Banks modify more CRE loans than CMBS, contributing to better loan performance when
property incomes decline. However, banks have higher delinquency rates for less-stressed …

In this study, we examine the broader economic effects of the US federal government's
Paycheck Protection Program by focusing on the performance of securitized commercial …

Using real estate investment trusts (REITs) that invest in commercial real estate (CRE) as a
leading example, we study the implications of bank credit lines to nonbank financial …

We show that commercial mortgage borrowers behave opportunistically to attempt to obtain
principal reductions. We develop a model in which lenders cannot perfectly observe …

This paper studies whether financing constraints adversely affect renters by reducing
maintenance. Consistent with a sensitivity of maintenance to financial resources, housing …

This paper investigates the impact of property type and geographical diversification on the
cost of public debt for US real estate investment trusts (REITs). We measure diversification …

The study examines risk-specific determinants of credit spreads and underwriting practices
for non-recourse commercial real estate loans using property and loan characteristics. We …

Rising interest rates and structural shifts in the demand for space have strained CRE
markets and prompted concern about contagion to the largest CRE debt holder: banks. We …

Rising interest rates and structural shifts in the demand for space have strained CRE
markets and prompted concern about contagion to the largest CRE debt holder: banks. We …

We show that commercial mortgage borrowers behave opportunistically to attempt to obtain
principal reductions. We develop a model in which lenders cannot perfectly observe …