REFD events are noted on the Calendar below
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Updates here . . . Class examples here Wall Street Journal's Real Estate News here Are we now become a nation of renters? This site will give you interest rates on a variety of financial securities. Office Market recovering here Debt to House value for selected cities here World's most expensive house - no family yet here and related Deficiency judgments here. This article notes that the judgment typically last for 20 years, and that the lender has 5 years to file them. Google investing in residential solar panels here. After the foreclosure, here. Refinance boom? Banks being sued for providing FNMA and FHLMC with bad loans here Foreclosed on even though you paid cash, here, here, here Still the American Dream. The return of subprime mortgages? Twenty Fives Years in Foreclosure here Second mortgage stalls short sale here New FHA premiums here How complicated is that mortgage deal? JPMorgan Suspending Foreclosures, NYT here follow up article here and here and here and here and here and here and here and here and here and here An alternative to strategic default?
Equity Stripping Video from NYT here Loan delinquency and default from NYT here. Fast loan modifications from WSJ here. How much is a building worth? here How far did home prices fall, and when will they recover, according to fiserv Home price indices here. The future of home prices from NYT here. A recent CMBS issue here CMBS delinquencies report here Brief history of housing bubble here Recent report on CRE capital markets from HFF, Inc Foreclosure article in NY Times here. Judicial opinion in foreclosure in NY here. Seven rules for First-Time home buyer NY Times here Mortgage Reset Woes from NY Times here A story from a financial reporter's own situation NY Times here Commercial default in Manhattan? NY Times here Vacancy and CRE values, NY Time here. Example - Worldwide Plaza in Midtown Manhattan, NY was purchased for $1,900 million in February 2007, and sold recently for $590 Million, a loss of almost 70%. It had been purchased at $1000 per sqft and sold for $369 per sqft. 43% of the building is currently vacant. Cant' sell your house - try St. Joseph. NY Times here Listen on your computer to Giant Pool of Money - led to subprime crisis, NPR, here Listen: Return to the Giant Pool of Money Sep 2009 Update - led to subprime crisis, NPR, here Article on how WAMU got into trouble. NY Times here "WaMu’s adjustable-rate mortgages expanded from about one-fourth of new home loans in 2003 to 70 percent by 2006. In 2005 and 2006 — when WaMu pushed option ARMs most aggressively . . . ." More on Option ARM's NY Times here "In New Jersey, there were 17,525 option ARMs still outstanding at the end of June, and 11.4 percent of the homeowners with those loans are at least 30 days delinquent on their payments. In Connecticut, 4.7 percent of the 7,233 outstanding option ARMs are delinquent. In New York, the delinquency rate is roughly 5 percent of the 29,382 option ARMs." "The Mortgage Bankers Association said that last month 3.5 percent of the mortgaged homes in New York were in foreclosure, up from 2.4 percent a year ago. In Connecticut, it was 3.2 percent, up from 1.95 percent. New Jersey, meanwhile, had a rate of 5.03 percent, up from 2.7 percent and above the national foreclosure rate of 4.3 percent." Costar News - Sale of Lloyd Center in Portland OR. Costar News - IRS Rules change for CMBS. New mortgage rules coming NY Times here Appraisal Example NY Times here IRS Revenue Procedure regarding CMBS here Deed of Trust with 6-month LIBOR ARM rider Deed of Trust with 12-month LIBOR ARM rider Deed of Trust with Prepayment rider Deed of Trust Second Mortgage Purchase Money Current State of Mortgage Insurance here Fannie Mae rule for mortgage modification here FDIC forbearance plans NY Times here New RAM guidelines NY Times here New TILA (Truth in Lending Act) from Federal Reserve with links A report on rising defaults with FHA loans, NY Times here Scam for Loan Modifications? NY Times here The F.H.A. says it is insuring loans to more financially secure buyers with higher credit scores. The average credit score of new borrowers, it said, is 693, compared with 633 two years ago. |
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MBA/MS Program Goals |
Master of Business Administration: Students will
· Be able to apply business and economic concepts and principles to a broad range of organizational and corporate decision problems, from both a theoretical and an objective, real-world viewpoint.
· Be knowledgeable of fundamental business and economic concepts, principles and theories, and apply them in terms of understanding the competitive forces facing a firm, assessing the attractiveness of various industries, and identifying potential sources of competitive advantage and disadvantage of firms.
· Be proficient at using quantitative methods and associated research techniques to identify and analyze business issues and policies within theoretical and practical contexts.
· Be knowledgeable of the ethical and other leadership issues facing business organizations, and have an appreciation of the various leadership roles and social responsibilities of the players in a business environment.
Master of Science in Finance: Students will
· Understand the measurement and creation of value that occurs through different business activities, including the measurement & impact of risk on value.
· Be skilled in communicating the results of the analyses of financial information.
· Acquire analytical skills necessary to pursue a variety of career paths in finance.
· Be able to pursue knowledge independently.
Lecture Power Points Power Point Outlines will be posted here as the course progresses
| Chapter 19 Chapter 20 |
Homework (show your work, due at beginning of class, late homework=0)
| Due Date | Assignment |
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September 8 |
Chp 3: 1-6, 8-10, 12-14, 16-18. Solution Practice Quiz. |
| September 15
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Chp 4:1-11, 18-19 (14th Edition) Chp 4: 1-11 (13th Edition) |
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September 22
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Online Quiz Chapter 4: Chp 4:13-16, 20 (14th Edition) Solution Chp 4: 13-16, 18 (13th Edition) |
| September 29
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Online Quiz 5: 1,2, 4-8 Chp 5: 1-8 Solution |
| October 6
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Chp 6: 1-9 Solution |
| October 13
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Study for Midterm Exam |
| October 20 |
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| October 27 | Chapter 8 Problem Qualify Example Solution |
| November 3 | Land Improvement Depreciation Note CRE Proforma CRE Proforma Check Figures Proforma Notes |
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November 10 |
Construction Finance HW Solution |
| November 17 | Lease & Proforma HW More Check Figures Lease Solution Proforma Solution |
| November 24 | Happy Thanksgiving! |
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