|
<?xml version="1.0" encoding="UTF-8"?> |
|
<!DOCTYPE rdf:RDF [ |
|
<!ENTITY cmns-av "https://www.omg.org/spec/Commons/AnnotationVocabulary/"> |
|
<!ENTITY cmns-col "https://www.omg.org/spec/Commons/Collections/"> |
|
<!ENTITY dct "http://purl.org/dc/terms/"> |
|
<!ENTITY fibo-fbc-dae-dbt "https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/Debt/"> |
|
<!ENTITY fibo-fbc-fi-fi "https://spec.edmcouncil.org/fibo/ontology/FBC/FinancialInstruments/FinancialInstruments/"> |
|
<!ENTITY fibo-fnd-acc-cur "https://spec.edmcouncil.org/fibo/ontology/FND/Accounting/CurrencyAmount/"> |
|
<!ENTITY fibo-fnd-oac-own "https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership/"> |
|
<!ENTITY fibo-fnd-rel-rel "https://spec.edmcouncil.org/fibo/ontology/FND/Relations/Relations/"> |
|
<!ENTITY fibo-fnd-utl-alx "https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/Analytics/"> |
|
<!ENTITY fibo-fnd-utl-av "https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/AnnotationVocabulary/"> |
|
<!ENTITY fibo-ind-ei-ei "https://spec.edmcouncil.org/fibo/ontology/IND/EconomicIndicators/EconomicIndicators/"> |
|
<!ENTITY fibo-ind-ind-ind "https://spec.edmcouncil.org/fibo/ontology/IND/Indicators/Indicators/"> |
|
<!ENTITY fibo-loan-spc-cns "https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/ConsumerLoans/"> |
|
<!ENTITY fibo-loan-spc-crd "https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/CardAccounts/"> |
|
<!ENTITY fibo-loan-spc-stu "https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/StudentLoans/"> |
|
<!ENTITY fibo-sec-dbt-abs "https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/"> |
|
<!ENTITY fibo-sec-dbt-bnd "https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/Bonds/"> |
|
<!ENTITY fibo-sec-dbt-dbti "https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/DebtInstruments/"> |
|
<!ENTITY fibo-sec-dbt-pbs "https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/PoolBackedSecurities/"> |
|
<!ENTITY fibo-sec-fund-fund "https://spec.edmcouncil.org/fibo/ontology/SEC/Funds/Funds/"> |
|
<!ENTITY fibo-sec-sec-iss "https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/SecuritiesIssuance/"> |
|
<!ENTITY fibo-sec-sec-pls "https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/Pools/"> |
|
<!ENTITY owl "http://www.w3.org/2002/07/owl#"> |
|
<!ENTITY rdf "http://www.w3.org/1999/02/22-rdf-syntax-ns#"> |
|
<!ENTITY rdfs "http://www.w3.org/2000/01/rdf-schema#"> |
|
<!ENTITY skos "http://www.w3.org/2004/02/skos/core#"> |
|
<!ENTITY xsd "http://www.w3.org/2001/XMLSchema#"> |
|
]> |
|
<rdf:RDF xml:base="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/" |
|
xmlns:cmns-av="https://www.omg.org/spec/Commons/AnnotationVocabulary/" |
|
xmlns:cmns-col="https://www.omg.org/spec/Commons/Collections/" |
|
xmlns:dct="http://purl.org/dc/terms/" |
|
xmlns:fibo-fbc-dae-dbt="https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/Debt/" |
|
xmlns:fibo-fbc-fi-fi="https://spec.edmcouncil.org/fibo/ontology/FBC/FinancialInstruments/FinancialInstruments/" |
|
xmlns:fibo-fnd-acc-cur="https://spec.edmcouncil.org/fibo/ontology/FND/Accounting/CurrencyAmount/" |
|
xmlns:fibo-fnd-oac-own="https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership/" |
|
xmlns:fibo-fnd-rel-rel="https://spec.edmcouncil.org/fibo/ontology/FND/Relations/Relations/" |
|
xmlns:fibo-fnd-utl-alx="https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/Analytics/" |
|
xmlns:fibo-fnd-utl-av="https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/AnnotationVocabulary/" |
|
xmlns:fibo-ind-ei-ei="https://spec.edmcouncil.org/fibo/ontology/IND/EconomicIndicators/EconomicIndicators/" |
|
xmlns:fibo-ind-ind-ind="https://spec.edmcouncil.org/fibo/ontology/IND/Indicators/Indicators/" |
|
xmlns:fibo-loan-spc-cns="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/ConsumerLoans/" |
|
xmlns:fibo-loan-spc-crd="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/CardAccounts/" |
|
xmlns:fibo-loan-spc-stu="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/StudentLoans/" |
|
xmlns:fibo-sec-dbt-abs="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/" |
|
xmlns:fibo-sec-dbt-bnd="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/Bonds/" |
|
xmlns:fibo-sec-dbt-dbti="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/DebtInstruments/" |
|
xmlns:fibo-sec-dbt-pbs="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/PoolBackedSecurities/" |
|
xmlns:fibo-sec-fund-fund="https://spec.edmcouncil.org/fibo/ontology/SEC/Funds/Funds/" |
|
xmlns:fibo-sec-sec-iss="https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/SecuritiesIssuance/" |
|
xmlns:fibo-sec-sec-pls="https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/Pools/" |
|
xmlns:owl="http://www.w3.org/2002/07/owl#" |
|
xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" |
|
xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" |
|
xmlns:skos="http://www.w3.org/2004/02/skos/core#" |
|
xmlns:xsd="http://www.w3.org/2001/XMLSchema#"> |
|
|
|
<owl:Ontology rdf:about="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/AssetBackedSecurities/"> |
|
<rdfs:label xml:lang="en">Asset-backed Securities Ontology</rdfs:label> |
|
<dct:abstract>Debt securities backed by a pool of assets, including loans of various kinds, credit card pools and home equity lines of credit, as well as esoteric assets.</dct:abstract> |
|
<dct:license rdf:datatype="&xsd;anyURI">https://opensource.org/licenses/MIT</dct:license> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/BE/FunctionalEntities/FunctionalEntities/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/Debt/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FBC/FinancialInstruments/FinancialInstruments/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FND/Accounting/CurrencyAmount/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FND/Relations/Relations/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/Analytics/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/FND/Utilities/AnnotationVocabulary/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/IND/EconomicIndicators/EconomicIndicators/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/IND/Indicators/Indicators/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/CardAccounts/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/ConsumerLoans/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/LOAN/LoansSpecific/StudentLoans/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/Bonds/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/DebtInstruments/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Debt/PoolBackedSecurities/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Funds/Funds/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/Pools/"/> |
|
<owl:imports rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/Securities/SecuritiesIssuance/"/> |
|
<owl:imports rdf:resource="https://www.omg.org/spec/Commons/AnnotationVocabulary/"/> |
|
<owl:imports rdf:resource="https://www.omg.org/spec/Commons/Collections/"/> |
|
<owl:versionIRI rdf:resource="https://spec.edmcouncil.org/fibo/ontology/SEC/20230901/Debt/AssetBackedSecurities/"/> |
|
<fibo-fnd-utl-av:hasMaturityLevel rdf:resource="&fibo-fnd-utl-av;Release"/> |
|
<cmns-av:copyright>Copyright (c) 2015-2023 EDM Council, Inc.</cmns-av:copyright> |
|
<cmns-av:copyright>Copyright (c) 2023 Object Management Group, Inc.</cmns-av:copyright> |
|
</owl:Ontology> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;AutoAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-abs;AutoDebtPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">auto asset-backed security</rdfs:label> |
|
<skos:definition xml:lang="en">asset-backed security that is backed by an underlying pool of auto-related loans and/or leases</skos:definition> |
|
<cmns-av:adaptedFrom>https://content.naic.org/sites/default/files/capital-markets-primer-auto-abs.pdf</cmns-av:adaptedFrom> |
|
<cmns-av:explanatoryNote xml:lang="en">Auto asset-backed securities (auto ABS) are typically structured finance securities that are collateralized by auto loans or leases, such as those to prime (good credit standing) and subprime (poor credit standing) borrowers. Loans or leases are bundled into pools and transferred to a special-purpose entity (SPE), which, in turn, transfers the pool to a (bankruptcy remote) trust. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal which, in turn, transfers the pool to a (bankruptcy remote) trust, i.e., one that protects the security from bankruptcy. Payments on the underlying auto loans and leases are pooled in the trust, and the funds are used to pay note investors their respective principal and interest when due. Any leftover funds - known as excess spread, or the net interest margin - are paid to the equity holder (usually the issuer, such as an auto finance company).</cmns-av:explanatoryNote> |
|
<cmns-av:explanatoryNote xml:lang="en">If the credit risk of the pool has been decoupled from the institution via an SPV, then an auto asset-backed security is also a structured finance instrument.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;AutoDebtPool"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&cmns-col;hasConstituent"/> |
|
<owl:someValuesFrom> |
|
<owl:Class> |
|
<owl:unionOf rdf:parseType="Collection"> |
|
<rdf:Description rdf:about="&fibo-loan-spc-cns;MotorVehicleLoan"> |
|
</rdf:Description> |
|
<rdf:Description rdf:about="&fibo-fbc-dae-dbt;MotorVehicleLease"> |
|
</rdf:Description> |
|
</owl:unionOf> |
|
</owl:Class> |
|
</owl:someValuesFrom> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">auto debt pool</rdfs:label> |
|
<skos:definition xml:lang="en">debt pool of loans and/or leases that are motor vehicle-related</skos:definition> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;BondPool"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&cmns-col;hasConstituent"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-bnd;Bond"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">bond pool</rdfs:label> |
|
<skos:definition xml:lang="en">debt pool of consisting of bonds</skos:definition> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;ConsumerAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;StructuredFinanceInstrument"/> |
|
<rdfs:label xml:lang="en">consumer asset-backed security</rdfs:label> |
|
<skos:definition xml:lang="en">structured finance securities collateralized by pools of auto loans and leases (auto ABS), credit card receivables (credit card ABS) or student loans (student loan ABS)</skos:definition> |
|
<cmns-av:adaptedFrom>https://content.naic.org/sites/default/files/capital-markets-primer-consumer-abs.pdf</cmns-av:adaptedFrom> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;ControlledAmortizationAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-sec-dbt-dbti;hasRepaymentTerms"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-bnd;BondAmortizationPaymentTerms"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label>controlled amortization asset-backed security</rdfs:label> |
|
<skos:definition>asset-backed security based on a pool of bonds securitized using a controlled amortization structure</skos:definition> |
|
<cmns-av:adaptedFrom>http://www.investinginbonds.com/learnmore.asp?catid=11&subcatid=57&id=15</cmns-av:adaptedFrom> |
|
<cmns-av:explanatoryNote>Controlled-amortization ABS resemble corporate bonds with a sinking fund. After a predetermined 'revolving' period during which only interest payments are made, these securities attempt to return principal to investors in a series of defined periodic payments that usually occur over less than a year.</cmns-av:explanatoryNote> |
|
<cmns-av:explanatoryNote>Revolving debt (primarily credit card receivables, but also HELOCs, trade receivables, dealer floor-plan loans and some leases) may be securitized using a controlled amortization structure. This is a method of providing investors with a relatively predictable repayment schedule, even though the underlying assets are nonamortizing. A risk inherent in this kind of ABS is an early amortization event.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;CreditCardAccountPool"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&cmns-col;hasConstituent"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-loan-spc-crd;CreditCardAccount"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">credit card account pool</rdfs:label> |
|
<skos:definition xml:lang="en">pool of credit card receivables associated with designated accounts</skos:definition> |
|
<cmns-av:adaptedFrom xml:lang="en">Federal Deposit Insurance Corporation (FDIC) Credit Card Securitization Manual, available at https://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html</cmns-av:adaptedFrom> |
|
<cmns-av:explanatoryNote xml:lang="en">In a credit card securitization transaction only the receivables are sold, not the accounts that generate the receivables. The financial institution retains legal ownership of the credit card accounts and can continue to change the terms on the accounts. Accounts corresponding to securitized loans are typically referred to as the designated accounts (or sometimes trust accounts). The initial outstanding balances on the designated accounts are sold to the trust as are the rights to any new charges on the designated accounts. Subsequently, as cardholder purchase activity generates more receivables on the designated accounts, these new receivables are purchased by the trust from the originating institution/seller/transferor. The trust uses the monthly principal payments received from the cardholders to acquire these new charges or receivables. When the securitization is initially set up, the originating institution/seller adds sufficient receivables to support the principal balance of the certificates plus an additional amount (seller's interest) that serves to absorb fluctuations in the outstanding balance of the receivables. The originating institution/seller will make subsequent additions to the trust in order to keep the seller's interest at the required level.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;CreditCardAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-abs;CreditCardAccountPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">credit card asset-backed security</rdfs:label> |
|
<skos:definition xml:lang="en">asset-backed security based on credit card receivables</skos:definition> |
|
<cmns-av:adaptedFrom xml:lang="en">Federal Deposit Insurance Corporation (FDIC) Credit Card Securitization Manual, available at https://www.fdic.gov/regulations/examinations/credit_card_securitization/ch2.html</cmns-av:adaptedFrom> |
|
<cmns-av:explanatoryNote xml:lang="en">Credit card securitizations currently represent the primary funding vehicle for unsecured revolving consumer credit. Similar to mortgage and other asset securitizations, the financial institution that originates the credit card receivables sells a group of these receivables to a trust. The trust then creates and sells certificates backed by the credit card receivables to investors, which are predominately institutional investors. Very few credit card ABS are marketed to retail customers, primarily due to the complex nature of the transactions and the need to continually monitor various performance indices on the underlying receivables. The underlying credit card receivables generate income to support the interest payments on the certificates.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;FullyAmortizingAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label>fully amortizing asset-backed security</rdfs:label> |
|
<owl:disjointWith rdf:resource="&fibo-sec-dbt-abs;ControlledAmortizationAssetBackedSecurity"/> |
|
<skos:definition>asset-backed security based on a pool of debt instruments that returns principal to investors over the life of the security</skos:definition> |
|
<cmns-av:adaptedFrom>http://www.investinginbonds.com/learnmore.asp?catid=11&subcatid=57&id=15</cmns-av:adaptedFrom> |
|
<cmns-av:explanatoryNote>Fully amortizing asset-backed securities are designed to closely reflect the full repayment of the underlying loans through scheduled interest and principal payments.</cmns-av:explanatoryNote> |
|
<cmns-av:explanatoryNote>These are typically backed by HELs, auto loans, manufactured-housing contracts and other fully amortizing assets. Prepayment risk is a key consideration with such ABS, although the rate of prepayment may vary considerably by the type of underlying asset.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;HomeEquityLineOfCreditPool"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&cmns-col;hasConstituent"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-loan-spc-cns;HomeEquityLineOfCredit"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">home equity line of credit pool</rdfs:label> |
|
<skos:definition xml:lang="en">debt pool consisting of home equity loans</skos:definition> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;HomeEquityLoanAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-abs;HomeEquityLineOfCreditPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">home equity loan asset-backed security</rdfs:label> |
|
<skos:definition xml:lang="en">asset-backed security based on home equity loan receivables</skos:definition> |
|
<cmns-av:explanatoryNote xml:lang="en">If the credit risk of the pool has been decoupled from the institution via an SPV, then home equity asset-backed securities are also structured finance instruments.</cmns-av:explanatoryNote> |
|
<cmns-av:explanatoryNote xml:lang="en">Similar to mortgages, home equity loans are often taken out by borrowers who have less-than-stellar credit scores or few assets - the reason why they didn’t qualify for a mortgage. These are amortizing loans - that is, payment goes toward satisfying a specific sum and consists of three categories: interest, principal, and prepayments.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;StudentLoanAssetBackedSecurity"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-dbt-pbs;AssetBackedSecurity"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&fibo-fbc-fi-fi;hasUnderlier"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-sec-dbt-abs;StudentLoanPool"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">student loan asset-backed security</rdfs:label> |
|
<skos:definition xml:lang="en">asset-backed security based on student loan receivables</skos:definition> |
|
<cmns-av:explanatoryNote xml:lang="en">If the credit risk of the pool has been decoupled from the institution via an SPV, then student loan asset-backed securities are also structured finance instruments.</cmns-av:explanatoryNote> |
|
<cmns-av:explanatoryNote xml:lang="en">The main purpose behind Student Loan ABS is to diversify the risk for lenders across many investors. By pooling and then packaging the loans into securities and selling them to investors, agencies can spread around the default risk, which allows them to give out more loans and larger loans. This way, more students have access to loans, investors have a diversifying investment instrument, and lenders can generate consistent cash flow from their securitization and debt collection services.</cmns-av:explanatoryNote> |
|
</owl:Class> |
|
|
|
<owl:Class rdf:about="&fibo-sec-dbt-abs;StudentLoanPool"> |
|
<rdfs:subClassOf rdf:resource="&fibo-sec-sec-pls;DebtPool"/> |
|
<rdfs:subClassOf> |
|
<owl:Restriction> |
|
<owl:onProperty rdf:resource="&cmns-col;hasConstituent"/> |
|
<owl:someValuesFrom rdf:resource="&fibo-loan-spc-stu;StudentLoan"/> |
|
</owl:Restriction> |
|
</rdfs:subClassOf> |
|
<rdfs:label xml:lang="en">student loan pool</rdfs:label> |
|
<skos:definition xml:lang="en">debt pool consisting of student loans</skos:definition> |
|
</owl:Class> |
|
|
|
</rdf:RDF> |
