Author Description

While the fifth edition has been completely modernized, the coverage order and basic organization remain identical to previous editions. The real estate market is generally much healthier than it was in 1992 when the last edition was completed. The disastrous contraction of the savings and loan industry seems now to have been completed, and in this edition the authors highlight the reasons for the industry's collapse and the advent of the new regulatory structures that resulted. Mortgage loans are increasingly being "securitized" to provide better and more competitive access to capital, and the discussion of the corresponding legal issues has been enlarged. In addition, Congress has given much-needed attention to the liability of lenders for contamination of real estate by hazardous waste. The authors have given these matters expanded and updated treatment. Finally, the cases have been edited liberally to focus on the significant mortgage law issues.