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FINC 354 Real Estate Finance and Investments

Reading Material and Useful Links

To reach a link pres “Ctrl” and click on the link

1. A paper by Ronel Elul of Philadelphia FED on residential mortgage default

2. Joshua Gallin's paper on house prices and rents

3. Foreclosures

4. Mortgage rates

5. Yield Curve and Recession 1 - Mishkin & 2 - Haubrich

6. New mortgage flavors from USA Today

7. Reverse Borrowing - Minneapolis FED Community Dividend

8. Financial Freedom - RAM Specialist

9. SmartMoney Real Estate

10. NAREIT

11. 1031 Exchanges

12. National Association of Homebuilders – See “Resources” and “Economic & Housing Data"

13. MIT Commercial Real Estate Data Laboratory – Index return over a time period may be a useful. Also see NCREIF link for cap rates

14. Mortgage Bankers Association

15. Bureau of Economic Analysis

16. Bureau of Labor Statistics Home Page

17. Census Bureau - Manufacturing, Mining, and Construction Statistics

18. Census Bureau

19. Commercial Property News

20. Conference Board

21. Deadmalls

22. Department of Commerce

23. EPRA - European Public Real Estate Association

24. FannieMae

25. Freddie Mac

26. GinnieMae

27. HUD - Datasets Fair Market Rents

28. Institute for Supply Management - Home Page

29. Invest in REITs

30. J - REITs

31. Lease Agreements Lease Forms

32. Loopnet

33. MIT CRE Thesis Research

34. MIT CRE

35. Moody's Commercial Mortgage Metrics

36. Mortgage Bankers Association

37. National Association of Home Builders

38. National Association of REALTORS

39. NCREIF

40. NYU REIT Center

41. Office of Federal Housing Enterprise Oversight

42. Pension Real Estate Association

43. Real Capital Analytics

44. Real Estate Investment

45. Real Estate Journal WS

46. Real Estate Research Institute

47. REALpac - Real Property Association of Canada

48. Realty Exchange

49. REFIC

50. REIT Cafe Calls

51. REIT Cafe Episodes

52. REIT Cafe Epsiodes Details

53. REIT Cafe Upcoming

54. REIT Cafe

55. REIT Growth and Income Monitor

56. Robert J. Shiller Data

57. S&P Indices

58. Secondary Mortgage

59. SEDAR

60. St. Louis Multifamily

61. Texas Commercial Property Insurance

62. Torto Wheaton Research

63. Treasury Yield Curve

64. ARMs and foreclosures

65. Information for housing purchase:

a. Smart Buying. Smart buying is a controlled process in which your final selection isn't only the best product for the best price, but a product that you need and a purchase that fits in with your monthly budget. The Consumer Resources Handbook (which is downloadable) has an excellent section on smart buying, giving tips on getting the most for your money

b. Home Purchase.  The first step in home buying is to decide what you're looking for. That includes both what fits your needs and what you can afford. To help you there is a home affordability calculator on the Homebuyer's Fair web site.

c. Making the Home Purchase. Once you've decided which house or apartment you'd like to live in, the next step becomes making the purchase, or in the case of renting an apartment, signing the lease. The Microsoft Money Insider provides a “Home Buying Roadmap.” You can also find Current Mortgage Rates available online from HSH Associates and at the Bank Rate Monitor. If you're interested in an adjustable rate mortgage, but don't quite understand them, try the Mortgage Market Information site “What Is an Adjustable Rate Mortgage?” In addition to these sources, the Consumer Information Center has a whole section of electronic pamphlets on Housing – Sales & Financing.  One of the best sources for mortgage calculators is Kiplinger Online, which has 16 different “home calculators.” It has calculators that answer questions like “How much can I borrow?” “How big will my payments be?” “Which is better: fixed or adjustable?” and “Which is better: 15 or 30 year term?” Another great mortgage calculator can be found on Hugh Chou's web site.

d. Post-purchase Activities. The post-purchase activities include upkeep and maintenance along with refinancing decisions. To learn more about upkeep and maintenance, go to the Consumer Information Center web site, which has a whole section of electronic pamphlets on Home Maintenance.

66. Local Links:

a. House Search:

i. Assessment Fargo

ii. Assessment Moorhead

iii. Assessment West Fargo

iv. City of Fargo

v. City of Moorhead

vi. City of West Fargo

vii. FM Real Estate

viii. Homes HQ

ix.

x. Realtors

b. Mortgage:

i. Alerus Financial

ii.

iii. Everbank

iv. Executive Mortgage Corporation

v. FICO Score Reports

vi. Mortgage Capital Associates

vii.

viii. State Bank of Fargo

ix. U.S. Bank

67. Links for determining house values:

a. Zillow

b. Domania

c. HomeGain

d. ZipRealty

e. Real Estate

f. Realtor

g. HomeValues

68. Qualifying for a Loan:

a. Conventional Conforming:

i. Fannie Mae - (FNMA - Federal National Mortgage Association)

ii. Freddie Mac - (FHLMC - Federal Home Loan Mortgage Corporation)

iii. HUD/FHA - US Department of Housing and Urban Development

b. VA Loan Approval Guide

c. PMI Companies of America - consumer education

d. Mortgage Guaranty Insurance Corporation - MGIC

e. Genworth Financial

f. SF FED PMI Information

69. Loan Forms:

a. Loan Application

b. Good Faith Estimate

c. Settlement Statement Page 1 & Page 2

d. Truth In Lending Disclosure

70. IRS Property Auctions

71. Mortgage Backed Securities (MBS) Information:

a. Securitization:

i. MBS Prices

ii. Bond Market Association - MBS Prices - Lower right side

iii. Bondweb - Subscription required

iv. Tradeweb - Subscription required

v. MBS Quoteline – Subscription required

b. MBS - Prospectuses:

i. FNMA Factors & Pool Information

ii. FNMA MBS

iii. Freddie Mac MBS Lookup

iv. GNMA MBS Guide

c. MBS Prepayment Models:

i. Andrew Davidson

ii. Espiel Model

iii. Katolay Pricing Model

iv. LoanPerformance

v. The OTS Net Portfolio Value Model Manual

72. Housing Futures:

a. Chicago Mercantile Exchange

b. CME Housing Futures Resources

c. CME Housing Futures White Paper

d. CME Housing Futures Presentation

e. Case-Shiller Repeat Sale Regression (RSR) Index Methodology

f. An application of RSR

73. LoopNet – Requires membership (free). In some cases, most information you need about a property can be found here. Pop-up for paid membership can become annoying.

74. Realty Exchange – See properties on the left. Some property listings provide detailed information.

75. Stlmultifamily – Some listings provide details.

76. Krombach Partners – See “For Lease” – non residential

77. Inflation:

a. Federal Reserve Bank of Cleveland - Click "TIPS Expected Inflation" on the left.

78. Discount Rate:

79. MIT Commercial Real Estate Data Laboratory – Index return over a time period may be a useful. Also see NCREIF link for cap rates.

80.

81.

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