ࡱ> q` WBbjbjqPqP 4l::1:%,,,8-dd-<P-6 7"888888PPPPPPP$QhS48P:88::8P88MP!=!=!=:88P!=:P!=!=RML2O8- mT,q<XNPcP0PN!T<!T(2O2Op!TOp88h!=8TR9G8888P8P<X888P::::dDD FINC 354 Real Estate Finance and Investments Reading Material and Useful Links To reach a link pres Ctrl and click on the link A  HYPERLINK "http://www.philadelphiafed.org/files/br/br_q3-2006-3_residential_mortgage.pdf" paper by Ronel Elul of Philadelphia FED on residential mortgage default Joshua Gallin's  HYPERLINK "http://www.federalreserve.gov/pubs/feds/2004/200450/200450pap.pdf" paper on house prices and rents  HYPERLINK "http://www.foreclosure.com/" Foreclosures  HYPERLINK "http://www.bankrate.com" Mortgage rates Yield Curve and Recession  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/mishkin_yield_curve_recession_frbny_96.pdf" 1 - Mishkin &  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/haubrich_yield_curve_recession_frbcl_06.pdf" 2 - Haubrich  HYPERLINK "http://www.usatoday.com/money/perfi/housing/2003-07-10-mym-mortgages_x.htm" New mortgage flavors from USA Today  HYPERLINK "http://minneapolisfed.org/pubs/cd/04-1/seniors.cfm" Reverse Borrowing - Minneapolis FED Community Dividend  HYPERLINK "http://www.financialfreedom.com/" Financial Freedom - RAM Specialist  HYPERLINK "http://www.smartmoney.com/home/?nav=DropTabs" SmartMoney Real Estate  HYPERLINK "http://www.nareit.com" NAREIT  HYPERLINK "http://www.nnn1031.com/" \t "_parent" 1031 Exchanges  HYPERLINK "http://www.nahb.org/" \t "_parent" National Association of Homebuilders See Resources and Economic & Housing Data"  HYPERLINK "http://web.mit.edu/cre/research/credl/tbi.html" \t "_parent" MIT Commercial Real Estate Data Laboratory Index return over a time period may be a useful. Also see NCREIF link for cap rates  HYPERLINK "http://www.mortgagebankers.org/" Mortgage Bankers Association  HYPERLINK "http://bea.gov/" Bureau of Economic Analysis  HYPERLINK "http://www.bls.gov/" Bureau of Labor Statistics Home Page  HYPERLINK "http://www.census.gov/mcd/" Census Bureau - Manufacturing, Mining, and Construction Statistics  HYPERLINK "http://www.census.gov/" Census Bureau  HYPERLINK "http://www.commercialpropertynews.com/cpn/index.jsp" Commercial Property News  HYPERLINK "http://www.conference-board.org/" Conference Board  HYPERLINK "http://www.deadmalls.com/" Deadmalls  HYPERLINK "http://www.commerce.gov/" Department of Commerce  HYPERLINK "http://www.epra.com/body.jsp" EPRA - European Public Real Estate Association  HYPERLINK "http://www.fanniemae.com/index.jhtml" FannieMae  HYPERLINK "http://www.freddiemac.com/" Freddie Mac   HYPERLINK "http://www.ginniemae.gov/" GinnieMae  HYPERLINK "http://www.huduser.org/datasets/fmr.html" HUD - Datasets Fair Market Rents  HYPERLINK "http://www.ism.ws/" Institute for Supply Management - Home Page  HYPERLINK "http://www.investinreits.com/" Invest in REITs  HYPERLINK "http://www.ares.or.jp/en/activities.html" J - REITs  HYPERLINK "http://www.leasingprofessional.com/index.htm" Lease Agreements Lease Forms  HYPERLINK "http://www.loopnet.com/" Loopnet  HYPERLINK "http://web.mit.edu/cre/research/thesis/theses04.html" MIT CRE Thesis Research  HYPERLINK "http://web.mit.edu/cre/" MIT CRE  HYPERLINK "https://cmmtortowheatonresearch.com/cmm/resources/web/page/Security/login.aspx" Moody's Commercial Mortgage Metrics  HYPERLINK "http://www.mortgagebankers.org/" Mortgage Bankers Association  HYPERLINK "http://www.nahb.org/" National Association of Home Builders  HYPERLINK "http://www.realtor.org/" National Association of REALTORS  HYPERLINK "http://www.ncreif.com/" NCREIF  HYPERLINK "http://www.nyu.edu/reit.center/" NYU REIT Center  HYPERLINK "http://www.ofheo.gov/" Office of Federal Housing Enterprise Oversight  HYPERLINK "http://prea.org/index.cfm" Pension Real Estate Association  HYPERLINK "http://www.rcanalytics.com/" Real Capital Analytics  HYPERLINK "http://www.reiclub.com/" Real Estate Investment  HYPERLINK "http://www.realestatejournal.com/" Real Estate Journal WS  HYPERLINK "http://www.reri.org/" Real Estate Research Institute  HYPERLINK "http://www.realpac.ca/splash.asp" REALpac - Real Property Association of Canada   HYPERLINK "http://multifamily.realtyexchangeweb.com/" Realty Exchange  HYPERLINK "http://cref.mccombs.utexas.edu/" REFIC  HYPERLINK "http://www.reitcafe.com/call_dates_REITcalls.html" REIT Cafe Calls  HYPERLINK "http://www.reitcafe.com/episodes_REITtalk.html" REIT Cafe Episodes  HYPERLINK "http://www.reitcafe.com/detail_REITtalk.html" REIT Cafe Epsiodes Details  HYPERLINK "http://www.reitcafe.com/upcoming_REITtalk.html" REIT Cafe Upcoming  HYPERLINK "http://www.reitcafe.com/REITcafe.html" REIT Cafe  HYPERLINK "http://www.reitmonitor.net/reit_RSS" REIT Growth and Income Monitor  HYPERLINK "http://www.econ.yale.edu/~shiller/" Robert J. Shiller Data  HYPERLINK "http://www2.standardandpoors.com/portal/site/sp/en/us/page.family/indices_ai/2,3,4,0,0,0,0,0,0,0,0,0,0,0,0,0.html" S&P Indices  HYPERLINK "http://secondarymortgages.info/index.html" Secondary Mortgage  HYPERLINK "http://www.sedar.com/homepage_en.htm" SEDAR  HYPERLINK "http://www.stlmultifamily.com/" St. Louis Multifamily  HYPERLINK "http://www.tdi.state.tx.us/consumer/cb021.html" Texas Commercial Property Insurance  HYPERLINK "http://www.twr.com/default.aspx?_title=DebtRiskManagement" Torto Wheaton Research  HYPERLINK "http://www.ustreas.gov/offices/domestic-finance/debt-management/interest-rate/yield.html" Treasury Yield Curve  HYPERLINK "http://www.cbsnews.com/stories/2006/06/20/business/printable1734650.shtml" ARMs and foreclosures Information for housing purchase: 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  HYPERLINK "http://www.pueblo.gsa.gov/crh/respref.htm" Consumer Resources Handbook (which is downloadable) has an excellent section on smart buying, giving tips on getting the most for your money 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  HYPERLINK "http://www.homestore.com/HomeFinance/Calculators/mortgagequalifier.asp?type=to" home affordability calculator on the  HYPERLINK "http://www.homefair.com/" Homebuyer's Fair web site. 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  HYPERLINK "http://homeadvisor.msn.com/homes/homebuyingroadmap.asp" Home Buying Roadmap. You can also find  HYPERLINK "http://www.hsh.com/" Current Mortgage Rates available online from HSH Associates and at the  HYPERLINK "http://www.bankrate.com/" Bank Rate Monitor. If you're interested in an adjustable rate mortgage, but don't quite understand them, try the  HYPERLINK "http://www.interest.com/armloancenter/index.html" 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  HYPERLINK "http://www.pueblo.gsa.gov/housing.htm" Housing Sales & Financing. One of the best sources for mortgage calculators is  HYPERLINK "http://www.kiplinger.com/calc/calchome.html" 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  HYPERLINK "http://www.interest.com/hugh/calc/simple.cgi" mortgage calculator can be found on Hugh Chou's web site. 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  HYPERLINK "http://www.pueblo.gsa.gov/housing.htm" Home Maintenance. Local Links: House Search:  HYPERLINK "http://www.cityoffargo.com/assessors/assessments/" Assessment Fargo  HYPERLINK "http://www.cityofmoorhead.com/property_info/index.html" Assessment Moorhead  HYPERLINK "http://www.businesssoftwareinc.net/wf/wfinq/search.aspx" Assessment West Fargo  HYPERLINK "http://www.ci.fargo.nd.us/sitemap.htm" City of Fargo  HYPERLINK "http://www.cityofmoorhead.com/" City of Moorhead  HYPERLINK "http://www.westfargo.org/" City of West Fargo  HYPERLINK "http://www.fmrealestate.com/mlssearch.html" FM Real Estate  HYPERLINK "http://www.homeshq.net/" Homes HQ  HYPERLINK "http://www.homes.com/" Homes.com  HYPERLINK "http://www.realtor.com/" Realtors Mortgage:  HYPERLINK "http://www.alerusfinancial.com/alerus.nsf/w/index.html" Alerus Financial  HYPERLINK "http://www.bankrate.com/brm/default.asp?link=2" Bankrate.com  HYPERLINK "http://www.everbank.com/main.asp?affid=eb" Everbank  HYPERLINK "http://www.executivemortgages.com/index.html" Executive Mortgage Corporation  HYPERLINK "http://www.myfico.com/" FICO Score Reports  HYPERLINK "http://www.mtgcapital.com/" Mortgage Capital Associates  HYPERLINK "http://www.priceline.com/NewFinance/Default.asp?finreferralid=BANKRATE1" Priceline.com  HYPERLINK "http://www.statebanks.com/personal/home_loans/main.cfm" State Bank of Fargo  HYPERLINK "http://www.usbank.com/cgi_w/cfm/personal/products_and_services/home_mortgage.cfm" U.S. Bank Links for determining house values:  HYPERLINK "http://www.zillow.com/" Zillow  HYPERLINK "http://www.domania.com/" Domania  HYPERLINK "http://www.homegain.com/" HomeGain  HYPERLINK "http://www.zipreality.com/" ZipRealty  HYPERLINK "http://www.realestate.com/" Real Estate  HYPERLINK "http://www.realtor.com/" Realtor  HYPERLINK "http://www.homevalues.com/" HomeValues Qualifying for a Loan: Conventional Conforming:  HYPERLINK "http://www.fanniemae.com/index.jhtml" Fannie Mae - (FNMA - Federal National Mortgage Association)  HYPERLINK "http://www.freddiemac.com/" Freddie Mac - (FHLMC - Federal Home Loan Mortgage Corporation)  HYPERLINK "http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=HSGH&s1=%284155.1%29%5Bno%5D&op1=AND&l=100&SECT1=TXT_HITS&SECT5=HEHB&u=./hudclips.cgi&p=1&r=3&f=S" HUD/FHA - US Department of Housing and Urban Development  HYPERLINK "http://www.vba.va.gov/ro/south/spete/RLC/training/05-t_guide.htm" VA Loan Approval Guide  HYPERLINK "http://www.privatemi.com/" PMI Companies of America - consumer education  HYPERLINK "http://www.mgic.com/" Mortgage Guaranty Insurance Corporation - MGIC  HYPERLINK "http://www.gehomebuyerresources.com/consumer/enus/consumer/default.asp" Genworth Financial  HYPERLINK "http://www.frbsf.org/publications/consumer/pmi.html" SF FED PMI Information Loan Forms:  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/Loan_application.pdf" Loan Application  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/Good_Faith_Estimate.pdf" Good Faith Estimate Settlement Statement  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/HUD_Settlement_P1.pdf" Page 1 &  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/HUD_Settlement_P2.pdf" Page 2  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/Truth_In_Lending_Disclosure.pdf" Truth In Lending Disclosure  HYPERLINK "http://www.treasury.gov/auctions/irs/" IRS Property Auctions Mortgage Backed Securities (MBS) Information:  HYPERLINK "http://www.securitization.net/" Securitization:   HYPERLINK "http://www.investinginbonds.com/marketataglance.asp?catid=35%20" MBS Prices  HYPERLINK "http://www.bondmarkets.com/mbsabs/" Bond Market Association - MBS Prices - Lower right side  HYPERLINK "http://www.bondweb.com/" Bondweb - Subscription required  HYPERLINK "http://www.bondmarkets.com/mbsabs/"  HYPERLINK "http://www.tradeweb.com/default.aspx" Tradeweb - Subscription required  HYPERLINK "http://www.mbsquoteline.com/" MBS Quoteline Subscription required MBS - Prospectuses:  HYPERLINK "http://fapt.efanniemae.com/eprosupp2/Content.jsp" FNMA Factors & Pool Information  HYPERLINK "http://www.fanniemae.com/mbs/index.jhtml?p=Mortgage-Backed%2bSecurities" FNMA MBS  HYPERLINK "http://fapt.efanniemae.com/epooltalk/security.do%2520"  HYPERLINK "http://www.freddiemac.com/mbs/html/sd_pc_lookup.html" Freddie Mac MBS Lookup  HYPERLINK "http://www.ginniemae.gov/guide/guidtoc.asp?Section=Resources" GNMA MBS Guide MBS Prepayment Models:  HYPERLINK "http://www.ad-co.com/" Andrew Davidson  HYPERLINK "http://www.aftgo.com/" Espiel Model  HYPERLINK "http://www.kalotay.com/analytics/" Katolay Pricing Model  HYPERLINK "http://www.loanperformance.com/" LoanPerformance  HYPERLINK "http://www.ots.treas.gov/da.cfm;JSESSIONID=8030872951157667193671?catNumber=85&an=3&CFID=12513275&CFTOKEN=52278314" The OTS Net Portfolio Value Model Manual Housing Futures:  HYPERLINK "http://www.cme.com/" Chicago Mercantile Exchange  HYPERLINK "http://www.cme.com/trading/prd/resources_opt_HNG18558.html" CME Housing Futures Resources  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/CmeCsiHousingIntroWhitePaper.pdf" CME Housing Futures White Paper  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/CmeCsiHousing.pdf" CME Housing Futures Presentation  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/CME_Repeat_Sale_Index_Methodology.pdf" Case-Shiller Repeat Sale Regression (RSR) Index Methodology  HYPERLINK "http://web.mnstate.edu/sahin/FINC_354_REF/gated_communities_raf_3_02.pdf" An application of RSR  HYPERLINK "http://www.loopnet.com/" 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.  HYPERLINK "http://multifamily.realtyexchangeweb.com/" Realty Exchange See properties on the left. Some property listings provide detailed information.  HYPERLINK "http://multifamily.realtyexchangeweb.com/" Stlmultifamily Some listings provide details.  HYPERLINK "http://www.trammellcrow.com/default.aspx?tabid=127&LocationId=63" Krombach Partners See For Lease non residential Inflation:  HYPERLINK "http://www.clevelandfed.org/research/inflation/US-inflation/Index.cfm" Federal Reserve Bank of Cleveland - Click "TIPS Expected Inflation" on the left. Discount Rate:  HYPERLINK "http://web.mit.edu/cre/research/credl/tbi.html" MIT Commercial Real Estate Data Laboratory Index return over a time period may be a useful. Also see NCREIF link for cap rates.     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