Asset-backed security

Asset-backed securities are bonds backed by a pool of financial assets that cannot easily be traded in their existing form. By pooling together a large portfolio of these illiquid assets they can be converted into instruments that may be offered and sold more freely in the capital markets. A mortgage backed security is a special form of an asset backed security. The difference being that an ASB is usually backed by any asset except mortgage, like accounts receivables, credit card debt, or other credit.

See also

• Collateralized mortgage obligation
• Commercial Mortgage Backed Security (CMBS)
• Interest rate lock commitment (IRLC)
• Mortgage Backed Security (MBS)
• Residential Mortgage-Backed Security (RMBS)
• Securitization
• Structured finance

Lead underwriters

• Citigroup
• Countrywide Securities Corporation (subsidiary of Countrywide Financial)
• Lehman Brothers

Lists

• Thomson Financial League Tables

External links

• asset-backed security Definition