Introduction to Mortgages and Mortgage Backed Securities
Author(s): Richard K. Green (Author)
Publisher: Academic Press Inc
Publication Date: 20 Dec. 2013
Language: English
Print length: 256 pages
ISBN-10: 0124017436
ISBN-13: 9780124017436
Book Description
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. It is written for buyers of real estate, not mortgage lenders. It balances theory with increasingly complex practices of commercial and residential mortgage lending. It emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making.
Editorial Reviews
Review
“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
Review
This textbook combines insights into mortgages and real estate capital markets with financial theory so real estate buyers can make intelligent business decisions.
From the Back Cover
Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. Starting with a behavioral chapter focusing 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 both commercial and residential real estate, his book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. His expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments.
About the Author
Richard Green is Director of the Lusk Center for Real Estate at the University of Southern California. Prior to joining the USC faculty, he was Oliver T. Carr Jr. Chair of Real Estate Finance at The George Washington University School of Business. He was previously Wangard Faculty Scholar and Chair of Real Estate and Urban Land Economics at the University of Wisconsin, Madison.
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