commercial-real-estate-loan Books

This book is an excellent introduction to the Commercial mortgage industry. It is up to date and the author makes an effort to state the distinction between the residential and commercial mortgage business. He also touches on important and relevant topics such as the sub prime crises and how it effected the mortgage industry and why people should not be afraid to get involved now, as there is ample opportunity. This is for the layperson, and he describes the nuts and bolts of the industry very well. Gineris also makes it easy for the reader to understand the vocabulary and concepts so inherent to the industry. He gets into lending, borrowing, commercial mortgage-backed securities, etc. Albeit, a strong income potential can be realized in a relatively short period of time (comparatively speaking), this is not a get rich quick scheme. But for those who work hard, smart and take this business seriously, one can make physician level income and have a lot of fun doing it.

The VAST majority of the 5 or 4 star reviews are by people with only ONE review - this book. Hmmm... as another not so generous reviewer said, this is a good reference book for terms, not a good one for deal structuring - which is a fundamental part of the whole of process.....

The book is OK but I was looking more for examples of structured deals and how to do deals. This is more of an encyclopedia of commercial real estate terms. If this is what you're looking for great. If you're looking for how to do deals and how to put deals together this ain't it.

This is a great little book that covers the basics from an experienced insider... It has a broad overview of the industry, discusses the basics of the different things an investor needs to know, some great tips on how things work and enough detail to get a new investor going successfully.

I have invested for a while and have found the book valuable in filling some of the information that I have guessed about... I wish I had this book before starting. Thanks to the author for answering my questions in a clear and concise manner.

Finally, a book that is written for those not necessarily experts in the field. The author makes all the applications very understandable. Well written, clear and concise. Thank you Mr. Morse.

This book explains commercial real estate very well. It is an easy read but is very informative. I really like all of the calculations it gives in regards to the time value of money. Very helpful!!

The loss numbers on mortgage fraud as reported in this article, published in 1995, pale if compared to those just ten years later. The author gives a quick summary of the ramifications of mortgage fraud on the mortgage and financial industry at that time, and as such is a good introduction for those readers who are engaged in a serious research into mortgage fraud, including its history and methodologies used by financial institutions to detect its presence.

The most interesting fact that one can extract from the article is that technology is playing a major role in assisting mortgage fraudsters in their crimes. Alteration of documents and falsification of verification letters are just two examples of what can be done with the desktop publishing equipment of the time, writes the author.

The "look the other way" philosophy of lending that has caused the gargantuan losses in the financial institutions at the present time was just getting started back in 1995. The author quotes that "if wholesalers aren't running into fraud, they are intentionally not seeing it". Due diligence was only beginning to get pushed to the side, replaced with a lending philosophy that preached that it was only the volume of loans that was important. Loan applications traditionally viewed as bad were still given a stamp of approval, with the excuse given that the risk in these loans was going to be hedged by subprime credit derivatives or some other sophisticated form of hedging.

Mortgage brokers engaged in fraud naturally take a hit in this article, as well they should, considering their behavior then as now. They have tainted themselves and the industry, and their continued exposure and prosecution is a must not only for the mortgage industry but because it is plain right to do so.

The author devotes a fair amount of space to discussing the technological tools for detecting mortgage fraud that were in development or in use at the time of publication. Most of these tools emphasized cross checks into databases that enabled lenders to check for fraudulent application entries. Since 1995, there has been an explosion of technological tools in both research and development and on the market for detecting mortgage fraud. Many of the companies marketing these tools have made extraordinary claims on their efficacy and accuracy.

The author does not address these claims, and an astute reader familiar with the technology that goes into these tools may wonder if they are even close to being accurate. Are these firms exaggerating or even deliberately falsifying the data that is given to support the accuracy of their mortgage fraud detection tools? The author seems willing to accept the efficacy of these tools, and does not ask whether their vendors are engaged in blatant misrepresentation (fraud) regarding their products. This is not merely an academic question, as many financial institutions, and government organizations such as the FBI, are using these tools to assist them in finding mortgage fraudsters. Vendors were not subject to any oversight or regulation in 1995 nor are they at the present time.

As an example of this, one vendor announced in August 2005 on the release of their product that it "includes the most robust third party enrichment data sources overlaid with a leading-edge suite of models and algorithms including decision trees, neural networks, and linear and logistic regression analysis tools." The problem with this statement is that it is blatantly false. This reviewer knows with certainty that this product does not use decision trees or any of the other tools from artificial intelligence and mathematical statistics that are mentioned in the quoted statement. Therefore as stated it is not true, and was apparently put in for marketing purposes so as to increase the firm's financial gain, just as some mortgage brokers and loan applicants put in false statements for their own financial gain. It would seem that some of the hucksters of fraud detection have become fraudsters themselves.

In spite of these omissions and the author's naivete about the claims of these vendors, the article is still a good one, and should be put into the context of current events. Ethical considerations alone dictate extreme due diligence when it comes to mortgage fraud, and this goes for the applicant, the loan officer, the mortgage title company, and the vendors of mortgage fraud detection software. Fraud should be exposed wherever it occurs, and swift action should be taken against those who practice it.

I work as a residential loan officer for a bank and I am currently looking to expand my business into the commercial lending area. Therefore I was searching for a book on the topic that would give a basic outline on the different ratios required when qualifying a prospect. I think Mr. Dupuy accomplishes this in a very readable format. He very simply explains everything from debt service coverage ratio to the cap rate. I don't think anyone is going to buy the book and broker a commercial deal in a week, but it give the reader the nuts and bolts of a fascinating industry.

This is a great introduction to commercial mortgage brokering. I have been looking for a book like this for a long time. There are not too many books that give you details about brokering commercial loans, so I was extremely happy when I found it. Very fast and easy read. Covers the details of different asset classes, some marketing strategies and a little motivation.

There are few books that discuss commercial mortgage brokering and I had high hopes for this one. Sadly, it was of little help for anybody entering the business. I don't recommend it, you're better off saving your money and researching the internet for free. There isn't much online either, but at least you don't have to pay for it. An earlier reviewer states that you need to be licensed in order to do commercial loans, that is not correct. A license is only required in two states for commercial loans. You do however need to be licensed to broker residential loans.

This book is so light on content, that it should really be titled: "Just send me the money to finance my sail boat and I don't care if you read it".

It features very basic description of the benefits of what commercial lending can do for you full of general staff and platitudes, extensive bragging by the author and constant offers to submit your next loan through his company. The majority of the book space is taken by IDENTICAL analysis points for different types of properties, like multifamily, office, retail, storage, etc. He just carboned copied about 100 pages of text with very minor modifications. Probably took him about 2 minutes to write that part of the book. Throughout the book the author referrs to a Resource CD that supposedly came with the book, and yet, the book doesn't even have a CD holder or pocket where he would actually put the CD. The book is full of spelling, grammar and all other types of errors.

Overall, it seems that the author was trying to write a book over a weekend before his next vacation, and didn't really bother to check his spelling, content of the book, or any other staff that was supposed to come with the book. His goal was just to make some easy money and push the readers towards using his company for loan submission. I don't think so. If the guy is so sloppy with this book, imagine how sloppy he will be with your next $1mln loan!