Real Estate Finance
Class Assignments

Winter Semester 2014

Tuesday, January 21: Read Casebook pages 99-106, 110-116, 962-976, the New York Daily News article that appears along with the discussion questions for this material, and the Missouri Fannie/Freddie Single-Family Deed of Trust form. Click here for discussion questions for this material.

Wednesday, January 22: Continuation/completion of Tuesday's assignment, focusing specifically on Fannie/Freddie, their role in the mortgage market, and questions about the Fannie/Freddie single-family residential deed of trust form.

Monday, January 28; Tuesday, January 29: Pages 358-404 (Theories of Mortgage Law; Rents and Leases of Mortgaged Property and Security in Rents; Receivership). Click here for discussion questions for this reading assignment.

Wednesday, January 30 (Skills Training students only): Discussion of Assignment of Rents/SNDA forms (distributed by separate e-mail)

Monday, February 3: Complete pages 358-404 (Theories of Mortgage Law; Rents and Leases of Mortgaged Property and Security in Rents; Receivership). Click here for discussion questions for this reading assignment.

Tuesday, February 4 and Wednesday, February 5. Class Meetings Postponed (Weather)

Monday, February 10. After completing some final discussion of the material on receivership from the prior reading assignment (focusing on the Dart case on page 393), we will discuss pages 404-412 (Waste). Click here for discussion questions for this reading assignment.

Tuesday, February 11. Pages 424-446 (Casualty Insurance; Real Estate Taxes; Escrows for Insurance and Taxes). Click here for discussion questions for this reading assignment.

Wednesday, February 12 (Skills Training students only): Complete discussion of Assignment of Rents/SNDA forms (distributed through prior e-mail); address questions on Skills Exercise #1

Friday, February 14 (Skills Training students only): First Skills Exercise due, 6:00 pm

Monday, February 17 and Tuesday, February 18: Complete pages 424-446, then begin pages 447-483 (Transfer of the Mortgagor's Interest; "Subject to" vs. "Assumption"; Due-on-Sale Clauses and the Garn-St. Germain Act). Click here for discussion questions for this reading assignment.

Wednesday, February 19 (Skills Training students only). Debrief Skills Exercise #1; discussion of "nonrecourse" mortgage notes and "carve-outs" for waste and other "bad acts" (forms to be distributed in class on February 12); distribution of Skills Exercise #2.

Monday, February 24. After completing pages 468-483 (Due-on-Sale Clauses and the Garn Act), we will begin pages 543-568 (Discharge, Payment, Prepayment, Late Fees). Click here for discussion questions for this reading assignment.

Tuesday, February 25 (make-up for Tuesday, Feb. 4, so class will meet from 12-2). Complete pages 543-568, then begin pages 586-607 (Default and Acceleration). Click here for discussion questions for this reading assignment.

Wednesday, February 26 (Skills Training students only). Complete carryover discussion of nonrecourse carveouts. Discuss payoff letters, and prepayment provisions.

Monday, March 3. Pages 586-607 (Default and Acceleration). Click here for discussion questions for this reading assignment.

Tuesday, March 4. Pages 614-632 (Strict Foreclosure and Judicial Foreclosure). Discussion Questions for this reading assignment.

Wednesday, March 5 (Skills Training students only). Carryover discussion of prepayment provisions as well as acceleration/anti-waiver clauses and lender-borrower communication in the default/workout context.

Monday, March 10. Complete previous reading on Judicial Foreclosure, then begin pages 641-673 (Nonjudicial Foreclosure). Discussion Questions for this reading assignment.

Tuesday, March 11. Nonjudicial Foreclosure (pages 641-673).

Wednesday, March 12 (Skills Training students only). Debrief Skills Exercise #2. Follow-up discussion on foreclosure material and nonjudicial foreclosure in Missouri.

Monday, March 17. Complete any remaining discussion of Nonjudicial Foreclosure (Pages 641-673), then begin pages 700-730 (Application of Sale Proceeds; Statutory Redemption; Lien Revival Following Redemption or Reacquisition by Mortgagor)

Tuesday, March 18. Pages 700-730, then begin pages 730-736 (Deficiency Judgments) and the First Bank v. Fischer & Frichtel case (Missouri's most recent case on deficiency judgments).

Wednesday, March 19 (Skills Training students only). Missouri nonjudicial foreclosure procedure. Skills Assignment #3 distributed (due Sunday, April 6).

March 24-28. Spring Break (No class meetings)

Monday, March 31. No class meeting (make-up date TBA).

Tuesday, April 1. Pages 730-736 (Deficiency Judgments) and the First Bank v. Fischer & Frichtel case (Missouri's most recent case on deficiency judgments), then pages 574-585 (Deeds in Lieu of Foreclosure and "Short Sales"). Discussion Questions for pages 574-585.

Wednesday, April 2 (Skills Training students). Continue with Missouri nonjudicial foreclosure procedure; follow-up on deeds in lieu of foreclosure and short sales.

Monday, April 7. Pages 272-293 (Equitable Mortgages). Discussion Questions for pages 272-293.