Real Estate Finance Today is a comprehensive look at the use of principal financing instruments. The course concentrates on the government influences on real estate finance, the current trends in mortgage lending, the features and functions of conventional mortgages and government insured or guaranteed loans, and some special financing alternatives.

This course defines and explains the use of the principal financing instruments: the note, the mortgage, and the deed of trust. It names the major sources of mortgage loan funding in the primary market and identifies the role of the primary players in the secondary market. The significance of the Federal Reserve Board as it relates to mortgage lending is explained along with the functions of the government agencies and significant congressional acts that are most influential in home mortgage financing. Current trends in mortgage lending, including computerized loan approvals, credit scores, and risk-based financing are discussed. The guidelines of the Fannie Mae and Freddie Mac conforming loans are listed, the purpose of private mortgage insurance is explained, and students are shown how to calculate the borrowing power of a prospective purchaser in addition to other mortgage loan issues. The guidelines, costs, and compensating factors involved in government insured or guaranteed loans are explored as well as the special financing alternatives that may be used in various situations.