real estate finance - full book (500 pgs)

5 1 the

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Unformatted text preview: ..................................................................................................... 5-1 THE FEDERAL RESERVE SYSTEM....................................................................... 5-1 Purpose ............................................................................................................... 5-1 Money Supply ...................................................................................................... 5-4 Member Banks .................................................................................................... 5-4 THE TREASURY DEPARTMENT............................................................................ 5-8 Federal Deposit Insurance Corporation (FDIC) ................................................... 5-9 FEDERAL HOME LOAN BANK BOARD................................................................ 5-10 The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) ........................................................................................................... 5-11 FEDERAL MORTGAGE FINANCE SYSTEM ........................................................ 5-13 Government National Mortgage Association (GNMA) ...................................... 5-13 Federal National Mortgage Association (FNMA) / Fannie Mae......................... 5-15 Federal Home Loan Mortgage Corporation (FHLMC) / Freddie Mac................. 5-17 GOVERNMENT BACKED LOANS (FHA, DVA, CAL–VET)................................... 5-19 FEDERAL HOUSING ADMINISTRATION ............................................................. 5-19 Major Loan Reforms .......................................................................................... 5-21 Mortgage Insurance Premium (MIP).................................................................. 5-23 Advantages of FHA............................................................................................ 5-24 Dynasty School (www.dynastySchool.com) 1-3 REAL ESTATE FIN...
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