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Real Estate Finance

by: Wiedemer,John P.

Real Estate Finance

by: Wiedemer,John P.

ISBN 13:
9780324142907
ISBN 10:
0324142900
Edition: 8th
Format: Paperback
Copyright: 02/01/2000
Publisher: Cengage Learning
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Summary

Featuring an easy-to-read narrative format and contemporary focus, this text provides cutting-edge coverage of specialized mortgage lending procedures--including sources of mortgage money, constraints on those sources, loan qualifications, and laws and regulations that guide practices.

Preface

Acknowledgments

History and Background

(8)

Key Words and Phrases

(1)

Introduction

(1)

Landownership

(1)

Background of Financing

(1)

Financing Real Property Loans

(1)

The Mortgage Loan Market

(4)

A Look at the Future

(1)

Questions for Discussion

(2)

Money and Interest Rates

(12)

Key Words and Phrases

(1)

Introduction

(1)

Federal Reserve Bank System

(5)

The United States Treasury

(1)

Interest Rates

(4)

Usury

(1)

Questions for Discussion

(1)

Mortgage Money: Regulated Lenders

(17)

Key Words and Phrases

(1)

Introduction

(1)

The Mortgage Credit Market

(1)

The Mortgage Money Market

(1)

The Primary Market

(7)

Reserve Requirements for Depository Institutions

(1)

Deposit Insurance

(1)

Community Reinvestment Act (CRA)

(2)

Life Insurance Companies

(1)

Additional Federal Regulation of Home Mortgage Lending

(1)

Questions for Discussion

(1)

Other Primary Market Lenders

(16)

Key Words and Phrases

(1)

Introduction

(1)

Mortgage Companies

(8)

Automated Loan Underwriting

(1)

Government Loan Programs

(3)

Other Primary Market Lenders

(2)

Miscellaneous Other Sources

(1)

Questions for Discussion

(1)

Mortgage Money: The Secondary Market

(21)

Key Words and Phrases

(1)

Introduction

(1)

Expansion of the Secondary Market

(1)

Selling Mortgage Loans

(3)

Points

(1)

Loan Purchasers

(4)

Federal Underwriting of Mortgage Pools

(5)

Loan Pools

(1)

Tax-Exempt Bonds

(1)

Mortgage-Backed Securities (MBS)

(3)

Real Estate Mortgage Investment Conduits (REMIC)

(1)

Mortgage Partnership Finance Program (MPF)

(1)

Questions for Discussion

(1)

The Mortgage Documents

(23)

Key Words and Phrases

(1)

Introduction

(1)

History and Development

(2)

State Laws Control Property Rights

(1)

Conforming Loans

(8)

Mortgage Variations

(7)

Mortgage Procedures

(2)

Standardizing Loan Documentation

(1)

Questions for Discussion

(2)

Mortgage Repayment Plans

(19)

Key Words and Phrases

(1)

Introduction

(1)

Fixed-Interest, Constant-Level Plan

(1)

Adjustable Rate Mortgage (ARM)

(6)

Graduated Payment Mortgage (GPM)

105

(2)

Pledged-Account Mortgage

107

(1)

Buy-Down Mortgage

107

(2)

Balloon Payment Note

109

(1)

Straight Note

110

(1)

Shorter Term Loans

110

(2)

Home Equity Revolving Loans

112

(1)

Other Alternative Plans

113

(1)

Reverse Annuity Mortgage (RAM)

114

(2)

Questions for Discussion

116

(1)

Federal Government Underwriting Programs

117

(33)

Key Words and Phrases

117

(1)

Introduction

117

(1)

Federal Housing Administration (HUD/FHA)

118

(4)

Assumption of an FHA Loan

122

(2)

Investor Mortgage Eliminated

124

(1)

Loan Default and Foreclosure

124

(2)

Interest Rate

126

(1)

Limitations on Loan Amounts

126

(2)

Secondary Financing with HUD/FHA-Insured Commitments

128

(1)

HUD/FHA Program Details

128

(6)

HUD/FHA Qualification Procedures

134

(1)

Analyzing the Loan Application

135

(3)

Department of Veterans Affairs (VA)

138

(11)

Questions for Discussion

149

(1)

Borrower Qualification

150

(29)

Key Words and Phrases

150

(1)

Introduction

150

(1)

Equal Credit Opportunity Act

151

(1)

The Loan Application

152

(1)

Financial Evaluation of the Borrower

153

(8)

Qualifying the Applicant

161

(11)

Commercial Loans

172

(2)

Private Mortgage Insurance

174

(4)

Questions for Discussion

178

(1)

Property Analysis

179

(25)

Key Words and Phrases

179

(1)

Introduction

179

(1)

Property Appraisal

180

(4)

Types of Appraisals

184

(3)

Three Approaches to Property Value

187

(5)

Property Characteristics

192

(4)

Condominiums

196

(2)

Cooperative Apartments

198

(1)

Manufactured Housing/Mobile Homes

199

(1)

Surveys

199

(1)

Legal Descriptions

200

(2)

Questions for Discussion

202

(2)

Commercial Loans: Construction and Land Loans

204

(15)

Key Words and Phrases

204

(1)

Introduction

204

(1)

Information Sources

205

(1)

The Loan Application

205

(4)

Preparation of Financial Statements

209

(1)

Property Evaluation

210

(1)

Land Purchase Loans

211

(1)

Land Development Loans

212

(1)

Construction Loans

213

(5)

Questions for Discussion

218

(1)

Commercial Building and Farm Loans

219

(17)

Key Words and Phrases

219

(1)

Introduction

219

(1)

Special-Purpose Buildings

220

(1)

Apartment Buildings

221

(3)

Retail Store Buildings

224

(1)

Shopping Centers

225

(4)

Office Buildings

229

(2)

Warehouse Buildings

231

(2)

Farm and Ranch Loans

233

(1)

Questions for Discussion

234

(2)

Other Financing Practices

236

(20)

Key Words and Phrases

236

(1)

Introduction

236

(1)

Home Builder Commitments

236

(1)

Loan-to-Value Ratio (LTVR)

237

(1)

Dollar Amount of Loan

238

(2)

Land Leases

240

(2)

Sale of Equity Interests

242

(2)

SEC Regulations for Real Estate Transactions

244

(1)

Supplier Financing

244

(1)

Seller-Financed Home Mortgages

245

(1)

Refinancing

246

(2)

Title Protection

248

(3)

Foreclosure

251

(1)

Deficiency Judgments

252

(1)

Obligations Involved with Default Insurance--Indemnity

253

(1)

Questions for Discussion

254

(2)

Technology Advances in Mortgage Lending

256

(9)

Key Words and Phrases

256

(1)

Introduction

256

(1)

Computerized Loan Origination (CLO)

256

(2)

Automated Underwriting Systems

258

(2)

Credit Scoring

260

(1)

Subprime Loans

261

(1)

Mortgages on the Internet

262

(1)

Online Real Estate Service

263

(1)

Using Computerized Information in the Future

264

(1)

Questions for Discussion

264

(1)

Environmental Issues

265

(22)

Key Words and Phrases

265

(1)

Introduction

265

(1)

Environmental Assessments for Home Loans

266

(1)

Environmental Assessments for Commercial Loans

266

(1)

Environmental Requirements of the Secondary Market

267

(1)

Principal Environmental Problems

267

(1)

Toxic Waste Sites

268

(6)

Indoor Air Pollution

274

(3)

Lead Poisoning

277

(2)

Wetlands Protection

279

(2)

Endangered Species Act

281

(2)

Underground Storage Tanks

283

(1)

Electromagnetic Forces

284

(1)

Conclusions

285

(1)

Questions for Discussion

286

(1)

Settlement Procedures

287

(22)

Key Words and Phrases

287

(1)

Introduction

287

(1)

Preliminary Information

288

(1)

RESPA Requirements

289

(4)

Truth-in-Lending Act

293

(2)

Settlement Practices and Costs

295

(10)

Final Closing Instructions

305

(1)

Disbursement of Funds

306

(2)

Questions for Discussion

308

(1)

Glossary

309

(10)

Appendices

319

(22)

Index

341

Amazon no longer offers textbook rentals. We do!

Real Estate Finance

Real Estate Finance

9780324142907

0324142900

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Real Estate Finance

Real Estate Finance

9780324142907

0324142900

Summary

Table of Contents

Supplemental Materials

Write a Review

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