The Handbook of Commercial Mortgage-Backed Securities
Frank J. Fabozzi Series
2. Edition September 1998
520 Pages, Hardcover
Wiley & Sons Ltd
The Handbook of Commercial Mortgage-Backed Securities is a
cornerstone reference in this emerging sector of the structured
finance market. This Second Edition provides updated coverage of
the market, the instruments, the tools used to assess these
securities, and tax accounting issues.
In addition to an overview of the commercial real estate finance
and commercial property markets, this book also covers
property-market framework for bond investors, the role of the
servicer, an investor's perspective on commercial mortgage-backed
coupon strips, defaults on commercial mortgages, assessing credit
risk, an options approach to valuation and risk analysis, legal
perspectives on disclosure issues, and federal income taxation.
List of Advertisers.
SECTION I: BACKGROUND.
1. The CMBS Market: Past, Present, and Future (G. Gichon).
2. A Property Market Framework for Bond Investors (P.
Corcoran).
3. Commercial Mortgage Default Rates and Loss Severity (R.
Pelletier and A. Rudenstein).
SECTION II: CMBS AND STRUCTURING ISSUES.
4. Commercial Mortgage-Backed Securities (J. DeMichele and W.
Adams).
5. An Investor's Framework for Modeling and Analyzing CMBS (R.
Trepp and J. Savitsky).
6. Structural Considerations Impacting CMBS (J. Dunlevy).
7. How CMBS Structuring Impacts the Performance of the Bond Classes
(D. Jacob and L. Tong).
8. Understanding Prepayments in CMBS Deals (D. Cheng, et
al.).
9. Investing in Subordinate CMBS Bonds (J. Mathew and E.
Katz).
SECTION III: RISK ANALYSIS.
10. CMBS: Developing Risk Management for a New Asset Class (M.
Reilly and B. Golub).
11. Evaluating the Risk of Commercial Mortgage-Backed Securities
(G. Pappadopoulos and J Fisher).
12. Rating of Commercial Mortgage -Backed Securities (J.
Franzetti).
13. Assessing Credit Risk of CMBS (P. Corcoran and D. Kao).
14. Credit-Diven Prepayment and Default Analysis (M. Ervolini, et
al.).
15. Understanding and Managing the Balloon Risk of Commercial
Mortgages in CMBS (D. Jacob and P. Fastovsky).
SECTION IV: VALUATION AND RELATIVE VALUE ANALYSIS.
16. A Framework for Risk and Relative Value Analysis of CMBS:
Theory (D. Jacob, et al.).
17. A Framework for Risk and Relative Value Analysis of CMBS:
Practice (D. Jacob and G. Gichon).
18. An Options Approach to Commercial Mortgages and CMBS Valuation
and Risk Analysis (D. Jacob, et al.).
19. A Monte Carlo Default Pricing Model for CMBS (G.
Pappadopoulos).
20. An Investor's Perspective on Commercial Mortgage-Backed Coupon
Strips (K. Gollenberg).
21. High Yield Commercial Mortgage-Backed Securities (D. Jacob and
G. Gichon).
SECTION V: ACCOUNTING, TAXES, AND LEGAL ISSUES.
22. The Role of the Trustee (S. Davis, et al.).
23. Performing Financial Due Diligence Associated with Commercial
Mortgage Securitizations (D. Baranick and S. Quraishi).
24. Generally Accepted Accounting Principles for Issuers of and
Investors in CMBS (D. Baranick and R. Bennett).
25. Federal Income Taxation of REMICs and CMBS (J. Ferst and M.
Miyashiro).
Index.
