chapter 9 ppt - CHAPTER 9 Mortgage Markets 1 CHAPTER 9...

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1 CHAPTER 9 Mortgage Markets
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2 CHAPTER 9 OVERVIEW This chapter will: A. Describe the characteristics of residential mortgages B. Describe the common types of residential mortgages C. Explain how mortgage-backed securities are used.
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3 A. Characteristics of Residential Mortgages 1. Mortgage contract should specify a. if the mortgage is federally insured b. the amount of the loan c. fixed or adjustable interest rate d. The maturity e. Other provisions
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4 B. Common Types of Residential Mortgages 1. Residential Mortgage Types: a. Fixed-rate b. Adjustable-rate (ARM) c. Graduated-payment d. Growing equity e. Second f. Shared-appreciation
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5 B. Common Types of Residential Mortgages 2. Institutional Use of Mortgage Markets Two Broad classification: institutions that a. Originate and sevice a mortgage b. Finance a mortgage
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6 B. Common Types of Residential Mortgages 3. Financial Institutions That Originate Mortgages a. Commercial banks and savings banks are primary originators of mortgages 4. Participation in the Secondary Market a. Roles of Fannie Mae, Ginnie Mae, and Freddie Mac
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This note was uploaded on 09/21/2011 for the course FINANCE 3321 taught by Professor Jianjundu during the Fall '11 term at University of Houston-Victoria.

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chapter 9 ppt - CHAPTER 9 Mortgage Markets 1 CHAPTER 9...

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