IntroductiontoMortgages&MortgageBackedSecuritiesRichardK.GreenLuskChairinRealEstate,UniversityofSouthernCalifornia,LosAngeles,CA,USATableofContentsTitlepageCopyrightContributorsandAcknowledgmentsChapter1.ABriefHistoryofMortgagesAbstractTheGreatDepression,theNewDeal,andtheTransformationoftheAmericanMortgageMarketThePostWorldWarIIEraReferencesChapter2.MortgageOriginationsandtheMortgageChainAbstractLoanOriginationFundingTheSecuritizationProcessInvestorsServicingASummary:TheMortgageChainReferencesChapter3.TheWork-HorseAmericanMortgage:The30-YearFixed-RateMortgageAbstractThePopularityofthe30-YearFixed-RateMortgageReferenceChapter4.OtherTypesofMortgagesAbstractInterest-OnlyMortgagesPayOptionARMS,PLAMS,andOtherNegativeAmortizationMortgagesExoticMortgagesSecondLienMortgagesReferencesChapter5.UnderwritingMortgagesandMortgageDefaultAbstractIntroductionUnderwritingCriteriaAutomatedValuationMethodsPuttingitTogetherReferencesChapter6.Mortgage-BackedSecuritiesandDerivativesAbstractTypesofTranchesChapter7.MultifamilyMortgagesAbstractProperty-BasedUnderwritingStandardsUnderwritingtheBorrowerCommercialLoanCovenantsSourcesofMultifamilyFinanceThe5–50ProblemSection42LowIncomeHousingTaxCreditProgramModelingtheCostofDefaultforaMultifamilyPropertyReferencesChapter8.InternationalComparisonsofMortgagesAbstractTaxTreatmentofMortgagesSourcesofFundingDifferencesinGovernmentInterventioninMortgagesHowConsumer-FriendlyIstheUSMortgage?SizeofMortgageMarketsMortgagesandMacro-PrudentialSupervisionReferencesChapter9.TheSubprimeCrisisAbstractThoseWhoSawitComingThoseWhoSaidHousePricesWouldRiseForeverExPostViewsonCausesoftheFinancialCrisisSecuritizationRatingAgenciesModelsSupplyChainReferencesChapter10.ConsumersinMortgageMarketsAbstractEconomicModelsofMortgageLoanChoicePrepaymentandDefaultDecisionsConsumerKnowledgeandMortgageDecisionsBehavioralDecision-MakingPerspectivesandMortgageBorrowersExternalInfluencesonMortgageDecisionsTheHomePurchaseDecisionConsumerProtectioninMortgageMarketsConclusion:What’...
