Modeling Structured Finance Cash Flows with Microsoft Excel: A Step-by-Step Guide.Book & CD-ROM

Structured finance and securitization deals are becoming more commonplace on Wall Street. Up until now, however, market participants have had to create their own models to analyze these deals, and new entrants have had to learn as they go. Modeling Structured Finance Cash Flows with Microsoft Excel provides readers with the information they need to build a cash flow model for structured finance and securitization deals. Financial professional Keith Allman explains individual functions and formulas, while also explaining the theory behind the spreadsheets. Each chapter begins with a discussion of theory, followed by a section called "Model Builder," in which Allman translates the theory into functions and formulas. In addition, the companion CD-ROM features all of the modeling exercises, as well as a final version of the model that is created in the text.

Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.

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All Customer Reviews
Average Customer Review:
0 of 0 people found the following review helpful:

Finally found what I've been looking for, 2009-11-08
As I was reading the preface to the book I found myself in the author's shoes earlier in his career. As a banking analyst right out of undergraduate, I picked up some modeling skills here and there but made no concerted effort to acquire formal training. As my career progressed two-three years out I recognized the value in modeling when I was forecasting a financial institution's losses on an ABS portfolio. I purchased a few books with VBA, financial modeling, and excel modeling in the title. All were wholly inadequate and provided some insight into modeling but were largely irrelevant to my objectives. A few hundred dollars late and more hours wasted than I care to count, I found myself sitting in an MBA course on data to decision making (stats) and learning bits and pieces about modeling but still nothing directly relevant to my interest in securitization modeling.

This book is exactly what I was looking for. I stongly, strongly recommend this to any one looking to acquire VBA proficiency in the context of modeling and monitoring structured finance transactions. I am indebted to the author and publisher for finally bringing to market a book thats been noticeably absent to any one looking in the past. You will not learn whats in this book in any other book, and you will save an enormous amount of time by going through the book and CD, and building a model concurrently.


0 of 1 people found the following review helpful:

The best first step on Structured Finance Modeling, 2008-05-05
It is a one good forst step if you want to learn how to model a structured finance product. With a very easy language and taking you by the hand the author gives you all the basis to learn something that many people consider complicate or very difficult


1 of 2 people found the following review helpful:

Cool, 2008-04-08
This is a good book. It is well-written, gives both the theoretical side and implementation, and gives tips on excel. I am a beginner but it was easy for me to follow. I recommend this book to anyone who wants to learn excel for i-banking or some other finance job.


1 of 2 people found the following review helpful:

Helps Building Cash Flow Model, 2008-01-02
Teaches how to build up a cash flow model for big companies such as banks and insurance companies. Not useful for small companies, but even for small companies gives some idea for building a cash flow model.


7 of 8 people found the following review helpful:

Good Intro to Cash Flow Modeling, 2007-09-20
Anyone needing to learn how structured finance cash flow models work will benefit from going through this book and building the spreadsheet-based model it describes. It will be faster if you are already good at using Excel for complex modeling or pricing, but there is a fair amount of Excel advice for those who need it. The book models a single pool of mortgages that can be described by weighted average statistics incorporating both prepayment and default scenarios. Great care is taken to make the model flexible in terms of the kinds of mortgages in the pool. On the liability side the model allows for the creation of a single senior class and a sub class with an interest rate swap and a reserve. While very good for learning the cash flow consequences of sequential and pro rata payment waterfalls, this model cannot describe the structures actually issued in the market. The skills learned, however, should allow the reader to build models capable of modeling issued structures.
The writing is clear and the examples are explained well. The flow of cash into and out of the structure is emphasized by clear inputs, cash flow modeling and summary outputs.

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