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Aug 21, 2024
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FIN 480 - Real Estate Finance Units: 3 Study of equity, mortgage, lease, sale and lease-back, and innovative methods of financing residential and commercial real estate, including related tax effects. Analysis of mortgage-backed securities, including related pricing techniques.
Possible Instructional Methods: On-ground or Online-Asynchronous. Grading: A-F grading only. Course Typically Offered: Spring ONLY
Student Learning Outcomes - Upon successful completion of this course students will be able to: - Identify time value of money (TVM), ATIRR and NPV concepts which apply to mortgage financing and real estate investment decision-making.
- Compute fixed-, adjustable-rate and other alternative mortgage payments.
- Construct pro-forma statements for alternative financing such as participation, interest only, convertible and sale-leaseback loans.
- Analyze construction financing including the construction and permanent (take-out) loan.
- Construct limited partnerships financial analysis including ATIRR and NPV.
- Examine REIT financial statements for investment decision-making such as understanding the importance of FFO.
- Compute pricing of MBSs including secondary mortgage market related derivative securities and applying option pricing techniques to price MBSs while incorporating prepayment and default risks.
- Compute duration for MBSs and understanding the effects of convexity on MBS pricing.
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