UID:
almahu_9948026804202882
Format:
1 online resource (xi, 235 pages) :
,
illustrations (chiefly color)
ISBN:
0-12-404593-6
Series Statement:
Gale eBooks
Content:
In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers.
Note:
Description based upon print version of record.
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Front Cover; Introduction to Mortgages & Mortgage Backed Securities; Copyright; Contents; Contributors and Acknowledgments; Chapter 1 - A Brief History of Mortgages; THE GREAT DEPRESSION, THE NEW DEAL, AND THE TRANSFORMATION OF THE AMERICAN MORTGAGE MARKET; THE POST WORLD WAR II ERA; REFERENCES; Chapter 2 - Mortgage Originations and the Mortgage Chain; LOAN ORIGINATION; FUNDING; THE SECURITIZATION PROCESS; INVESTORS; SERVICING; A SUMMARY: THE MORTGAGE CHAIN; REFERENCES; Chapter 3 - The Work-Horse American Mortgage: The 30-Year Fixed-Rate Mortgage
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THE POPULARITY OF THE 30-YEAR FIXED-RATE MORTGAGEREFERENCE; Chapter 4 - Other Types of Mortgages; INTEREST-ONLY MORTGAGES; PAY OPTION ARMS, PLAMS, AND OTHER NEGATIVE AMORTIZATION MORTGAGES; EXOTIC MORTGAGES; SECOND LIEN MORTGAGES; REFERENCES; Chapter 5 - Underwriting Mortgages and Mortgage Default; INTRODUCTION; UNDERWRITING CRITERIA; AUTOMATED VALUATION METHODS; PUTTING IT TOGETHER; REFERENCES; Chapter 6 - Mortgage-Backed Securities and Derivatives; TYPES OF TRANCHES; Chapter 7 - Multifamily Mortgages; PROPERTY-BASED UNDERWRITING STANDARDS; UNDERWRITING THE BORROWER
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COMMERCIAL LOAN COVENANTSSOURCES OF MULTIFAMILY FINANCE; THE 5-50 PROBLEM; SECTION 42 LOW INCOME HOUSING TAX CREDIT PROGRAM; MODELING THE COST OF DEFAULT FOR A MULTIFAMILY PROPERTY; REFERENCES; Chapter 8 - International Comparisons of Mortgages; TAX TREATMENT OF MORTGAGES; SOURCES OF FUNDING; DIFFERENCES IN GOVERNMENT INTERVENTION IN MORTGAGES; HOW CONSUMER-FRIENDLY IS THE US MORTGAGE?; SIZE OF MORTGAGE MARKETS; MORTGAGES AND MACRO-PRUDENTIAL SUPERVISION; REFERENCES; Chapter 9 - The Subprime Crisis; THOSE WHO SAW IT COMING; THOSE WHO SAID HOUSE PRICES WOULD RISE FOREVER
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EX POST VIEWS ON CAUSES OF THE FINANCIAL CRISISSECURITIZATION; RATING AGENCIES; MODELS; SUPPLY CHAIN; REFERENCES; Chapter 10 - Consumers in Mortgage Markets; ECONOMIC MODELS OF MORTGAGE LOAN CHOICE; PREPAYMENT AND DEFAULT DECISIONS; CONSUMER KNOWLEDGE AND MORTGAGE DECISIONS; BEHAVIORAL DECISION-MAKING PERSPECTIVES AND MORTGAGE BORROWERS; EXTERNAL INFLUENCES ON MORTGAGE DECISIONS; THE HOME PURCHASE DECISION; CONSUMER PROTECTION IN MORTGAGE MARKETS; CONCLUSION: WHAT'S THE OPTIMAL MORTGAGE FOR A BORROWER?; REFERENCES
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Chapter 11 - The Yield Curve, Monte Carlo Methods, and the Option-Adjusted SpreadMONTE CARLO METHODS; CONTROVERSY; REFERENCES; CHAPTER 12 - A BRIEF DISCUSSION OF DURATION AND CONVEXITY1; PROBLEMS CREATED BY DURATION-CONVEXITY; METHODS FOR MANAGING MORTGAGE INTEREST RATE RISK; HOW INVESTORS THINK THEY CAN MAKE MONEY USING CONVEXITY; REFERENCES; Chapter 13 - The Rise and Fall of Fannie Mae and Freddie Mac: Lessons Learned and Options for Reform; INTRODUCTION; HOW FANNIE MAE AND FREDDIE MAC SUPPORT THE MORTGAGE MARKET; A BRIEF HISTORY OF FANNIE MAE AND FREDDIE MAC; THE BENEFITS OF THE GSE MODEL
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INHERENT WEAKNESSES AND CRITICISMS OF THE GSE APPROACH
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English
Additional Edition:
ISBN 0-12-401743-6
Additional Edition:
ISBN 1-306-15686-6
Language:
English
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