Understanding Residential Real Estate Finance

It is estimated that 35% of sub-prime residential loans, more than a trillion dollars worth, originated between 2002 and 2007 could have or should have been originated as conforming, qualifying loans. During that period millions of borrowers received loans with inferior terms relative to their credit profiles. Financial literacy on the parts of the borrowing public and the lending community has all too often been absent. In Understanding Residential Real Estate Finance, author Patrick Mansell explains in simple terms those areas with which the public should be familiar in order to achieve the best results in a mortgage transaction. A consumer familiar with these concepts can expect to save many thousands of dollars and avoid costly errors when looking to finance or refinance a residential mortgage loan.

Author Patrick Mansell entered the Mortgage Banking business in 1969. He has been involved in residential loan originations and the structuring of mortgage servicing transfers since co-founding his own mortgage banking firm in 1978. Mr. Mansell is a graduate of the University of Miami and holds the Mortgage Bankers of America's highest designation, Certified Mortgage Banker (CMB).

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