Secondary Market Residential Mortgage Transactions: Business and Legal Strategies

Author: Karen Gelernt
Format: Looseleaf manual with CD
Price: $525
Plus shipping and handling.
Sales Tax: for NY, TX, DC, CT orders only.

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Are you taking full advantage of the opportunities in the secondary market for residential mortgage transactions? Do you wish you had one resource for keeping up with the legal ins and outs of this complex area?

Now you can get the business and legal strategies you need from A.S. Pratt & Sons. Secondary Market Residential Mortgage Transactions: Business and Legal Strategies is the most comprehensive guide available for buying and selling mortgages in the secondary market. Whether you are currently active in the secondary market, or just looking to get in, this manual and accompanying CD cover everything you need to know-

All stages of the transaction process, including precontractual issues, the sales agreement, closing, and servicing.
Every type of loan, including subprime, FHA-insured, VA-guaranteed, cooperative, second lien, "scratch and dent," and sub-performing and non-performing mortgage loans.
Negotiating strategies that could make your transactions more profitable.
Legal analysis and guidance, plus extensive commentary, sample documents, and case discussion.

Organized by Type of Transaction
The manual is organized by the type of transaction, to make it easy for you to find the guidance you need, quickly:

Chapter 1: The Mortgage Banking Industry and the Product
Chapter 2: Laws Governing the Mortgage Banking Business
Chapter 3: Precontractual Issues
Chapter 4: The Sales Agreement
Chapter 5: Special Provisions for Different Types of Assets
Chapter 6: The Closing
Chapter 7: The Correspondent Arrangement and Flow Agreement
Chapter 8: Wholesale Lending Transactions
Chapter 9: The Servicing Agreement
Chapter 10: Purchasing and Financing Servicing Rights
Chapter 11: Purchasing and Financing of Servicing Receivables
Chapter 12: Alternative Vehicles for Expanding the Business of Mortgage Banking
Chapter 13: New Electronic Initiatives and Media

Easily Customized Sample Documents
Included in the appendixes are a number of important model documents that can be easily customized using the accompanying CD to suit your needs.

TILA Disclosure Statement
Model NAMB/MBAA Yield Spread Premium Disclosure
Notice of Possible Transfer of Servicing
HUD-1/1A Settlement Statements
Notice of Transfer of Servicing
Lead Paint Disclosure
Security Release Certification
Broker Agreement
Freddie Mac Acknowledgment Agreement
Electronic Tracking Agreement

Practical Guidance from an Experienced Author

Karen Gelernt is a partner resident in the New York office of Cadwalader, Wickersham & Taft. Her principal practice involves the representation of domestic and foreign banks, investment banks, and other financial institutions in a variety of mortgage banking and financing transactions.

Her client representations have included the purchase and sale of residential first and second performing, subperforming, and nonperforming mortgage loans and servicing (including Federal Housing Administration, Veterans Administration, conventional, and manufactured housing), commercial (including franchise loans) and multifamily mortgage loans in whole loan and participation structures.

In addition to her mortgage banking practice, Ms. Gelernt devotes a substantial amount of time to structuring and negotiating warehouse lines and repurchase agreements involving such diverse assets as mortgage assets (including residential, multifamily, and commercial mortgage loans), sub-prime residential mortgage loans, home equity loans, cooperative loans, home improvement loans, home equity revolving lines of credit, non-performing residential and commercial mortgage loans, real-estate owned properties, franchise loans (including franchises such as convenience stores, gas stations, quick service restaurants, funeral homes, car washes), preferred equity, mezzanine loans, student loans, loan receivables, airplane loans, boat loans, equipment leases, loans secured by congregate care facilities and nursing homes, various government insured and guaranteed loans (including FHA, VA, SBA, FmHA, and FFELP loans), commercial and residential securities, subordinate and residual securities, government guaranteed securities, tax liens, interests in lottery winnings, credit card receivables, Chapter 13 Payment Plan receivables, participation interests, and servicing rights to mortgage loans. In addition, she has had experience working on debtor-in-possession financings and financing involving nonprofit borrowers, investment funds, and REITs.