A Fast Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA (Wiley Finance) - Hardcover

Preinitz, William

Hardcover

ISBN 10: 0470398124 ISBN 13: 9780470398128

Publisher: Wiley, 2009

Synopsis

This book is designed to start with simple examples that progressively develop the reader's confidence to take on more complex tasks. There is very little theoretical discussion about computer science, operations research algorithms, mathematics, or finance. The thrust of the book is to teach the reader to break complex tasks down into simple tasks. It then looks to implement those simple tasks into VBA code using a critical subset of the features of the language.

The tentative contents is: (1) Why? What? Who? Where? and How? (2) Common Sense (3) Securitizing A Loan Portfolio (4) Understanding the Excel Waterfall (5) Designing the VBA Model (6) Laying the Model Groundwork (7) Recorded Macros: A First Look at the VBA Language (8) Writing Menus: An Introduction to Data, Ranges, Arrays, and Objects (9) Controlling the Flow of the Model (10) Building Messaging Capabilities (11) Designing the Model’s Reports (12) Main Program and Menus (13) Writing the Collateral Selection Code (14) Calculating the Cash Flows (15) Running the Waterfall: Producing Initial Results (16) Debugging the Model (17) Validating the Model (18) Running the Model (19) Building Additional Capabilities (20) Documentation of the Model (21) Managing the Growth of the Model (22) Building Portfolio Monitoring Model (23) Valuation Techniques: How do we Determine Price? (24) Challenging Times For the Deal (25) Parting Admonitions

About this title

About the Author

William Preinitz is a Managing Director with Citigroup Global Markets' Global Special Situations Group. He oversees new business origination-structured finance issuance, serv-icing operations, rating agency relationships, credit wrap providers, investors, analytical development, internal risk control, audit activities, hedging, and residual arbitrage activities.

From the Back Cover

A straightforward, how-to guide to the fundamentals of finance modeling

"This book is a complete, all-in-one toolkit for structured finance modeling with Excel VBA, written by a veteran of a leading Wall Street investment bank who is also a VBA instructor. Whether you are new to structured finance or a seasoned professional, you will find here all you need to model even the most complex structured finance transactions. The book and accompanying web site provide the theory, the organization, and the code itself that take you step-by-step through the entire process, right up to the tasks market participants are most focused on today: valuation and monitoring. In addition to the nuts and bolts, you will find explanations and insights that only an experienced structured finance banker can provide. This book is the definitive resource that will raise you above the competition in modeling structured finance transactions."
―Carol Childers, Director, Global Markets, Citigroup

"Learning VBA is a daunting undertaking, add to that the challenge and complexity of structured cash flows, and the task can become overwhelming. This book provides a great step-by-step approach to overcoming this hurdle. It is extremely easy to read and offers a deliverables checklist for each chapter to ensure all concepts have been understood before moving on. The reader comes away with not only a sense of the utility and flexibility of VBA but also a sense of the factors that play into structuring cash flows. Concepts that are extremely pertinent in today's market environment include the performance of collateral, pricing of securities, and impact of the economic environment on the cash flows available to investors and all interested parties."
―Kimberly Brown, Analyst, Commercial Real Estate, Citigroup

"Bill is extraordinarily methodical in real life, with a very wide view of life. This shows in his book. Rather than rush through the ins and outs of code, he emphasizes what is needed, why it is needed, and how it is used. This makes the book much more than just a book on financial models, and closer to a book on how to be a financial professional."
―Omar Haneff, Vice President, Proteus Technologies LLC

From the Inside Flap

An introductory work to structured modeling in Visual Basic Application (VBA), A Fast-Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA provides you with a concise, immediate, and practical guide to developing a meaningful level of modeling expertise on problems in structured finance. Designed to allow you to cross from the pure Excel world to the much more powerful and flexible world of VBA/Excel, this straightforward book is built around a structured finance case study in asset-based securitization.

Starting with basic examples that progressively develop your confidence to take on more complicated tasks, this book teaches you how to break complex tasks down into simple tasks and then implement them into VBA code using a critical subset of the features of the language. This hands-on, step-by-step guide features coverage of:

• General modeling concepts

• The Cash Flow Waterfall in Excel code

• Organizing and creating VBA modules to hold your model code

• Generating VBA code from recorded macros, and how to simplify and extract it for use in your model

• Efficiently using VBA statements to control the flow of the model

• How to use template files for efficient and flexible report writing

• Writing a collateral selection and reporting capability into your model

• How to generate collateral cash flows on a loan-by-loan, period-by-period basis

• Calculation optimization applied to collateral cash flow amortization

• How to use the VBA debugger to detect and correct different types of errors

• How to use the completed model to structure and size a finance deal

• Modifying the model to allow multiple scenario runs

• Protecting and evolving the model so it continues to create value for the business unit

• How to add additional reporting and analytical features to the existing model

• How to convert the structuring model into a monitoring and valuation model

• Allowing for the use of monthly empirical performance information

• Use of the monitoring and valuation model to track the performance of the deal

• Valuing the deal based on its performance, market conditions, and rating criteria

Accompanied by an online resource containing a complete working model and all the data and files professionals need to run it, A Fast-Track to Structured Finance Modeling, Monitoring, and Valuation: Jump Start VBA is the only book written for the complete novice, enhancing your ability to break complex, seemingly insoluble problems down into a set of manageable tasks, through the use of VBA.

Edition details

• Publisher: Wiley
• Publication date: 2009
• Language: English
• ISBN 10: 0470398124
• ISBN 13: 9780470398128
• Binding: Hardcover
• Edition number: 1
• Number of pages: 768