SCHOOL OF MORTGAGE & FIXED-INCOME MARKETS

IHORUS

University

A graduate program that begins at the root and ends in work that is yours to defend. Every figure on the terminal is a shadow cast by something older: you learn to follow it back to its source, to say why it moved, and to stand behind your reading before those who are paid to doubt it: the regulator, the auditor, the committee.

VISIO · RATIO · INTEGRITAS

Ad rosam per crucem ad crucem per rosam

Explore the curriculumPlan your paceOpen the Terminal
The Program

See clearly. Reason rigorously. Act with integrity.

The curriculum follows the classical arts: grammar, logic and rhetoric first, then number, then the craft of the market. Each stage carries an Egyptian archetype and a stage of the hero's journey, so you always know where you are and what the work is for. Every course has a Terminal Lab (with a public-data route), a maxim, a weekly checklist and a trial to pass.

Compute & Verify

Yields, durations, convexity, spreads and OAS from first principles, then check the terminal's figures against your own.

Markets & Mechanics

Term structure, Fed transmission, TBA trading, dollar rolls, agency programs and how a rate sheet is built from a TBA price.

Model & Hedge

Build and critique prepayment, hedging and pricing models, and state their limits.

Account & Comply

GAAP, tax and consumer-finance regulation applied at a CPA-defensible level.

Engineer Trustworthy Data

Provenance, reconciliation, caching and audit trails for market-data systems.

Govern & Act Ethically

CFA Institute Code and Standards plus an enforceable model-risk and data-governance policy.

How to use this page

  1. Place yourself. Take the diagnostic under Practice. It recommends which Foundation modules to take and which to test out of.
  2. Set your pace. In Pathway, enter your weekly hours and start date. The planner gives a finish date and a calendar file.
  3. Run the week. Open Today in the dashboard. Do the next unchecked week, the Drill, and your canon passage.
  4. Prove it. Tick the can-do statements only when you can do them with the book closed. Complete the trial for each course.
  5. Pass the gates. At each stage end, check readiness for the exam or gate in Credentials, then move on.
  6. Stuck? Return to the previous course's can-do list, ask what you can not yet do, then use the Glossary and the Drill on that topic.

A study week (nine hours per course)

Two hours of lecture or video, three of reading, two of problems, one of lab, one of canon and reflection. Study in seven fixed blocks, never one long session. Use retrieval practice: close the book and write what you remember before checking.

Keyboard: / filter courses, Ctrl/Cmd+K search everything, ? shortcuts, Esc close.

Two tracks

Standard Track: the Foundation Term plus the 14 core courses, 45 credits, two comprehensive exams and a defended capstone. Distinction Track: the same, plus three courses from one concentration, 54 credits, with the concentration named on the certificate. MLO 150 is an optional no-credit module for anyone who needs a mortgage loan originator license. Pick your track in the Distinction Track section of the curriculum.

ConcentrationChoose three of these fourBuilt for

The Mastery Standard

No program can honestly promise a percentile of intelligence. What this one can promise is nine things you will be able to demonstrate, with evidence, that most practitioners take years to acquire and few can document.

StandardYou canEvidence

Prerequisites: the Foundation Term covers them from zero; the diagnostic tells you what you can skip. Grading: problem sets 20%, labs 20%, midterm 20%, final 40% unless stated; B- is the minimum for core courses.

Studies in Number

The Notebook

Three plates in the manner of a master's notebook, each drawn from arithmetic the courses teach. The figures are computed from the stated assumptions and are illustrations, not market data. The mirror-written lines in the margins are decorative.

2%4%6%8%10%70100130par at 5%price of the bondduration: the straight linewith convexity addedwhat duration alone missesyieldIPrezzo e rendimento
I. Price and yield. A 10-year bond with a 5% annual coupon, priced at par. Its modified duration is 7.72 and its convexity 75.0. The straight line is the duration estimate; the dashed curve adds convexity. The hatched sliver between them is the part duration misses.
1102030year of the loaninterestprincipalIIIl piano di ammortamento
II. Amortization. A 30-year fixed loan at 6.50%. Each column is one year of level payments; the hatched part is interest. In year 1 about 85% of payments go to interest, in year 30 about 3%. Over the full term the interest equals about 128% of the amount borrowed.
1×2×4×8×one turn = one doublingthree turns ≈ 31 years at 7%IIILa spirale del tempo
III. Compounding. A steady 7% a year doubles money about every 10.2 years (ln 2 ÷ ln 1.07). Each turn of the spiral is one doubling, so three turns is roughly 31 years and eight times the start.

Your progress

+

Electives

3 credits each
ElectiveFocus & Resource
The Great Conversation

The Canon Track

Every course is paired with a primary text. Finance is a set of answers; the canon is where the questions were first asked well. The core works (about one per course) are required; "go deeper" works are optional. Mark each read as you finish.

The Hermetic & Egyptian Shelf

Read this first. This shelf treats Egyptian religion, the Hermetic tradition and the modern motivational literature as intellectual history and as contemplative literature. It does not claim that any occult doctrine is true, and nothing here is financial guidance. Where a text is modern but presented as ancient, the entry says so. Start with Hanegraaff's guide; it teaches how to read the rest.

How the great curricula organize reading

Practice

Prove it to yourself

Retrieval beats re-reading. Use the diagnostic to place yourself, the Drill to build fluency on the calculations, and the readiness checklists to decide whether you are ready for an exam or gate.

Pathway

Your pace, your calendar

The Standard Track is 1,890 hours of credit work (45 credits at nine hours a week for 14 weeks per three credits) plus 230 hours of Foundation. The Distinction Track adds 378 hours (three more courses), and the optional licensure module adds about 60. Pick the weekly hours you can keep; the planner does the rest.

The weekly rhythm

2hLecture or video
3hReading
2hProblems
1hTerminal lab
1hCanon & reflection
Professional Alignment

Credentials & Graduation

Alignment is by topic only. The program is not exam prep and does not guarantee a pass on any exam or credential.

CredentialAligned courses
The Grammar

Glossary

Every term you will meet, defined once. Search it, or let it quiz you.

The Library

Master Reading List

The textbook canon: read first, in this order. Book links open a catalog search so you can pick the edition and the library, borrow or retailer that suits you; confirm the current edition before buying.

Primary Documents & Data Methodology

Read before trusting any number.

Context & History

How to get everything without paying

Reference

Currency log

Facts that change. Re-verify each one at its source before relying on it.

ItemAs ofCheck at

Link health. Outside sites change. Run ihorus_link_check.py (shipped with this file) on your own computer to test every link. Review content each January and July.

↑ ↓ moveEnter openTab next listEsc clear / close

Settings

How the page looks, and how your progress is kept.

Appearance

ThemeShared with the Terminal.
Text sizeMakes the whole page larger or smaller.
100%
LayoutMobile view uses the phone layout at any screen width, with larger text and buttons and calmer effects.

Your progress

Saved in this browser onlyProgress saves as you go. Keep a backup file in case this browser is ever cleared.
Saved

Shortcuts

/ focus the course filter
Ctrl/Cmd+K search everything
T open Today
? this help
Esc close a panel