Houses for sale in Ottawa

Today we’re talking to the Treasury Guy. As the Senior Vice President and Managing Director of Capital Markets for First National, Jason Ellis is responsible for not only interest rate risk management, but the funding and securitization of commercial and residential mortgage originations.

In this episode, Jason walks us through his over 16 years of experience with First National Financial. We gain insight into the differences between CDOR (Canadian Dollar Offered Rate) and BAs (Bank Acceptances) and how they apply to mortgages. The common confusion with BAs and CDOR and the difference in points between the two.

Topics covered include:

  • The relationship between the Canada Mortgage Mond and Government of Canada Bond.
  • Importance of understanding the credit spread.
  • Controversy surrounding LIBOR.
  • Why it may be beneficial to utilize a swap rate.
  • Understanding the benefits of the Canada Mortgage bonds.
  • Semi-annual bullet bonds.
  • The vagueness between CDOR and BAs.

Jason Ellis is the Senior Vice President and Managing Director, Capital Markets for First National and is responsible for interest rate risk management, funding, and securitization for all commercial and residential mortgage origination.  Prior to joining First National in 2004, Mr. Ellis was with the Asset/Liability Management group at Manulife Financial and with RBC Dominion Securities in Toronto and New York where he traded fixed income and interest rate derivatives.  Mr. Ellis holds a BA degree from the University of Western Ontario, an MBA degree from McMaster University and is a CFA charter holder.

 

Links:

CMBS episode

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Jason Ellis on LinkedIn

First National Financial



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