SECONDARY MARKETS, BNKG 1358 COURSE MASTER SYLLABUS FINANCIAL MANAGEMENT DEPARTMENT

CIP CODE AREA: 52.0803

COURSE LEVEL: Freshman

COURSE NUMBER: BNKG 1358

COURSE TITLE: Secondary Markets

CREDIT HOURS: 3; Lecture Hours: 3: Lab Hours: 0

PREREQUISITE: RELE 1324 or Departmental Approval

METHOD OF PRESENTATION: Three-hour lecture/discussion each week.

COURSE DESCRIPTION:

BNKG 1358 SECONDARY MARKETS (3-3-0). Study of the purpose of the secondary mortgage market and its history. Included are secondary market conduits, review of the basic strategies used in the selling of closed real estate mortgages into the secondary market, conventional and governmental segments, mortgage-backed securities and bonds, regulatory requirements, GNMA mortgage-backed securities, preparing and completing loans for sale, and servicing sold loans. Other topics included are institutional and non-institutional lenders, types of mortgages, and alternative mortgage instruments. Skills: R Prerequisites: RELE 1324 or department approval. (FNM 2223)

REQUIRED TEXTBOOKS/ MATERIALS:

ISBN	Title		Publisher	Author
157599013X	Handbook Secondary Marketing (1997)	TX	Mortgage Banker	Jess Lederman
1575990699	Secondary Mortgage Market (2000)	TX	MBA of America	Mortgage Bankers

SCANS (SECRETARY’S COMMISSION ON ACHIEVING NECESSARY SKILLS):

Course SCANS Competencies for Secondary Markets, BNKG 1358

Please go to http://www.austincc.edu/mkt/scans.htm#whatis for a complete definition and explanation of SCANS. This list summarizes the SCANS competencies addressed in this particular course.

SCANS Competencies For BNKG 1358
RESOURCES (None For this course)	INTERPERSONAL (None For this course)	INFORMATION 3.1 Acquires and Evaluates Information 3.2 Organizes and Maintains Information 3.3 Uses Computers to Process Information	SYSTEMS 4.1 Understand Systems
TECHNOLOGY (None for this course)	BASIC SKILLS 6.1 Reading 6.3 Arithmetic 6.4 Mathematics 6.5 Listening	THINKING SKILLS 7.3 Problem Solving 7.6 Reasoning	PERSONAL QUALITIES 8.5 Integrity/Honesty

INSTRUCTIONAL METHODOLOGY:

See specific instructor’s syllabus

COURSE RATIONALE:

The purpose of this course is to prepare the student to identify and understand the dynamics of secondary Marketing in mortgage banking. It involves a review of the basic strategies used in selling of closed real estate mortgages into the secondary markets; conventional and government segments; mortgage backed securities and bonds. In addition it looks at GNMA mortgage backed securities and the process, preparing and completing loans for sale and in servicing loans.

This course will help students develop the understanding and skills necessary to become successful in handling loans in the secondary markets. This course integrates all aspects of loans in the mortgage industry.

Secondary Markets is not just about textbook learning; it challenges the student to use their critical and creative skills in all aspects of loan management and loan strategies. The student will become aware of how to apply the knowledge and skills learning in this course to real world situations.

COMMON COURSE LEARNING OBJECTIVES/OUTCOMES

1. State the primary purpose of the secondary market, identify major secondary markets, and define the secondary market significance within the mortgage lending industry
2. Compare and contrast the characteristics of whole loans and participation, certificates, mortgage-backed securities, and mortgage-backed bonds
3. Explain the significance of regulatory requirements, yield calculation, and sales and servicing agreements in buying and selling mortgage loans
4. Differentiate and identify the seven resources to consult when searching for a loan buyer and seller
5. Justify appropriate resources to situations presented
6. Summarize accounting concepts of the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association that directly affect loan servicing activities
7. Chapter objectives that appear in the textbook

GRADING SYSTEM:

Your instructor will provide specific information about how you will be graded in this course.

COURSE POLICIES:

Departmental policies for Incompletes, Attendance, and Withdrawal are as follows:

Incomplete Policy: An incomplete (I) will be granted to a student in rare circumstances. Generally, to receive a grade of I, a student must have completed all examinations and assignments to date, be passing, and have personal circumstances that prevent course completion that occur after the deadline to withdraw with a grade of W.

Attendance Policy: All students are expected to attend classes. Non-attendance will have an impact on the student’s grade.

Withdrawal Policy: It is the student’s responsibility to withdraw from a course. Instructors are allowed to withdraw students but students must not rely on their instructor to withdraw them if they wish to withdraw.

Austin Community College policies for Academic Freedom, Scholastic Dishonesty, Student Discipline, and Students with Disabilities are as follows:

Academic Freedom Statement: Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. These differences enhance the learning experience and create an atmosphere where students and instructors alike will be encouraged to think and learn. On sensitive and volatile topics, students may sometimes disagree not only with each other but also with the instructor. It is expected that faculty and students will respect the views of others when expressed in classroom discussions.

Scholastic Dishonesty Statement: Acts prohibited by the College for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework” (see Student Handbook). Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from lowering a grade on one assignment to an F in the course and/or expulsion from this institution.

Student Discipline Statement: Classroom behavior should support and enhance learning. Behavior that disrupts the learning process will be dealt with appropriately, which may include having the student leave class for the rest of that day. In serious cases, disruptive behavior may lead to a student being withdrawn from the class. ACC's policy on student discipline can be found in the Student Handbook.

Students with Disabilities Statement: Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester” (see Student Handbook).

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