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- Page 1 and 2: Commercial Mortgage Delinquency, Fo
- Page 3 and 4: Perhaps the most compelling reason
- Page 5 and 6: contemporaneous loan-to-value ratio
- Page 7 and 8: national lenders, of which the data
- Page 9 and 10: Whenever a property appraisal is pe
- Page 11 and 12: loans and the highest value for for
- Page 13 and 14: atio, debt coverage ratio and guara
- Page 15: ReferencesAmbrose, Brent W., Buttim
- Page 19 and 20: Table 3Independent Variable: Ever D
- Page 21 and 22: Table 4b - Loan OutcomeNever Delinq
- Page 23 and 24: 1 IntroductionCommercial mortgages
- Page 25 and 26: Based on the results from the first
- Page 27 and 28: An early paper about the empirical
- Page 29 and 30: 4 DataIn order to test the multiple
- Page 31 and 32: To derive the excess returns, the r
- Page 33 and 34: examining bond returns. Second, sin
- Page 35 and 36: significant for 3 series. The growt
- Page 37 and 38: ReferencesBlack, Fischer; Jenson, M
- Page 39 and 40: Ibbotson, R. G.; Siegel, L. B.; Rea
- Page 41 and 42: Appendix 1 - Unsmoothing Real Estat
- Page 43 and 44: Figure 1Commercial Mortgage Returns
- Page 45 and 46: Table 1 - List of FactorsVariable D
- Page 47 and 48: Table 3 - CorrelationsReturn Series
- Page 49 and 50: Table 5 - Test for Equality of Coef
- Page 51 and 52: Table 6b - Estimation results for S
- Page 53 and 54: Table 7 - Estimation results for Bo
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