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FIN 4800
REAL ESTATE FINANCE
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Real estate finance is a field of study that requires an
understanding of many important subjects: Property
law, mortgage underwriting practices, mortgage insurance
programs, financial analysis, valuation principles,
federal income tax laws, investment analysis, financial
institutions, real estate development, and capital markets.
Finance 4800 is designed to provide the student a
foundation in each of these areas.
Finance 4800 is designed as an advanced course in real
estate, as such; topics in real estate finance (introduced
in Finance 4610) are examined in more detail. In this class,
real estate finance topics will be covered both from the
perspective of borrowers and lenders.
Course Objectives
The student will gain an understanding of the
mechanics of a mortgage, as well as, an understanding
of the legal environment. Analysis of the borrower and
the property will also be considered. In addition, the
nature of institutions and the instruments that have
developed will be studied; however, the approach
will be analytical and quantitative whenever possible.
In this course, students should develop an understanding
of the topics listed.
Back to course descriptions
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Topic 1: Introduction
- Overview of Real Estate Finance
- Legal Considerations in Real Estate
- The Interest Factor in Financing
Topic 2: Financing Residential Properties
- Fixed Rate Mortgage Loans
- Adjustable Rate and Variable Payment Mortgages
- Underwriting and Financing Residential Properties
- Residential Financial Analysis
Topic 3: Financing Proposed Projects
- Financing Construction Projects
- Financing Land Development Projects
Topic 4: Financing Income Properties
- Introduction to Commercial Property Markets
- Valuation of Income Properties
- Investment and Risk Analysis
- Financial Leverage and Debt
- Partnerships, Joint Ventures, and Syndications
- Disposition and Renovation of Income Properties
- Financing Corporate Real Estate
Topic 5: Real Estate Capital Markets and Securities
- The Secondary Mortgage Market: Pass-Through Securities
- The Secondary Mortgage Market: CMOs and Derivative Securities
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