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Mortgage Backed Securities (MBS) Masterclass for Finance (Udemy.com)

Beginner to Advanced: Securitization, Cash Flows, CMOs, PAC Tranches & Financial Markets Mastery

Created by: Starweaver Group

Last updated September 2026

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What you will learn

  • Describe the characteristics and types of mortgage loans and how they are securitized into mortgage-backed securities (MBS)
  • Understand the role of mortgage-backed securities in the broader fixed income market and their use in portfolio construction and asset allocation strategies
  • Evaluate the suitability of different mortgage-backed securities for various investor objectives, and risk tolerances
  • Determine the appropriate pricing and valuation techniques for different types of MBS
  • Analyze the impact of interest rates and prepayment rates on the value of mortgage-backed securities
  • Assess the performance and risk characteristics of pass-through securities and how they differ from other types of MBS
  • Explain what are pass-through securities, their associated risks, and how prices and yields are calculated for these instruments

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Course Description

This course provides an in-depth introduction to the various types of mortgage-backed securities (MBS) commonly encountered in the market, including pass-through securities and collateralised mortgage obligations (CMOs). You will gain insight into key concepts used to assess the attractiveness of mortgage-backed securities and understand how these securities function within the broader mortgage-backed securitisation process.

You’ll also explore the pricing, performance, and risk characteristics of different types of mortgage-backed securities, and gain a deeper knowledge of how they work in real-world applications.

This course contains 21 lectures divided into 4 sections:

  • Introduction to Mortgages and Mortgage-Backed Securities

  • Pass-Through Securities

  • Analysis of Pass-Through Securities

  • Collateralised Mortgage Obligations (CMOs)

More about this course and Starweaver

This course is led by a seasoned capital markets industry practitioner and executive with many years of hands-on, in-the-trenches financial markets sales, trading and analysis work. It has been designed, produced and delivered by Starweaver. Starweaver is one of the most highly regarded, well-established training providers in the World, providing training courses to many of the leading financial institutions and technology companies, including:

Ahli United Bank; Mashreqbank; American Express; ANZ Bank; ATT; Banco Votorantim; Bank of America; Bank of America Global Markets; Bank of America Private Bank; Barclay Bank; BMO Financial Group; BMO Financial Services; BNP Paribas; Boeing; Cigna; Citibank; Cognizant; Commerzbank; Credit Lyonnais/Calyon; Electrosonic; Farm Credit Administration; Fifth Third Bank; GENPACT; GEP Software; GLG Group; Hartford; HCL; HCL; Helaba; HSBC; HSBC Corporate Bank; HSBC India; HSBC Private Bank; Legal & General; National Australia Bank; Nomura Securities; PNC Financial Services Group; Quintiles; RAK Bank; Regions Bank; Royal Bank of Canada; Royal Bank of Scotland; Santander Corporate Bank; Tata Consultancy Services; Union Bank; ValueMomentum; Wells Fargo; Wells Fargo India Solutions; Westpac Corporate Bank; Wipro; and, many others.

Happy learning.

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Instructor Details

Starweaver Group

351,000+ learners trust Starweaver to build careers that last.

Starweaver is a global professional education company with many millions of learners globally (over 350,000+  enrolled learners, 51,000+ verified reviews on Udemy), and a roster of hundreds of practitioner-instructors operating across six continents. Every course and asset we create for you is crafted and delivered by REAL professionals (not AI avatars) who have worked in the exact roles you're training for, and the precise skills you see to develop.

No fluff. No theory-only lectures. Just skills you can apply from day one.

Finance, Capital Markets & Banking: Master financial modelling, derivatives, credit risk, fixed income, equity valuation, corporate finance, and capital markets. Ideal for CFA candidates, investment banking professionals, and anyone building a career in financial services.

Artificial Intelligence & Data Science: Learn Machine learning, Deep learning, Generative AI, ChatGPT, Prompt engineering, Power BI, Data analytics, and data visualisation - with hands-on projects built for real business environments.

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Reviews

4.7

1,523 ratings on Udemy

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By Ramón Magaña Farias on 10/12/2025

Es un curso bueno de caracter introductorio, creo que hace falta más ejercicios resueltos y aplicados donde nos guie paso a paso también para la valuación de los MBS en sus diferentes variantes

By Thangaraj Ganesan on 4/3/2025

It play an important role this course helped us to understand about an introduction and importance of Mortgages ,broadest types of MBS, Features & advantages ,type and ad-hoc advanced concepts of Backed securities , Loans , Pass the securities , analysis , Collateralized mortgage obligations, remarks etc. .

By Anonymized User on 4/10/2023

I learned far more from this course in 4+ hours, than I did from my manager in 2.5 years. And mortgage-backed securities are the core of our business, as one of the GSEs.

By Milciades Andrion on 6/15/2020

The agenda of this course is very explanatory, and the instructor is very knowledgeable of the topic and includes many examples. He makes the class enjoyable to presents a very complete course. I recommend the course and the instructor.

By Anonymized User on 4/25/2020

Its an awesome experience. I enjoy your way of explaining the concepts. I am looking forward to learning additional stuff you are planning to bring. Thank you so much.

By Anonymized User on 2/27/2020

The lecturer has clearly taught this subject for many years! He is very succinct and gives great examples to explain the content very clearly in minimal time. The class focuses a lot on the back-end of MBSs (cash flow to investors) rather than front end loan pooling/cohorting/aggregating to create MBSs. Still an excellent course for the short amount of time it takes to watch the videos.

By Diana Jackson on 1/30/2020

I work in the real estate industry and decided to take this course as a refresher. I have only reviewed a couple of the chapters and must say, I encourage anyone that is new to the mortgage industry (residential and /or commercial) and want to get a great understanding of the process of how mortgages are securitized and how investors are included in the process to start watching the videos/take the course. So far, EXCELLENT presentation...very detailed.

By Anonymized User on 7/23/2019

I'm really enjoying this course. I had an issue with audio on one lecture, and the author replied promptly and helped me resolve the problem. I have edited my review from 4 stars to 5 stars. The Starweaver Group has EXCELLENT material!

By Armaan Turkhud on 3/19/2017

Great material and coverage. Can be a bit slow at times and wish it was a bit more engaging - suggest inclusion of downloadable excel exercises for more hands on practice and ability to play around with the numbers. Overall, very useful and digestible course, even if it can get dry at points.

By Venkat Ramana Rao Tanniru on 2/26/2016

Lucid language has been used to explain basics but with a bit monotonous tone. In later slides course becomes very intriguing at the same time easy to understand as instructor uses good examples. Must watch for people who are into MBS business.

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Overall Score : 94 / 100