List of Popular Books on Mortgage Lending for Real Estate

List of Popular Books on Mortgage Lending for Real Estate

Books in list (34)

Title: Residential Mortgage Lending

This text is designed for both employees of mortgage lenders and individuals studying real estate finance who want to enhance that study with practical residential mortgage lending principles and practices. The author provides a thorough overview of mortgage lending today and outlines the practices of mortgage businesses to compete successfully in this competitive market. The mortgage lending industry has experienced significant changes resulting in a new economy. Addressing the SAFE Act and other new mortgage regulations governing the lending industry, this edition has a new emphasis on the practical applications of mortgage lending making it an excellent resource for learning residential mortgage lending operations. Each step of the mortgage process is covered while clearly explaining the fundamentals in an easy-to-understand manner. No prior knowledge of real estate finance or any part of mortgage lending is required. Students will gain practical knowledge on residential lending business, and mortgage professionals will find this to be a valuable resource.
Author(s): Marshall W. Dennis
ISBN 13: 9780137554065
Pages: 416
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Title: The Mortgage Encyclopedia: The Authoritative Guide to Mortgage Programs, Practices, Prices, and Pitfalls

The bestselling one-stop guide to mortgages—updated for the post–housing crisis market!

The Mortgage Encyclopedia demystifies all the various mortgage terms, features, and options by offering clear, precise explanations.

Fully updated to address the new realities introduced by the housing crisis of 2007, The Mortgage Encyclopedia provides not just a complete description, but also in-depth discussion of the issues that may affect you, whether you're a homeowner (or homeowner-to-be), real estate agent, loan provider, or attorney. With this handy, comprehensive guide on hand, you have instant access to:

  • Definitions and explanations of common mortgage-related terms, as well as arcane mortgage terminology, listed alphabetically
  • Expert advice on the most pressing issues, such as whether to use a mortgage brokers, the benefits of paying points versus a larger down payment, and the hazards of cosigning a loan
  • The truth about common mortgage myths and misperceptions—and the pitfalls you need to avoid
  • Helpful tables on affordability, interest cost of fixed-rate versus adjustable rate mortgages, and much more

So the next time you ask yourself such questions as "Is this FHA loan right for me?" or "Can I negotiate this fee?" reach for this indispensable guide and get the fast, accurate information you need!

Author(s): Jack Guttentag
ISBN 13: 9780071739580
Pages: 352
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Title: Mortgages For Dummies

Need a mortgage but worried about the market? In Mortgages For Dummies, 3rd Edition, bestselling authors Eric Tyson and Ray Brown give you proven solutions for obtaining a mortgage, whether you want to buy your first home, refinance, or tap into your equity. You get the latest on sub-prime and adjustable-rate mortgages, finding the best lender, avoiding fiscal pitfalls and foreclosure, and much, much, more!

This easy-to-understand, objective, and jargon-free guide helps you fine-tune your finances, figure out what you can afford, and improve your credit score before you go mortgage shopping. You’ll get familiar with the advantages and disadvantages of fixed- and adjustable-rate mortgages, 15- and 30-year loans, and conforming and jumbo packages. You also get help finding and working with reputable professionals, comparing programs, and securing terms you can live with. Discover how to:

  • Match your mortgage to your financial goals
  • Qualify for a mortgage even when money is tight
  • Find the right loan for you
  • Choose the best lender/broker
  • Negotiate the best terms
  • Calculate your costs and payments
  • Understand and complete all paperwork
  • Refinance an existing mortgage
  • Understand and consider special situation loans
  • Explore reverse mortgages and other options
  • Decipher amortization tables and comparison worksheets
  • Use the Internet wisely when mortgage shopping

Now, more than ever, you need clear, reliable information that helps you get the mortgage you need at a price you can afford. You need Mortgages For Dummies, 3rd Edition!

Author(s): Eric Tyson
ISBN 13: 9780470379967
Pages: 312
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Title: Mortgage Lending Principles and Practices, 6th edition

This textbook offers a comprehensive introduction and review of mortgage lending principles & practices including: Federal mortgage-related laws, General information about mortgage programs and products, Mortgage loan origination activities, Ethics expected of mortgage professionals, and Content related to MLO license laws and regulations The textbook provides you an overview about the mortgage industry, but not everything will be contained within these pages. It is common for a Mortgage Loan Originator (MLO) to continue learning, even after years of experience. The principles and practices covered in the textbook are a foundation that will help prepare you to become a capable and qualified mortgage professional. It will enable you to stay current with the changes in federal laws, products, guidelines, and procedures in the mortgage industry. We encourage you to accept the challenge presented to you and become a true mortgage professional. Share your knowledge effectively with customers, deliver quality customer service to your clients, and continually demonstrate ethical behavior in your business practices.
Author(s): Hondros Learning
ISBN 13: 9781598442588
Pages: 360
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Title: Credit Risk Assessment : The New Lending System for Borrowers, Lenders, and Investors

"Clark and Mingyuan start with an insightful and comprehensive description of how market participants contributed to the current crisis in the residential mortgage markets and the root causes of the crisis. They then proceed to develop a new residential mortgage lending system that can fix our broken markets because it addresses the root causes. The most impressive attributes of their new system is its commonsense return to the basics of traditional underwriting, combined with factors based on expert judgment and statistics and forward-looking attributes, all of which can be updated as markets change. The whole process is transparent to the borrower, lender, and investor." —Dean Schultz, President and CEO, Federal Home Loan Bank of San Francisco

"The credit market crisis of 2008 has deeply affected the economic lives of every American. Yet, its underlying causes and its surface features are so complex that many observers and even policymakers barely understand them. This timely book will help guide nonspecialists through the workings of financial markets, particularly how they value, price, and distribute risk." —Professor William Greene, Stern School of Business, New York University

"This book is a well-timed departure from much of what is being written today regarding the current foreclosure and credit crisis. Rather than attempting to blame lenders, borrowers, and/or federal regulators for the mortgage meltdown and the subsequent impacts on the financial markets, Clark and Mingyuan have proposed a groundbreaking new framework to revolutionize our current lending system. The book is built on the authors' deep understanding of risk and the models used for credit analysis, and reflects their commitment to solve the problem. What I find most profound is their passion to develop a system that will facilitate new and better investment, especially in underserved urban markets that have been disproportionately impacted in the current crisis. I applaud the authors for this important work, and urge practitioners and theorists alike to investigate this new approach." —John Talmage, President and CEO, Social Compact

"In the wake of the credit crisis, it is clear that transparency is the key to not repeating history. In Credit Risk Assessment: The New Lending System for Borrowers, Lenders and Investors, Clark Abrahams and Mingyuan Zhang describe a new lending framework that seeks to connect all the players in the lending chain and provide a more holistic view of customers' risk potential. As the financial services industry recovers from the mortgage meltdown, the Abrahams/Zhang lending model certainly offers some new food for thought to laymen and professionals alike." —Maria Bruno-Britz, Senior Editor, Bank Systems & Technology magazine

Author(s): Clark R. Abrahams
ISBN 13: 9780470461686
Pages: 320
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Title: Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request Package

With real estate prices at their lowest in years and the economy poised for a rebound, it's an opportune time to invest in commercial real estate. But credit and financing issues can still pose challenges that prospective borrowers must overcome in order to get the money and mortgage terms they need. Commercial Mortgages 101 is a step-by-step guide for both real estate investors and mortgage brokers, offering insight, practical tools and a thorough overview of commercial mortgage underwriting and credit analysis. Readers will learn how to:
Author(s): Michael Reinhard
ISBN 13: 9780814415078
Pages: 214
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Title: The Complete Dictionary of Mortgage & Lending Terms Explained Simply: What Smart Investors Need to Know

Lenders and prospective homebuyers alike have turned their attention to financial news, carefully watching the market since the 2007 housing and credit crisis. In early 2010, mortgage rates continued to drop to historic lows, changing on a daily basis. With their fluctuating rates and the current economic climate, mortgages are as complicated as ever. Anyone interested in acquiring a mortgage, refinancing a current mortgage, or starting a business career in lending has probably heard financial professionals use unfamiliar terms. But, with a little help from this comprehensive dictionary, you can easily converse with professionals and understand industry jargon. The Complete Dictionary of Mortgage & Lending Terms Explained Simply explains all the important financial terms you will encounter as you navigate the mortgage market. With easy-to-understand definitions, this dictionary covers everything from accrued interest to wraparound mortgages. It covers types of mortgages, parts of loan agreements, types of insurance, and even home-inspection terms. This resource uses simple language to describe the many concepts it covers, ensuring that even those without any financial or real estate experience will understand the definitions. With more than 1,800 terms, this dictionary allows you to understand almost every term you come across during your encounter with the lending process, whether you are researching the difference between trusts and liens or examining a prospective home s features. In addition to outlining terms associated with lending, it also includes information about important legislative acts and federal agencies that affect financing. The handy A-to-Z organization allows you to quickly find any information you need, even during nerve-wracking negotiations. The definitions also include any abbreviated forms of the terms, so you will be able to tell your ARMs (adjustable-rate mortgages) from your REITs (real estate investment trusts). This guide defines the players, the problems, the process, and the procedures. Whether you are looking to buy a home, trying to refinance, taking a finance class, or simply curious about the mortgage and lending industry, this dictionary is an indispensable guide to the many terms, tools, and agreements you will encounter at every step of the complex lending process.
Author(s): Atlantic Publishing Company
ISBN 13: 9781601380142
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Title: The Mortgage Wars: Inside Fannie Mae, Big-Money Politics, and the Collapse of the American Dream

Many books have been written about the financial crisis and its causes, but none of them has been written by one of the key figures intimately involved in the drama. At last, one of those top insiders tells the complete story of the mortgage wars that almost destroyed the global economy. In this no-holds-barred account, Timothy Howard exposes the perfect storm of money, power, ideology, and politics that led to the crisis. Howard was the CFO of Fannie Mae until 2004. At its peak, Fannie Mae was responsible for more than one out of every four home loans in the United States. But by the mid-2000s, what seemed to be the most successful mortgage finance system in the world completely broke down. What happened? Howard takes you behind the scenes to show the dramatic struggles between the corporations and the politicians that led to the meltdown. In The Mortgage Wars, you'll learn: How Fannie Mae was born and evolved into the largest mortgage lender in the world How Fannie Mae survived the fi nancial turmoil that killed the thrift industry How the subprime market grew, with very little oversight, and eventually exploded How political and fi nancial jockeying sparked the mortgage wars What we must do to prevent a similar financial crisis from ever happening again At long last, this inside account tells the unvarnished truth about some of the most controversial subjects of our time, including the disturbing new norm of unsafe and unsound business practices in the finance world and the huge problems that arise when politicians try to pick winners in the global markets. The Mortgage Wars tells the real story for the first time, showing how an $11 trillion dollar industry really fights its battles, for better or worse. Timothy Howard also shares his insights on how to keep the mortgage fi nance system safe, offering invaluable, prescriptive advice for all of us as we move forward into an uncertain future.
Author(s): Timothy Howard
ISBN 13: 9780071821094
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Title: The Safe Mortgage Loan Originator National Exam Study Guide

Other topics include: Federal Mortgage-Related Laws SAFE Act Introduction to Mortgage Lending General Mortgage Knowledge Basic Concepts of Mortgage Financing The Loan Application Underwriting, Closing and the Secondary Market Ethics and ...
Author(s): Patricia OConnor
ISBN 13: 9781494465544
Pages: 272
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Title: Mortgage Lending

Keep Current on Dramatic Changes Concerning Mortgage Lending and Federal Preemption • New underwriting standards and the ability-to-repay requirement • New restrictions on loan steering • Limits on flipping and new requirements on appraisers • Restrictions on mortgage broker practices and compensation • Third party charges, including title insurance, private mortgage insurance, and attorney fees • Application of federal and state laws to interest rates, balloon payments, prepayment penalties, negative amortization, and other loan terms • Extent of federal preemption of state laws and new standards for National Bank Act preemption Highly Practical; Invaluable Litigation Tips • Gathering the key documents and how to analyze them • Survey of all applicable federal and state laws • Third party liability and ten limits on the holder-in-due-course defense • Restrictions on arbitration in mortgage litigation • Special litigation requirements where suing failed banks If ordered through the publisher National Consumer Law Center, this treatise includes access to a companion website with the appendices, statutes, pleadings, primary sources and other practice aids. Search for documents by category or with a table of contents or various keyword search options. All documents can be downloaded, printed, and copy-pasted. Pleadings are also available in Word format. Web access for this title is free if ordered through NCLC and remains available as long as this title is kept current through NCLC.
Author(s): Alys I. Cohen;Andrew G. Pizor
ISBN 13: 9781602481053
Pages: 620
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Title: Private Mortgage Investing: How to Earn 12% or More on Your Savings, Investments, IRA Accounts and Personal Equity

In recent years, stock market and traditional investing have proven unstable and not very rewarding as many investors have watched their retirement and personal holding accounts dwindle or even collapse. Banks close, stock markets crash, and returns diminish. Want a safer bet for your hard-earned money? Try private mortgage investing.

Private mortgages investing has grown into a multi-billion dollar industry, becoming an important fixed-income vehicle for many investors with their personal funds, equity, and self-directed IRA accounts. Private mortgage investing is not for the get-rich-quick type of person but is proof that good things come to those who wait; you can comfortably double your money every four to six years. This market allows investors to earn substantially higher yields — while offering the security of real property to back the loan.

Whether you are an experienced real estate pro, new to investing, interested in diversifying your portfolio, or simply tired of trusting stockbrokers and fund managers with your money, this book is for you. Private Mortgage Investing offers an alternative to traditional forms of investment. This comprehensive guide provides detailed information on how to put your money to work in a relatively safe investment with a high return of 12 to 15 percent (or more) in most cases, compared to just 2 percent with most banks. 

Learn to “be the bank” and take control of your investment destiny. Start with the basics of private mortgage investing, including what exactly it is and how it differs from traditional forms of investment. You will learn how to work with mortgage brokers, how to construct an amortization schedule, and how to discern worthy borrowers from risky investments and protect yourself from loss. You will also learn the pros and cons of going it alone versus forming a partnership, the ins and outs of tax code, and the advantages and disadvantages of owning private real estate from your IRA. 

This book will lead you through conversations when approaching mortgage holders and how to establish trust from both banks and borrowers. Learn the value of holding a presentation for a group of potential borrowers, as well as how to calculate a prime loan-to-value ratio to get the best returns on your investment. In addition, this book will lead you step by step through the process of inspecting and updating a property. 

Like any business or investment, there are many details to learn, but you do not need to learn them on your own. We spent hundreds of hours interviewing real estate experts so you have all the resources and information you need right at your fingertips. Updated to reflect the recent housing and subprime mortgage-lending crisis, Private Mortgage Investing will lead you step by step through the different scenarios involved in private mortgage investment and is full of tips, testimonies, and case studies to help you get the most from your money. 

Even in this economic environment of very low interest rates, you can still earn high yields with virtually little or no risk to your investment. This book shows you how.

Author(s): Martha Maeda
ISBN 13: 9781601382740
Pages: 336
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Title: Mortganomics - A Critical Examination of Mortgage Lending Practices, Pricing, and Predatory Abuses

Mortganomics teaches readers how to successfully negotiate the terms of a home mortgage with any bank, mortgage lender or broker. It provides detailed examples how lenders price their home loans and how they can subjectively increase a customer's interest rate to create larger commissions and loan costs. It includes samples of lender's rate sheets showing their wholesale costs for the individual interest rates, and explains how to make a lender guarantee that they will charge only their required minimum fees, and nothing extra that would increase force the borrower to take a higher interest rate. It gives readers a step-by-step verifiable method for paying off their mortgage years early, and an easy method to evaluate how competitive their interest rate and terms are in the marketplace. The book sugar coats nothing when it comes to exposing the ways lenders mark up their costs at a borrower's expense, and the ways that they hide important facts from their customers. This book provides dozens of easy to understand loan pricing calculations that readers can use to negotiate their loan terms and detect predatory lending practices.
Author(s): Terry L Donovan
ISBN 13: 9780615279473
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Title: Mortgage Lending Home Mortgage Loan Processing

Mortgage lending is one of the most secure, respected, and exciting career opportunities available. Each day will bring you challenges that you will overcome, the excitement of helping to create a loan program that meets the needs of both the borrower and the lender, and the satisfaction of helping each borrower achieve their dreams of home ownership. Home Mortgage Loan Processing is an excellent career opportunity that provides stability, advancement, and a sense of satisfaction to each loan processor who obtains the knowledge and skills necessary to excel within the profession. The training contained in the course provides specific information concerning the loan process and the part you and others play in that process. The information we offer in this program provides you with the foundation that you need to become a well rounded mortgage professional. The top of your field, you will specialize in the overall picture. You will develop the perfect mix of knowledge and skills, add to it the creativity required when overcoming the specific issues that occur during the loan process, and gain the ability to reach the top of your profession. The skills you are attaining will make you a commodity that is in high-demand in the market. Loan officers need efficient loan processors to function well and to achieve success. Underwriters rely on well-trained loan processors to ensure competently prepared loan files. Lending institutions depend on carefully trained and customer service oriented loan processors to enhance their reputation as a lender who cares about the overall experience of each borrower The room for advancement within the field of home mortgage lending is tremendous. Mortgage lending is a growing industry. This continued growth creates a constant need for properly trained professionals. You will be an integral part of this industry from the first day on the job. As an important part of the industry, you will prove your desire, drive, and abilities daily and thus ensure that advancement opportunities come your way. Loan processing is more than just processing paper. You will be involved in nearly every aspect of the loan. Lending is an exciting industry that fulfills the dreams of your borrowers. A primary portion of your new position will be to assist every individual in overcoming any issue that arises during the loan process that may delay or even stop the loan closing. You will play an essential role in ensuring that each borrower whose file comes across your desk fulfills their dream and becomes a homeowner. The satisfaction you receive from a job well done will keep you excited to return to work each day. Your loan officer and loan office will have small goals as well as large goals. You will be one of the most important components in reaching those goals.
Author(s): Kenney
ISBN 13: 9781933039350
Pages: 197
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Title: Handbook of mortgage lending (Mortgage Lending Handbook Series)

Author(s): Jess Lederman
ISBN 13: 9780945359432
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Title: Discriminating risk

The U.S. home mortgage industry first formalized risk criteria in the 1920s and 1930s to determine which applicants should receive funds. Over the past eighty years, these formulae have become more sophisticated. Guy Stuart demonstrates that the very concepts on which lenders base their decisions reflect a set of social and political values about "who deserves what." Stuart examines the fine line between licit choice and illicit discrimination, arguing that lenders, while eradicating blatantly discriminatory practices, have ignored the racial and economic-class biases that remain encoded in their decision processes. He explains why African Americans and Latinos continue to be at a disadvantage in gaining access to loans: discrimination, he finds, results from the interaction between the way lenders make decisions and the way they shape the social structure of the mortgage and housing markets.Mortgage lenders, Stuart contends, are embedded in and shape a social context that can best be understood in terms of rules, networks, and the production of space. Stuart's history of lenders' risk criteria reveals that they were synthesized from rules of thumb, cultural norms, and untested theories. In addition, his interviews with real estate and lending professionals in the Chicago housing market show us how the criteria are implemented today. Drawing on census and Home Mortgage Disclosure Act data for quantitative support, Stuart concludes with concrete policy proposals that take into account the social structure in which lenders make decisions.
Author(s): Guy Stuart
ISBN 13: 9780801440663
Pages: 272
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Title: $700 Billion Bailout: The Emergency Economic Stabilization Act and What It Means to You, Your Money, Your Mortgage and Your Taxes

The book is an analysis of the controversial Emergency Economic Stabilization Act and explains in easy to understand language what the bailout bill means for individuals. $700 Billion Bailout answers questions such as: What does the bill say, exactly? Who is making decisions about how the $700 billion will be spent, and what does it mean now that the government is investing directly in our banks? Who’s footing the bill? What is the impact on homeowners, businesses, retirement, and taxes? Where do I put my money in the meantime? Veteran reporter Paul Muolo shows both the challenges and opportunities of the credit crisis and proposed bailout, including its impact on: Mortgages: While rates may be lower, there will be more fees imposed on mortgages. Lenders will be far more cautious in lending, and people who cannot meet their mortgages are likely to lose these homes. This may create a “contrarian” plays in foreclosures and vacation homes.. Stocks and Other Investments: Is now the time to get into the stock market or is it safer to stick with CDs, bonds, and gold? Taxes: With the tax breaks, there will be less tax revenue leading to a huge shortfall to the government over the next few years. He will offer insight into these areas and many others, including how the structure of the bailout bill allows for unprecedented authority that has altered the financial landscape, perhaps permanently. Will the plan work, and how we can prevent this from happening again remains to be seen, but with $700 Billion Bailout Paul Muolo gives us a critical tool for deciphering perhaps the most sweeping piece of legislation since the Patriot Act.
Author(s): Paul Muolo
ISBN 13: 9780470462560
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Title: Managing a Consumer Lending Business

Managing a Consumer Lending Business summarizes the lore and the knowledge of the business as the new century begins. It covers many subjects a good manager should know: the importance of how to attract enough good accounts to offset the inevitable bad accounts that every lender will get, controlling line sizes, encouraging use by good customers/discouraging or controlling the bad customers, managing profitability with predictability, if he or she is to effectively run a high-volume consumer business.
Author(s): David Lawrence
ISBN 13: 9780971753709
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Title: Introduction to mortgage lending

Written for financial service professionals who want a broad overview of mortgage lending, including thoses who intend to pursue a career in mortgage lending(business development, underwriting, processing) and those individuals who recently joined a mortgage lending department. Each chapter ends with a bulleted-list summary, which gives a quick and easy to read review of the major points of the chapter.
Author(s): D. Byron Scullin
ISBN 13: 9780899820835
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Title: MORTGAGE LENDING MARKET: An analysis of the choice criteria

The aim of the study is identify the main determining factor when consumers decide to go for a mortgage loan. No previous study has been carried out in this field and therefore results obtained out of the project will be communicated to the Barclays Bank, where I belong. This paper presents an analysis of customer choice criteria in the home loans market in the following markets of UK, US and Mauritius. In particular, the study investigates the relative importance of choice criteria according to consumers and also analyses differences in the importance of choice criteria with respect to a number of demographic and related factors. Analysis of the date obtained from the survey carried out on a random population of 300 respondents from the telephone directory shows that choosing a home loan institution on the basis of professional advice is the most frequently cited choice criterion on the UK, followed by brand loyalty for the US market and finally for the Mauritian market, the most important factor comes to pricing. The analysis was done by focusing on the three main elements in terms of Focus, Differentiation and Cost Leadership.
Author(s): Ourmila Dawaking
ISBN 13: 9783838323954
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Title: Introduction to Mortgage Lending

From the Preface: Introduction to Mortgage Lending, 2nd edition, is written for financial service professionals who seek a broad overview of mortgage lending, including those who intend to pursue a career in the mortgage lending business (business development, underwriting, processing), and those individuals who recently joined a mortgage lending business. Introduction to Mortgage Lending is an overview publication that introduces the fundamental concepts and principles necessary to develop an understanding and appreciation of the nature and complexity of the business.
Author(s): Andrea Lee Negroni;Jeremiah S. Buckley
ISBN 13: 9780899825908
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Title: Finance and Economics Discussion Series: Giving Credit where Credit is Due? The Community Reinvestment Act and Mortgage Lending in Lower-Income Neighborhoods

I identify and quantify the mortgage supply effect of the Community Reinvestment Act (CRA), a law mandating that banks help provide credit in lower-income neighborhoods, by exploiting a discontinuity in the selection rule determining which census tracts CRA targets. Using a comprehensive source of micro data on MSA mortgage applications, I find that CRA affects bank lending primarily in large MSA's, where banks are most scrutinized. The analysis indicates that CRA's effect on bank originations was about 4% between 1994 and 1996, and expanded to 8% in 1997-2002, consistent with the timing of a reform strengthening CRA. I provide some evidence that marginal loans go to atypical, potentially higher-risk borrowers. The results also indicate net "crowd-in": lending to targeted tracts by unregulated institutions rises in post-reform years, in particular to those areas that have had relatively low home purchase volume in the recent past, consistent with a model of information externalities in credit markets. Finally, using changes in tract eligibility status following the release of Census 2000 data as an additional source of variation, I find that CRA increased bank lending to newly targeted tracts in large MSA's by 4-5% in 2004 and 2005.
Author(s): Neil Bhutta
ISBN 13: 9781288706976
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Title: Mortgage Lending

Author(s): W.R. Bryant
ISBN 13: 9780070086098
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Title: The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement

In 2000, homeownership in the United States stood at an all-time high of 67.4percent, but the homeownership rate was more than 50 percent higher for non-Hispanic whites than for blacks or Hispanics. Homeownership is the most common method for wealth accumulation and is viewed as critical for access to the most desirable communities and most comprehensive public services.

Homeownership and mortgage lending are linked, of course, as the vast majority of home purchases are made with the help of a mortgage loan. Barriers to obtaining a mortgage represent obstacles to attaining the American dream of owning one's own home. These barriers take on added urgency when they are related to race or ethnicity.In this book Stephen Ross and John Yinger discuss what has been learned about mortgage-lending discrimination in recent years. They re-analyze existing loan-approval and loan-performance data and devise new tests for detecting discrimination in contemporary mortgage markets. They provide an in-depth review of the 1996 Boston Fed Study and its critics, along with new evidence that the minority-white loan-approval disparities in the Boston data represent discrimination, not variation in underwriting standards that can be justified on business grounds. Their analysis also reveals several major weaknesses in the current fair-lending enforcement system, namely, that it entirely overlooks one of the two main types of discrimination (disparate impact), misses many cases of the other main type (disparate treatment), and insulates some discriminating lenders from investigation. Ross and Yinger devise new procedures to overcome these weaknesses and show how the procedures can also be applied to discrimination in loan-pricing and credit-scoring.

Author(s): Stephen L. Ross
ISBN 13: 9780262182287
Pages: 469
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Title: Mortgage Lending and Investing: Understanding Risks in a Changing Market - John W. Starke - ...

Author(s): John W. Starke, Alice K. Starke
ISBN 13: 9781556230929
Pages: 397
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Title: Foreclosed: High-Risk Lending, Deregulation, and the Undermining of America's Mortgage Market

In 2007 and 2008, the United States has observed, with some horror, the explosion and collapse of entire segments of the housing market, especially those driven by subprime and alternative or "exotic" home mortgage lending. Foreclosed explains the rise of high-risk lending and why these newer types of loans―and their associated regulatory infrastructure―failed in substantial ways. Dan Immergluck narrates the boom in subprime and exotic loans, recounting how financial innovations and deregulation facilitated excessive risk-taking, and how these loans have harmed different populations and communities. Immergluck, who has been working, researching, and writing on issues tied to housing finance and neighborhood change for almost twenty years, has an intimate knowledge of the promotion of homeownership and the history of mortgages in the United States. The changes to the mortgage market over the past fifteen years―including the securitization of mortgages and the failure of regulators to maintain control over a much riskier array of mortgage products―led, he finds, inexorably to the current crisis. After describing the development of generally stable and risk-limiting mortgage markets throughout much of the twentieth century, Foreclosed details how federal policy-makers failed to regulate the new high-risk lending markets that arose in the late 1990s and early 2000s. The book also examines federal, state, and local efforts to deal with the mortgage and foreclosure crisis of 2007 and 2008. Immergluck draws upon his wealth of experience to provide an overarching set of principles and a detailed set of policy recommendations for "righting the ship" of U.S. housing finance in ways that will promote affordable yet sustainable homeownership as an option for a broad set of households and communities. The 2011 paperback edition features a new preface by the author addressing the ongoing global economic crisis and the impact of U.S. financial reform efforts on the mortgage system.
Author(s): Immergluck, Daniel
ISBN 13: 9780801447723
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Title: Don't Be Denied: A simple guide to obtaining a mortgage in today's lending environment (Volume 1)

Today’s lending environment follows on the heels of the worst 36 months of a boom-and-bust housing era, which has resulted in the government imposing huge regulatory hurdles on lenders of all types and sizes. It seems that when it comes to applying for a mortgage, want-to-be homeowners are asked for everything but their blood type and shoe size! Don’t Be Denied is written in easy-to-understand language for today’s homebuyer. This book lays out the steps you can take to prepare yourself for the loan application process and successfully obtain a mortgage for your home. Obtaining a home loan is not about being sold a mortgage—it’s about becoming educated on how to obtain a mortgage! By working with the right experts and learning how to navigate the new world of lending, you, too, can achieve the American dream.
Author(s): Joe Adamaitis
ISBN 13: 9780615686134
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