Course Administration
Syllabus for FIN 3334 -- Undergraduate Real Estate Finance
Syllabus for FIN 5334 -- Graduate Real Estate Finance
Time Value of Money Review Problems
Answer Key for Quizzes/Problem Sets
Problem Sets
Lecture Slides
Test #1 Material
Introduction to Real Estate Finance
The Theory of Financial Intermediation
Credit Flows and Interest Rate Determination in Real Estate Markets
The Term Structure of Interest Rates
Finance Theory and Real Estate Valuation, Part I
Finance Theory and Real Estate Valuation, Part II
Finance Theory and Real Estate Returns
Test #2 Material
Maturity, Duration, and Interest Rate Risk in Mortgage Markets
Alternative Mortgage Instruments
Test # 2 with answers
Test #3 Material
Social Issues in Mortgage Lending
Valuing Mortgage-Backed Securities
Collateralized Mortgage Obligations
Required Readings
Akerlof, George A. "The Market For 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, V. 84, No. 3, pp. 488-500, August 1970.
Munnell, Alicia H., Geoffrey M.B. Tootell, Lynn E. Browne, and James McEneaney, "Mortgage Lending in Boston: Interpreting HMDA Data," The American Economic Review, Vol. 86, No. 1, pp. 25-53, March 1996.