By Robert J. Bond, John Fesler, Rick Boone
This hugely functional actual property finance publication displays the present prestige of the genuine property monetary marketplace. whereas the first concentration is on genuine property financing rules and practices in California, it additionally examines the most recent advancements in actual property financing together with the hot nationwide personal loan personal loan officer licensing legislation. This re-creation simplifies the more and more complex features of actual property lending and the hot legislative mandates. clients will examine the impression present monetary markets have at the genuine property transaction and achieve an realizing of a few of the varieties of creditors; kinds of financing suggestions; the method of a personal loan; and customary personal loan difficulties.
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Extra info for California Real Estate Finance, 9th Edition
Primary borrowing is usually for the purpose of avoiding having a bank’s reserves dip below the required minimum. The rate charged for this overnight borrowing is called the discount rate. The term “banker’s bank” is used to describe the relationship of the Federal Reserve Bank to a member bank. The discount rate is not to be confused with the so-called prime rate (rate given to a bank’s most favored corporate borrowers) that is charged by commercial banks. 4. The higher the Fed’s discount rate charged to the bank, the more likely a higher interest rate will be charged by the bank to the real estate borrower.
S. government bonds. Cash value of life insurance. Preferred and common stocks on organized exchanges. Money market mutual funds. The following items operate like money but are forms of credit: 1. Personal credit cards (“electronic IOUs”). Not debit cards, which are merely a way to access funds in a checking account. 2. Bank-allowed overdrafts (ODs). 3. Credit reserves. 4. Home equity lines of credit. Money and credit are frequently used interchangeably—but they are not the same. Money means currency and checking accounts, while credit consists of loan funds or savings that a saver or lender makes available to a borrower.
Government to borrow more, driving up interest rates, which in turn tends to fan the flames of inflation. Inflation occurs when prices for goods and services increase, usually from too much money chasing too few goods. The net result of inflation can be a mixed blessing to real estate owners and licensees. Real estate values usually keep up with—and very often exceed—the rate of inflation. However, inflation drives up the cost of housing and interest rates, which can prevent some people from acquiring homes.