Table of Contents

Preface

I. FINANCE AND REAL ESTATE

1. Real Estate Finance: An Overview

2. Money. Credit. and the Determination of Interest Rates

3. Finance Theory and Real Estate

II. RESIDENTIAL REAL ESTATE FINANCE

4. The Early History of Residential Finance and Creation of the Fixed Rate Mortgage

5. Postwar Residential Finance

6. Alternative Mortgage Instruments

7. Financing and Property Values

8. Federal Housing Policies: Part 1

9. Federal Housing Policies: Part 2

10. The Secondary Mortgage Market

11. Valuation of Mortgage Securities

12. Controlling Default Risk Through Borrower Qualification.  Loan Underwriting and Contractual Relationships

13. Loan Origination. Processing. and Closing

14. Mortgage Default Insurance, Foreclosure, Title Insurance

III. COMMERCIAL REAL ESTATE FINANCE

15. Value, Leverage, and Capital Structure

16. Federal Taxation and Real Estate Finance

17. Sources of Funds for Commercial Real Estate Properties

18. Acquisition. Development. and Construction Financing

19. Permanent Financing of Commercial Real Estate Properties

20. Ownership Structures for Financing and Holding Real Estate

IV. SPECIAL TOPICS IN REAL ESTATE FINANCE

21. Real Estate in a Portfolio Context

22. Liability. Agency Problems. Fraud. and Ethics in Real Estate Finance

Appendix 1: Refresher Course on the Time Value of Money and Related Concepts

Appendix 2: Acronym List

Appendix C: Software to Accompany Real Estate Finance

Glossary

Name Index

Subject Index