975\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eWILLIAM PREINITZ\u003c\/b\u003e has thirty years' experience in investment banking and structured finance analytics. A former managing director at Citigroup, highlights of his career include the creation and marketing of securitizations backed by 12b-1 mutual fund fees. With a team of ten people over a fifteen-year period, his group concurrently provided analytical structuring support for the over 100 different asset classes contained in the ABCP program of the bank. These included such varied items as movie revenues, fast-food franchise financing, and communication satellite leasing. In conjunction with the bank's corporate training program, he taught Excel\/VBA modeling classes to over 300 people ranging from associates to managing directors.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eMATTHEW NIEDERMAIER\u003c\/b\u003e is currently a vice president in the Structured Finance Group at Markit, where he is a member of a pricing and valuation group focused on agency mortgages and CMOs. Within Markit he has also taught courses in Excel\/VBA globally. Prior to Markit he modeled U.S. and Latin American ABS deals at Citigroup, including auto loans, credit cards,and timeshares.   \u003c\/p\u003e\u003cp\u003eRegardless of your financial specialization, this book is an essential learning tool in leveraging Microsoft products in whatever modeling applications you choose to build. The principles outlined here can be readily employed across all fields of financial and non-financial modeling.  \u003c\/p\u003e\u003cp\u003eThis book is written for financial analysts who have a working knowledge of Excel and VBA and who wish to enhance their productivity and marketability by improving their modeling expertise. The goal of the book is to broaden the reader's Excel\/VBA skills and to demonstrate the progressive integration of Access, PowerPoint, and Outlook into a modeling environment. Significant attention is also directed to the design and execution of an Excel\/VBA user interface employing complex UserForms.  \u003c\/p\u003e\u003cp\u003eThe focus of the book is a case study containing a structured finance model. An exisiting Excel\/VBA model is segregated into separate Asset and Liability Models. These two models are then extensively developed by creating sophisticated UserForm interfaces, expanding computational subroutines, and implementing more elaborate and detailed report packages. Access databases are then incorporated to manage sets of model inputs and results. The capability to automatically produce a ready-to-use PowerPoint presentation is also added. Finally, Outlook is integrated to automate status reporting and distribution of model report packages.  \u003c\/p\u003e\u003cp\u003eThe book contains over 750 exhibits of VBA and Access code, Excel menus and UserForms, as well as financial calculation algorithms and reports. Complete working versions of all models, their input files, and report results are included on the Web site. Other web chapters contain detailed instructions on how to create a directory environment to download and run the models, supplemental bond and mortgage math primers, a discussion of representative line generator programs, and a tutorial on Excel UserForms.  \u003c\/p\u003e\u003cp\u003eThis book is the intermediate-level companion volume to \u003ci\u003eA Fast-Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA,\u003c\/i\u003e an introductory work on the subject.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989444706533,"sku":"NP9780470562390","price":175.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470562390.jpg?v=1761784124","url":"https:\/\/k12savings.com\/es\/products\/intermediate-structured-finance-modeling-with-website-isbn-9780470562390","provider":"K12savings","version":"1.0","type":"link"}