A history of mortgage banking in the West : financing America's dreams

Part economic history, part public history, A History of Mortgage Banking in the West is an insider's account of how the mortgage banking sector worked over the last 150 years, including analysis of the causes of the 2007 mortgage crisis. Beginning with the land and railroad development acts that encouraged settlement in the west, E. Michael Rosser and Diane M. Sanders trace the laws, institutions, and individuals that contributed to the economic growth of the region. Using Colorado and the west as a case study for the nation's economic and property development as a whole since the late nineteenth century, Rosser and Sanders explain how farm mortgages and agricultural lending steadily gave way to urban development and housing mortgages, all while the large mortgage and investment firms financed the development of some of the state's most important water resources and railroad networks. Rosser uses his personal experience as a lifelong practitioner and educator of mortgage banking, along with a plethora of primary sources, academic archives, and industry publications, to analyze the causes of economic booms and busts as they relate to real estate and development. Rosser's professional acumen combined with Sanders's research experience makes A History of Mortgage Banking in the West a rich and nuanced account of the region's most significant economic events. It will be an important work for scholars and practitioners in regional and financial history, mortgage market practice and development, government housing and mortgage policy, and financial stability and of great significance to anyone curious about the role of the federal government in national housing policy and the inherent risk in mortgages. "Contents"--"Acknowledgments" -- "Acronyms" -- "Preface" -- "Part I: Westward Expansion and Early Mortgage Banking Development" -- "One. Westward Ho!" -- "Two. Overview of Banks and Mortgage Banking in the United States" -- "Three. Mortgage Banking in Early Colorado" -- "Part II: Mortgage Banking in a Modern Financial Network" -- "Four. Thrifts, Trusts, and Title Companies as Participants in the Mortgage Market" -- "Five. Mortgage Bankers, Insurance Companies, Real Estate Companies, and the Correspondent System" -- "Six. Early Twentieth Century Urbanization and Associationalism" -- "Part III: Government Housing Programs and the Evolution of Mortgage Banking" -- "Seven. The Federal Housing Administration and the Housing Act of 1934 and Beyond" -- "Eight. Government-Sponsored Enterprises, 1916â#x80;#x93;1968" -- "Nine. The Colorado Housing and Finance Authority" -- "Ten. The Age of Great Developers and Changing Land Uses" -- "Eleven. The Mortgage Bankers Association from the Postwar Era into the New Millennium" -- "Part IV: The Crisis of 2007â#x80;#x94;Background, Causes, and Lessons" -- "Twelve. Government-Sponsored Enterprises after 1968: Public-Private Ownership, Control, and Political Impacts" -- "Thirteen. The Housing Bubble (That Wall Street Built) Burst" -- "Fourteen. Observations and Lessons Learned (or Not)" -- "Epilogue" -- "Appendix A: FHA Mortgage Insurance Programs" -- "Appendix B: Colorado Foreclosure Hotline" -- "Appendix C: Letter to Aksel Nielsen from President Dwight D. Eisenhower" -- "Appendix D: GSE Affordable Housing Goals, 2000â#x80;#x93;2003" -- "Glossary of Mortgage and Real Estateâ#x80;#x93;Related Terms" -- "Bibliography" -- "Suggested Reading." Westward ho! An overview of banks and mortgage banking in the United States Mortgage banking in early Colorado Thrifts, trusts, and title companies as participants in the mortgage market Mortgage bankers, insurance companies, real estate companies, and the correspondent system Early twentieth century urbanization and associationalism The Federal Housing Administration and the Housing Act of 1934 and beyond Government-sponsored enterprises, 1916-1970 The Colorado Housing Finance Authority The age of great developers and changing land uses The Mortgage Bankers Association from the post-war era into the new millennium Government-sponsored enterprises after 1968: public-private ownership, control, and political impacts The housing bubble (that Wall Street built) burst Observations and lessons learned (or not). Westward ho! -- An overview of banks and mortgage banking in the United States -- Mortgage banking in early Colorado -- Thrifts, trusts, and title companies as participants in the mortgage market -- Mortgage bankers, insurance companies, real estate companies, and the correspondent system -- Urbanization and public-private cooperation -- The Federal Housing Administration and the Housing Act of 1934 and beyond -- Government-sponsored enterprises, 1916-1970 -- Colorado Housing Finance Authority -- The age of great developers and changing land uses -- The Mortgage Bankers Association from the post-war era into the new millennium -- FNMA : public-private ownership, control, and political impacts after 1970 -- The housing bubble (that Wall Street built) burst -- Conclusions and lessons learned (or not) "How the mortgage banking sector worked in the second half of the twentieth century, including analysis of the 2007 mortgage crisis. Beginning with the land and railroad development acts that encouraged Western settlement, traces the laws, institutions, and individuals that contributed to economic growth of the region"--Provided by publisher.