ACTIVITY: Final Paper – Part 2 (Financing Scenario)
Let’s continue our final project for this class by writing out the financing scenario for the borrowers. Download the mock data in this form, Borrower Mortgage Profile Data, and save it to your computer or cloud drive. Use this data (or create your own) to write your two paragraphs that will be part of the narrative report for the final paper. Please use. this. text. book Real Estate Finance 8th Edition by Walt Hubert and Walt Zozula, 2018. ISBN: 978-1626841789 Here’s the data sheet:
You will also need to calculate a mortgage payment. Click here to access Karl’s Mortgage, which is a free resource that you can also install on your phone as an app: https://www.drcalculator.com/mortgageLinks to an external site.
PLEASE SCROLL DOWN TO THE BOTTOM FOR 2 VIDEOS THAT WALK YOU THROUGH THE ASSIGNMENT STEP-BY-STEP.
First, read the textbook Chapter 13 (pages 359-365) and textbook Appendix 1 (Real Estate Finance Mathematics; pages 431-438). If you are using the previous version (7th edition), refer instead to Chapter 15, “Real Estate Finance Mathematics”.
Next, using the mock data found in the profile sheet, write 3 paragraphs with facts about the mortgage loan scenario and financial calculations. Answer the questions below (shown in the template) in complete sentences. Write 3 to 5 sentences for each of the three paragraphs.
Lastly, insert textbook pages in parenthesis from Chapter 13 or Appendix 1 and submit assignment here in Canvas. Insert at least one textbook citation (page numbers in parenthesis) per paragraph.
NOTE: You may use your own mock data, rather than the mock data supplied, if you prefer. Do NOT use anyone’s real social security number or other confidential data.
In the first paragraph, what is the address of the house? How much is the house purchase price? What is the down payment and what amount will be financed? What is the loan to value (LTV)? What are the closing costs? Reference the textbook (Chapter 13 or Appendix 1).
In the second paragraph, we will examine and calculate the loan ratios. What are the monthly housing costs with the new mortgage loan? With the new loan, what would be the debt-to-income (DTI) ratio as the front-end and back-end loan ratios? In the third paragraph, answer these risk-related questions with full sentences. Is this loan likely to be underwritten by the mortgage company? Why or why not? What type of risks would the lender encounter? How would the risks be minimized? Reference the textbook (Chapter 13 or Appendix 1).
Acronyms and ExplanationsFront end ratio = Housing costs. PITI + HOA + any other costs, example: Mello-Roos
PITI = Principal, Interest, Taxes, & Insurance
HOA = Home Owners Association (example: monthly dues for condo or PUD)
Mello-Roos = Assessment for public improvements added to property tax bill Back end ratio = housing costs (above) + ALL OTHER DEBTS THAT APPEAR ON YOUR CREDIT REPORT
FHA Debt Ratios = http://www.fhahandbook.com/debt-ratios.phpLinks to an external site.
Loan Calculations – Example
Module 4 Overview PLUS Module 4 Activity (Loan Calculations): Module 4 – Another video walkthrough step-by-step Example
DO NOT COPY THIS SAMPLE ASSIGNMENT WORD FOR WORD. Please use the structure as an example only and write in your OWN words. In addition, you will need to do some basic math calculations.
January 1, 2021
Real Estate Financing by Huber
For Mickey and Minnie Mouse’s loan application the property to be purchased is located at 1961 Rams Road, Victorville, California, 92395. The purchase price is $__________. Since it is an FHA loan, the downpayment is ___%, which is $__________ (p. 434-435). Therefore the loan-to-value (LTV) is ___%, and the loan amount is $__________. Closing costs are approximately ___% of the purchase price, which calculates to $________. Mickey and Minnie Mouse’s monthly housing costs with the new mortgage loan includes $_______ for the mortgage principal and interest, $______ for the property taxes, $______ for the fire hazard insurance, and $_____ for the MIP insurance, for a total of $________ per month. Calculating the total monthly debts would include the housing total of $______ plus the other three debts listed ($_____) for a total of $_______ monthly debts (p. 361). That makes the debt-to-income (DTI) ratio for the front-end: monthly housing cost $_______ , divided by total monthly income $_______ equals ____% DTI. The back-end loan ratio is total monthly debts $_______, divided by $_______ total monthly income equals ____% DTI. Yes, this loan is likely to be underwritten by the mortgage company because ____________________________. Possible risks for the mortgage lender would include __________________. However, the risks would be minimized because ______________________ (p. 362).
In Harmonize, write a brief summary of the textbook (5 paragraphs) Chapters 5 and 6 to include the following paragraphs with headings: an overview, 3 key concepts, and a summary. Each “key concept” must include the textbook page numbers. Each paragraph needs a minimum of 3 sentences. Use the template format provided below. Refer to the model assignment (sample) following the template.
After writing your discussion, you must reply to at least 2 other student discussions with feedback of at least 50 words. This is your “peer engagement” component of your grade. NOTE: Spelling and grammar are important, so please spell-check and read your work out loud to catch and correct any errors prior to submitting.
Key Concept from Chapter 5
Key Concept from Chapter 6
Key Concept from Chapters 5 or 6
BELOW IS A SAMPLE REFLECTION SUMMARY. DO NOT COPY THE CONTENTS. IT IS A SAMPLE ONLY TO ILLUSTRATE THE STRUCTURE.
Course: BRE 126, Real Estate Finance
Student Name: Ima Success
Today’s Date: 02/20/2024
Textbook Author: Huber, W.
Chapters # 5 – 6
The topic of Chapter 1 is an introduction to real estate principles. This chapter covers four important concepts for the real estate student. First, the real estate licensing in California is discussed, along with the real estate market. Second, the historical influence of real property is examined. Third, the difference between real property and personal property is spelled out clearly. And last, the chapter concludes by analyzing various methods of land description. These concepts are important because they may be on the real estate exam for licensees.
Key Concept from Chapter 5
I learned that real estate can be a profitable professional (p. 4). One of the reasons it can be profitable is because the compensation to agents is based on the sales price of the house. In California, real estate values are typically high, which translates into a high commission. The commission is always paid to the broker, but the real estate salesperson receives a portion. Many real estate agents are using social media to promote their services.
Key Concept from Chapter 6
The second thing I learned is that property owners have a “bundle of rights” (p. 5). It means they have control of certain things because they own the real estate. Generally, people view it as a bundle of sticks, with each one of them being a “right” the owner has. Their types of rights vary based on their level of ownership. For example, homeowners have the right to possess (live in) their houses – unless they rent out the house to tenants. In that case, the tenant now has the right to possess the house.
Key Concept from Chapter 5
The third concept I learned is the definition of real property (p. 6). There are four things that define real property: land, affixed to the land, appurtenant to the land, or immovable. These items “tests” are what separates real property from personal property. For example, a refrigerator can be moved out of the house, so it is considered personal property. However, a fence is permanently dug into the ground so it becomes part of the real property, along with the land and the house.
This was an interesting chapter and I learned a lot about real estate. Real estate has a long and colorful history in California. There are several types of land description methods, which will probably be on the state real estate exam. I know I will have to study some of the concepts further, such as the MARIA acronym of determining personal versus real property. In addition to the knowledge of concepts, real estate involves math calculations.
one of the three links and since I did not do so well on the worksheet and we have not covered much of the American Revolution, Im thinking we should use one of the other two links. Either Brittish North America or Colonial Society. She explained if we do not like the choice we picked to answer the questions for the worksheet it is ok to switch the topic to one of the other two.one of the three links and since I did not do so well on the worksheet and we have not covered much of the American Revolution, Im thinking we should use one of the other two links. Either Brittish North America or Colonial Society. She explained if we do not like the choice we picked to answer the questions for the worksheet it is ok to switch the topic to one of the other two.one of the three links and since I did not do so well on the worksheet and we have not covered much of the American Revolution, Im thinking we should use one of the other two links. Either Brittish North America or Colonial Society. She explained if we do not like the choice we picked to answer the questions for the worksheet it is ok to switch the topic to one of the other two.
Pick one of the two I recommend, Brittish North America or Colonial Society
Over the course of this class, you will learn how to think critically about primary sources. These assessments (three in all) will help you to complete Student Learning Objective 3:
Evaluate the role of an individual in the development of an historical phenomenon such as an event, turning point, or trend in the American experience through 1876.
Together, these assessments will build on one another, providing stepping stones toward a more thorough and clear analysis of primary sources. The assessments include:
Primary Source Analysis Worksheet (due OCC Week 4, Module 4)
Primary Source Analysis Paper 1 (due OCC Week 6, Module6)
Primary Source Analysis Paper 2 (due OCC Week 13, Module 13)
Due Date: Week 6 Spring 2024HIST 170: Primary Source Analysis Paper I (50 pts of overall course grade) (lowest grade of 2 papers will be dropped)
Submitted to Turn It In via our Canvas website by 11:59 PM on Sunday, Week 6 (late submissions will be docked daily).
The PromptLinks to an external site.
Historians turn to primary sources to tell us about life in a certain place and time. For this worksheet, you will identify a textual primary source from Chapters 3 (British North AmericaLinks to an external site.), 4 (Colonial SocietyLinks to an external site.), the assigned primary source reader (YAWP Reader).
Using your chosen source and notes from the primary source analysis worksheet, write an essay (3 to 4 pages) on the author’s relationship to colonial America or Revolutionary America with the following sections:
Section 1: An introduction that: A) describes colonial America or Revolutionary America in the context of Chapters 3 and 4 or 5 (Yawp textbook), noting three central or important components of the time period (colonial America or Revolutionary America); B) introduces the primary source and its author; and C) provides a thesis statement (argument) indicating the way in which your analysis will effectively connect the author/primary source to the time period.
Section 2: A section in which, based on your evaluation of the primary source, you indicate the observer’s understanding of the time period (colonial America or Revolutionary America), supporting your assertions with specific paraphrases/quotes of the text.
Questions to Consider for This Section: how does your author view the time period and its place in American society? Do they focus on a particular topic of the time period? Do they see it as a good thing? A bad thing? A complex thing?
Section 3: A section addressing the author’s view of the time period (colonial America or Revolutionary America) within the larger historical context. Provide three clear and distinct comparisons (commonalities or disconnects) between the author’s particular observation of the time period and the “reality” of the Era that we have examined in class. Provide support from the primary source and course content to clarify why you arrived at each conclusion.
Questions to Consider for This Section: what material from the Colonial America or Revolutionary America lectures/textbook content does your author reassert/support? What content/problems/people from the Era are off your author’s radar?
Section 4: A section discussing what larger course theme[s] are prevalent in your primary source. These themes include but are not limited to: Power [who has it?]; Land and Property; Freedom and Liberty; the Power of Place/Region; Individual v. Community v. Nation; Race; Gender; Class; American “Character;” Rhetoric v. Reality. Strong papers will focus on one or two course themes rather than many. Support your assertion with specific paraphrases/quotes from the text.
Section 5: A conclusion restating the author and source, the three components of the time period (colonial America or Revolutionary America) from section 1 and introducing questions the primary source raised for you [Identifying questions for further investigation].
You should not consult outside sources for this assignment. If you need additional context, turn to the textbook or lecture notes. You MUST cite (in-text citations and work cited) all sources you use, including lecture. The best papers will incorporate and closely analyze quotations.
Follow standard formatting guidelines provided on Canvas. Ensure that you have properly cited throughout your paper (in-text citations) and included a work cited page. You will be expected to cite and format correctly and will lose points if you do not. See our Canvas course page in Week 1’s module for citation support. Note: your paper should not be more than 5 pages.
Your paper must be typed, double-spaced, 12-point Times New Roman (1 margins) and uploaded to TurnItIn (via our Canvas website) by the end of OCC Week 6. Late work will be docked daily.
Your paper will be graded on: 1) the standard requirements (page length, citations, font, etc.), 2) clarity of the content (your ability to follow the above-mentioned sections in a clear and concise manner), and 3) the effectiveness of the analysis/contextualization itself.
Please come to me with any questions you may have! I am here to help and am more than happy to look at drafts if given enough time!
Analysis Paper Checklist
___ 1) Did you choose a text-based primary source from the Yawp Reader, Chapters 3, 4, or 5?
___ 2) Does your paper meet the standard requirements? (between 3 full – 5 pages, double spaced, etc)
___ 3) Does your paper include in-text citations AND a work cited?
___ 4) Did you choose ONE time period in which you analyze your source? (Colonial American or Revolutionary America)
___ 5) Did you clearly complete Sections 1, 2, 3, 4, and 5?
___ 6) Did you provide clear evidence to support your statements?
___ 7) Does Section 1 include a thesis statement?
___ 8) Does section 3 engage the primary source within the time period chosen by providing clear and specific evidence from both the primary source and textbook/lecture/or other primary sources?
___ 9) Did you proofread your paper and confirm it is the correct paper you will submit to TurnItIn?
NOTE: triple check your submission before you turn it in. What I receive is what I grade.
Primary Source Analysis Paper Rubric
Hooray! You Turned in a Paper!
Meeting the Standard Requirements Met Above
Clarity of Content
1. Section 1
2. Section 2
3. Section 3
4. Section 4
5. Section 5
Effectiveness of Analysis
Part1) Read the textbook (Chap 2: Ethnic Stratification: Majority and Minority) carefully and based on the info presented in the chapter and the notes answer the following questions. w4r1
What is social stratification?
The textbook says that “… in all cases this system of inequality is structured.” (p. 27) Explain what this statement means.
According to the textbook, what determines a group’s position in social hierarchy?
What ideology does the ruling class use to legitimize social inequality that exists in the US?
In many societies, women are the slight majority in term of number. Nevertheless, they are usually considered to be a minority. Explain why.
How is the cultural power of the dominant ethnic group (i.e., white Anglo-Saxon Protestants) exhibited in the US?
The textbook gives Jews and Koreans as examples of middleman minorities in the US. Other than Jews and Koreans, which group in the US can be considered as a middleman minority? Explain why you think so.
Explain how pluralistic minorities differ from assimilationist minorities.
Explain how secessionist minorities differ from militant minorities.
What kind of minority (pluralistic, assimilationist, secessionist, or militant) are Russians living in the eastern part of Ukraine? Explain your answer.
part2) Week 4 Quiz
Week 4 QuizClick the above link to take the quiz for Week 4, covering Chap 2..This quiz tests your understanding of key concepts presented in Chapter 2. Take this quiz after you have finished reading Chap 2, Chap 2 Notes and Supplementary Readings. This is an open-book quiz.There are 13 multiple-choice questions in this quiz. You can have 1 hour to complete this quiz. Once you start taking the quiz, you have to finish it in one setting.
SW 391: Social Work Practice II, Fall 2023
Current Issues in Group Social Work Practice Group Outline method chose(Why Try)
your articles should be related to evidence based interventions or theoretical orientations that are utilized
for substance abuse treatment. Provide a list of articles utilizing APA format to cite articles, and create a
100-200 word abstract summarizing the article and how it relates to your theoretical orientation/chosen
group. Use articles found to inform your understanding of the theoretical orientations used in group social
work practice and also utilize researched interventions as part of your outline for the group session. Please
see Canvas modules for example of Annotated Bibliography.
The objective of the reading responses is to give you the opportunity to explore the ideas in the reading/listening materials—and your thoughts on those ideas—in longer written form than the discussion questions. There are no right or wrong answers in these assignments, although there are a few guidelines and requirements, as per the rubric below. You can use your discussion questions as a conceptual starting point (although text should not be directly copy-pasted from material you have already submitted), or you can go in an entirely different directioon.
Rubric is attached below.
Please respond. to. Samantha. with. 150. words Discussion 3 Chapters 5 & 6 Reflection Summary
Bre 126 – Real Estate Finance
Chapters # 5 & 6
Chapter 5 covers 4 concepts and the first one is Ethics which simply means to do the right thing, the second one covers Fraud, which deals with mortgage fraud or fraud of property and consumer protection. The third covers Fair Lending is equal lending with no discriminations and the fourth is The Real Estate Industry and Fair Lending which deals with federal fair housing laws and Civil rights Act.
Key Concept from Chapter 5
In this chapter I learned that there are many fraudulent schemes in real estate. One would be the Air Loan Fraud scheme is when the borrower and property don’t exist. The mortgage broker sets up a mailboxes to confirm the fake applications, he/she opens a bank account and even set up phone numbers.(p. 99). Wow some people are pretty bold and have no fear of which this is no surprise, criminals always lurking.
Key Concept from Chapter 6
Chapter 6 teaches about Federal Regulation. Federal Regulation such as TILA-Truth in Lending Act, RESPA-The Real Estate Settlement Procedures Act and TRID-TILA, RESPA Integrated Disclosure rule (p. 129). Regulation Z implemented the Truth in Lending Act which requires that the lender must give the consumer a disclosure of all finance charges.
Key Concept from Chapter 5
Another concept in this chapter I learned about is Federal fair Housing Laws – The Civil Rights Act of 1866 was passed by congress after the Civil war ended and you can see what the Civil Rights Act of 1866 on (p.108), I would love to quote it but I dont want to have a high Turnitin percentage, LOL, 🙂 but it is truly so awesome knowing that all have the same rights etc…
by Samantha Thompson
I really enjoyed these two chapters as they were interesting and very informative. More to learn and I’m ready absorb it all in real estate, that is all the positive absorption to be exact. I do see some math dealing with real estate of course, I’ve always been able to calculate money but have some studying to do with the percentages and fractions I would say but bring it on. 🙂
please respond to viridiana with. 200. words Chapters 3 and 4
Chapters 3 and 4
Chapter 3 discussed the various sources of loan funds available for real estate loans. There are several lenders in the market for real estate loans that have been around since the establishment of the original building and loan societies in the 1830s, as mentioned in Huber (p. 47). Moving on to Chapter 4, it delved into the secondary mortgage market. I will provide further details about these two chapters in my key concepts.
Key Concept from Chapter 4
According to Huber, the Secondary Mortgage Market is a marketplace where existing loans and servicing rights are sold and bought between mortgage originators, mortgage aggregators (securitizers), and investors (p. 69). In this market, new mortgage loans are frequently sold by secondary mortgage companies. Lenders who are involved in the secondary mortgage market buy mortgages from originators by selling bonds to raise funds (Huber, p. 69).
Key Concept from Chapter 3
Savings banks and commercial banks, also known as savings institutions, share many similarities. Savings banks typically lend most of their mortgages to single family residents, while mutual savings banks lend more to commercial property. According to Huber, mutual savings banks play an active role in local real estate financing activities by providing long-term mortgage loans. They derive over 70% of their assets from savings accounts, which have a long-term quality.
Key Concept from Chapter 3
An equity loan is a type of loan that homeowners can obtain based on the equity of their property. This loan is essentially borrowing money against the value of the home, which places a lien on the property until the loan is fully repaid. According to Huber, an equity loan is typically considered secondary financing because there is typically already at least one prior loan against the property. The first or priority lien on real estate is known as primary financing. (Huber, p. 61).
These two chapters provide a thorough understanding of real estate lending. The process of buying or selling a home can be influenced by numerous factors. However, we do know that there are several types of loans available for purchasing property.
by Viridiana Zepeda
please respond to cj. with 180 words Chapter 3 & 4 OverviewChapter 3 entails a lot of information and detail about direct lenders and about indirect lenders. It also discusses the role of an private investor which I a interesting in learning about. Chapter 4 is a little smaller chapter, but still has important details such as the secondary mortgage market and the federal credit agencies.
Key Concept from Chapter 3To discuss direct lenders, there is the forces of disintermediation, “which is a loss of savings deposits from financial institutions to higher yielding competitive investments (i.e., Money market funds, which are private investment accounts not insured by the FDIC” (pg. 47). Saving banks is an direct lender that lends to single family residences. Mutual saving banks plays an active role in real estate finance, it’s purpose is to provide long-term mortgage loans.
Key Concept from Chapter 4Securities play an important role because it is an ownership interests in business, associations, or property. The FNMA and FHLMC are government charted private lenders, they were created to establish a strong secondary market. The FHA and the VA are important concepts to look over, the FHA insures as the VA guarantees residential mortgage loans. “While it is commonplace for brokers, borrowers, lenders, and investors to refer FHA loans or VA loans, neither of these government agencies buys or sells mortgage loans.” (pg.80).
Key Concept from Chapters 3 The role of the private investor entails the private individual who is forced into the world of real estate finance. The real estate investment trust (REIT) “is a stock corporation that owns and manages income-producing real estate for their stockholders” (pg.57). The real estate investment trust act, entails that congress makes it possible for investors to enjoy flow in tax advantages partnerships. Most people invest in REIT because they’re not taxed twice.
SummaryTo conclude on this discussion, I enjoyed reading chapter 3 the most, I had a lot to learn about direct lenders and the role in private investing such as REIT stock corporation and the internet or direct and indirect lenders. Chapter 4 gave me insight on what securities are in real estate finance. I also connected the dots of the purpose and details on Fannie Mae and Freddie Mac agencies.
Complete case study 3, Sanchez Family, and submit by Sunday at midnight. The case study is worth 100 points. Case studies can be found on the Routledge book site. Review the case, and answer the following questions:
What would you say are the three most crucial challenges facing the family? Explain why you see these as the most pressing concerns.
Reflect on how your own background—including your various identities, but also your growing professional identity as a social worker—may affect your choices. For example, has your culture influenced the way you think about certain problems, and thus the importance you place on them? How might different members of the Sanchez family view their situations differently, from their own perspectives?
Which theory might help you prepare for your work with the Sanchez family? What other knowledge would be helpful to you in working with the Sanchez family, and how could you seek out and incorporate that information? Think about what you might need to know about immigration policy, effectiveness of substance abuse treatments, and cultural values of Latinx immigrants and their children.
Reflecting on your social work values, what potential value conflicts do you anticipate, working with different members of the Sanchez family? For example, where might a social worker’s values diverge from Celia’s? from Hector’s?
What are the subsystems in this family?
What are the boundaries like between subsystems and for the family as a whole?
How does the family maintain homeostasis?
What roles does each family member take? How are these roles influenced by the family’s particular cultural identity?
What inputs and feedback (positive and negative) are the family receiving? What are the family’s outputs?
Is the family moving toward differentiation, entropy, negative entropy? Why or why not?
Given your assessment, are there areas that might be of concern with regard to the well-being and functioning of this family? At what points might you want to intervene?
What are the strengths and limitations to using systems theory to assess and intervene with this family? How might you compensate for the limitations of the systems theory by eclectically applying another perspective?