Bonds for Beginners: An Instructional Guide to the Key Concepts of Tax-Exempt Housing Bond Finance
By Mtumishi St. Julien, Ernestine Garey, Olson Lee and Michael G. McMahon
2nd Edition, April 2008
NALHFA Member. . . . . . . . . . . . $32.50
Non-Member. . . . . . . . . . . . . . . $40.00
6 or more Copies
NALHFA Member. . . . . . . . . . . . $27.50
Non-Member. . . . . . . . . . . . . . . $35.00
The best selling Bonds for Beginners has just gotten better. Now in its second edition, Bonds for Beginners is an essential tool for professionals financing affordable housing. This edition contains new information on underwriting, issuing, mortgage credit certificates, and compliance-monitoring of tax-exempt multifamily bonds.
Bonds for Beginners is a good orientation tool for new board members and employees of housing finance agencies, public housing authorities, community development agencies and non-profit organizations involved in financing affordable housing.
This guide provides individuals with a good foundation of knowledge, so they can work more successfully with agency professionals and staff. Most importantly, Bonds for Beginners is written in clear, easy-tounderstand language that is concise, while still addressing the important technical nuances of housing bond finance.
Chapter Overviews (Each chapter includes a Summary and Learning Questions):
- Bonds & Yields: Overview of a bond and how to measure interest and yield
- Credit Worthiness: The basic process for determining credit worthiness
- Issuing Bonds: The bond issuing process and how the bonds are repaid
- Selling Safety & Quality: How issuers make bonds more attractive to the bond market
- Housing Bonds: The conditions under which housing bonds can be issued
- Playing the Market: What happens to bonds in the market after they are issued
- Default Watching: The issuer’s duty to monitor their bond issues
"This is a particularly valuable book, which we have used with staff and elected officials’ offices to understand how revenue bond financing works.”
Department of Community and Economic Development
Ramsey County, Minnesota