After reviewing the history of mortgages in the United States, this finance textbook explains the loan origination and securitization process, mortgage underwriting criteria, automated
valuation methods, the splitting of mortgage pools, and commercial loan covenants. An international survey compares mortgage types, sources of mortgage finance, mortgage market size, and
mortgage performance in 11 countries. The last chapter describes the basic business model of Fannie Mae and Freddie Mac, and makes a case for government-sponsored enterprise reform that retains
a market-driven approach but corrects problems through better regulation and charter revisions. Annotation ©2014 Ringgold, Inc., Portland, OR (protoview.com)
