Financial Instruments, Structured Products and Real Estate

Breaking the Ice: Using Transparency to Thaw the Securitization Market
The combined effects of weakening credit assessments and a downturn in the housing market and global economy led to a dramatic decrease in new securitization transactions. Although securitization is expected to maintain its key role in global capital markets, the market continues to face challenges as it recovers.

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Emerging Trends in Real Estate® 2012
This outlook for the real estate and land use industry includes interviews and survey responses from more than 950 leading real estate experts, including investors, developers, property company representatives, lenders, brokers and consultants.

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View the replay of our most recent FSR Webcast Series - Market Updates Q2 US & Global Outlook
We invite you to join us for a webcast focused on the emerging trends and latest news as they relate to the Financial Instruments, Structured Finance & Real Estate Industries.

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The Financial Instruments, Structured Products and Real Estate (FSR) group consists of 200 professionals, based in New York, Washington, DC, London, Sydney, and other key locations throughout the world. Our professionals comprise a comprehensive team with the skills to support a securitization transaction from start to finish.

Over the past 20 years, PwC's FSR group has assisted our clients in virtually every aspect of the structured finance business, and has earned a distinguished reputation for professional excellence and leadership by developing innovative, cost-effective solutions to complex problems.

Our diverse, multi-disciplined team is unique in its approach to blending and managing all of the skills necessary to service this dynamic and fast changing market. The PwC FSR group has experience in all aspects of securitization accounting, tax, finance, servicing, valuation, asset analysis and due diligence, structuring alternatives, transaction closings and issuance, trustee and bond administration operations, investor reporting, financial reporting, compliance, Regulation AB reporting, technology, transaction surveillance, and risk management.

Our approach to serving you is based on your strategic objectives. We start by gaining an understanding of your business model, and then assemble your team to support those efforts. Your PwC team will have the experience and breadth of skills to help you achieve your goals.

A key characteristic that distinguishes PwC is our fully dedicated technology team within the FSR group. We provide technology based solutions to data and infrastructure problems unique to the structured finance industry.

PwC has developed several systems to handle different aspects of the structured finance market. Our Asset Securitization AnalysisPro® ("ASAP") system is used internally for transaction closing services and has been licensed to select clients for reverse engineering, tax compliance and bond payment calculations.

The PwC FSR group utilizes proprietary computer models to test and analyze collateral and proposed structures. Our models provide flexibility in analyzing the most complex transactions, and we have the capability to handle a wide variety of collateral and assumptions (prepayments and defaults under various loss/recovery scenarios).

We use our models generated cash flow reports and statistics for disclosure purposes under various stress scenarios, and to perform agreed-upon procedures for the offering materials.

Our Tax Services consist of tax consulting and tax compliance for securitization, leasing and financial products transactions, as well as for the sponsors, underwriters and collateral managers of, and investors in, the transaction. We review the financial data and activities of the transaction and determine appropriate tax calculations and characterizations. The tax services include an analysis of collateral held in the fund and assets traded during the year, a review of the hedge agreements and review of the terms of the notes issued.

 

How PwC can help you

PwC is a recognized leader in serving the global capital markets and securitization industry.

FSR group provides clients with:

• Coordinated accounting, tax, finance, technology and advisory capabilities
  
  
• A team of professionals, who are based in New York; Washington, DC; London and other locations throughout the world. A singular comprehensive global team necessary to support a structured transaction from start to finish
  
  
• Experience in virtually all asset types and classes, including loans, debt and equity securities, derivatives, structured notes, Mortgage Backed Securities, Asset Backed Securities and Collateral Debt Obligations
  
  
• A team with a variety of functional and industry specialties to provide a broad array of insights into developments in structured credit products, capital markets, investment banking, transaction structures, investor reporting, and technology
  
  
• Valuation knowledge to assess processes for valuing interests in securitizations including servicing rights, cash reserve accounts, retained interests and other investments.