The Trainer has over 40 years’ experience in banking, finance and financial training. He has had practical banking experience with major banks in the areas of corporate credit analysis, Corporate Banking Relationship Management and Commercial Real Estate Debt Finance. The trainer was subsequently involved in Commercial Real Estate Financial Advisory business with a then newly formed financial services subsidiary of one of the world’s largest Real Estate advisory firms.
The Trainer has almost 25 years’ financial training experience in about 60 countries focused on large scale Corporate Credit Analysis, Corporate Banking and Structured Debt Finance (Project, Infrastructure and Real Estate Finance). He holds an MSc Real Estate Investment and Finance degree from the University of Reading (2014).
The trainer has worked with participants in a wide range of job functions and experience from Commercial and Investment Banks, Development Finance Institutions, Export Credit Agencies, Public Sector organisations and large corporates.
Housing is a fundamental need and the size of Housing Finance markets is huge with a range of financing instruments, both debt and equity related. There are a variety of ways where providers of finance can gain exposure to Housing related financing opportunities.
Real Estate values, including house prices, are very sensitive to the underlying economic fundamentals, political events as well as the financial markets and interest rates.
Following the onset of the credit crisis there has been substantial downturns in housing prices in some geographic markets and substantial price increases in other markets, emphasising that the traditional maxim of “as safe as houses” is not always the case.
By contrast however to some other sectors, such as Commercial Real Estate, Housing Finance can provide greater risk protection via diversification and also because transactions are, dependent on the financing structure, supported not just by the ongoing value of the underlying housing but also by rents and / or mortgage payments from Borrowers.
As a result of the impact of the “subprime crisis”, economic conditions and demographic shifts there are widespread concerns about issues such as housing booms and Affordable Housing. As a result there is a continuing need to find solutions to the financing of housing.
Given relatively low economic growth rates in many Developed Economies Housing Finance potentially provides an opportunity for providers of capital to gain exposure to a sector that provides a range of risk and return profiles.
This course will provide a forum for discussion of the various financing opportunities in the Housing Finance area and some of the features of, and structuring issues related to, various instruments that provide opportunities to gain exposure to the Housing Markets.
Using a mixture of presentations and mini case study examples this programme will focus on the following aspects of Housing Finance
For participants seeking to build their knowledge of the financial modelling of Housing Finance we suggest attendance on other programmes that concentrate on financial modelling.
This programme will be relevant to people working for organisations involved in the analysis and structuring of large scale Housing Finance transactions such as Banks, Institutional Investors, Sovereign Wealth Funds, Government Agencies, Social Housing organisations, Private Debt Funds, Real Estate Investors, housebuilders and advisers including:
Limited practical experience of Housing Finance transactions will be assumed.
Participants should however already be familiar with the core principles of credit risk analysis and the fundamental features of debt and equity financing instruments.
Trends in the housing markets and implications for financing needs and risks – overview of selected IMF and OECD statistics
Providers of residential mortgage finance and different models for Housing Finance
Discussion: The credit crisis in 2008 and the role of US Government Sponsored Entities – what were the contributing factors and what has been the response?
Case study: Rating a Housing Association debt issue
An overview of some key characteristics of selected types of Housing Finance transaction, such as
Exercise: Structuring a transaction supported by rental properties
Participants make a recommendation on a Leveraged Housing Finance Fund taking into account
|Training Course||Training Course Summary|
|Commercial Real Estate Debt Finance||Assess the key risk issues in Commercial Real Estate Finance|
|Real Estate Modelling||This course will teach you all the available techniques and how to practically apply them through the use of Excel, Estatemaster and Argus.|