Introduction to Mortgages & Mortgage Backed Securities book cover

Introduction to Mortgages & Mortgage Backed Securities

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. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments.

Audience

Upper-division undergraduates and graduate students studying real estate finance and capital markets.  Common course titles include "Mortgages and Mortgage-Backed Securities and Markets," "Real Estate Analysis," and "Investment Property Analysis." 

Hardbound, 256 Pages

Published: December 2013

Imprint: Academic Press

ISBN: 978-0-12-401743-6

Reviews

  • "Richard Green has done a masterful job of addressing the key elements of the mortgage market.  The book will be an ideal text for advanced undergraduate or graduate students studying real estate finance.   The book should be suitable for students from a variety of disciplines including business administration, economics, and urban planning."  --Michael Lacour-Little, California State University - Fullerton

    "Many books have been written recently about mortgages and the financial crisis.  This is the only book I've seen that takes the reader through a wide range of mortgage products from origination through securitization so clearly and concisely; then connects these designs and the policy decisions that accompanied them to the recent crisis.  The accompanying Excel models are a great help to readers who like to see how financial products work in practice with actual numbers.  A terrific choice for any university housing or finance course, and for anyone in the business who needs to really understand how these products work."  --Stephen Malpezzi, University of Wisconsin


Contents

    1. A Brief History of US mortgages
    2. Mortgage origination
    3. The workhorse US mortgage: the 30 year fixed rate pre-payable mortgage
    4. Other types of mortgages
    5. Underwriting mortgages and modeling default
    6. Mortgage Backed Securities.
    7. Multifamily lending
    8. International Comparisons
    9. The Recent Financial Crisis
    10. Consumers’ Decision Processes
    11. Yield Curve and Interest Rate Issues
    12. Duration and Convexity

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