ABS Mastery
4-Week Advanced Course
Practitioner-grade ABS knowledge built for private credit fund operations. From securitisation mechanics to post-close surveillance — 37 topics, 4 deliverables, one mental model.
ABS Fundamentals & Asset Classes
Securitisation mechanics, SPV legal structure, asset class taxonomy, and the core quantitative metrics. Build the mental model before touching any numbers.
Deal Structuring & Financial Modeling
Tranching, credit enhancement, advance rates, revolving vs static pools, waterfall cash flow modeling, and stress testing.
Players, Roles & Transaction Documents
Every counterparty mapped — servicer, trustee, verification agent, rating agencies — plus the four core transaction documents and indenture section map.
Post-Close: Waterfalls, Surveillance & Wind-Down
Payment waterfall mechanics, collection period calendar, performance triggers, events of default, enforcement, surveillance reporting, rating monitoring, and clean-up call. Split into two parts.
EDGAR Live Deal Documents
Real 424B5 prospectuses — AmeriCredit 2024-1, Carvana 2024-P2, GM Financial 2024-4. Primary source for all waterfall, trigger, and legal structure study.
SEC EDGAR Full-Text Search →Free Primer PDFs
Angelo Oak Securitization 101, NAIC Consumer ABS, NAIC Auto ABS, Mayer Brown Back-Leverage, Waterfall AM Private ABS Primer.
Angelo Oak Primer →Market Data
SIFMA ABS Statistics (quarterly Excel), KBRA free research, RiskSpan blog, FRED ABS spread index.
SIFMA ABS Stats →