[Verse 1] Picture bonds and loans in stacks, thousands piled like playing cards Slice them into colored decks, each one bears a different scar Senior tranches get paid first, safest spot upon the throne Mezzanine sits in between, subordinated stands alone [Chorus] Tranches layered like a cake, risk ascending floor by floor SOCS will guard your investment fate - Subordination at the core Overcollateral excess, Surety bonds secure the door Credit enhancement strategies, what securitization's for [Verse 2] When the mortgage payments flow, waterfall cascades on down AAA gets every drop before the lower-rated crown If defaults begin to bite, junior tranches take the hit While the senior sleeps soundly, unaffected by the split [Chorus] Tranches layered like a cake, risk ascending floor by floor SOCS will guard your investment fate - Subordination at the core Overcollateral excess, Surety bonds secure the door Credit enhancement strategies, what securitization's for [Bridge] Excess spread's the buffer zone, when income tops the cost Overcollateralization means more backing can't be lost Third-party guarantees wrap around like armor plate SOCS protections interlace to mitigate default fate [Verse 3] Equity tranche bears the sword, first to bleed when troubles start Mezzanine follows behind, then the investment-grade part Each layer shields the one above, cascade of calculated care Risk gets concentrated downward, reward flows to those who dare [Chorus] Tranches layered like a cake, risk ascending floor by floor SOCS will guard your investment fate - Subordination at the core Overcollateral excess, Surety bonds secure the door Credit enhancement strategies, what securitization's for [Outro] Asset pools get sliced precise, engineered for every taste Senior safety, junior spice, not a single drop gets waste
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