Handbook of Commercial Mortgage-Backed Securities [Hardcover]

Frank J. Fabozzi (Editor), David P. Jacob (Editor)

Book Description

Publication Date: January 1997

In addition to an overview of the historical background of commercial real estate finance and commercial property markets, this reference provides an up-to-date examination of evolving GAP principles for users and investors in CMBS. It then moves on to give a framework for risk and relative value analysis of CMBS and an option-based approach to valuing details and prepayment risk in CMBS. Additional topics include: performing financial due diligence associated with commercial mortgage securitization; legal perspectives on disclosure on the bond structure of CMBS; and federal income taxation of RELICS and CMBS.

Editorial Reviews

From the Back Cover

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. --This text refers to an alternate Hardcover edition.

About the Author

Frank J. Fabozzi is a financial consultant, the editor of the Journal of Portfolio Management, and Adjunct Professor of Finance at Yale University's School of Management. --This text refers to an alternate Hardcover edition.

Product Details

• Hardcover: 467 pages
• Publisher: Irwin Professional Publishing (January 1997)
• Language: English
• ISBN-10: 1883249112
• ISBN-13: 978-1883249113
• Product Dimensions: 9.1 x 6.1 x 1.4 inches
• Shipping Weight: 1.6 pounds
• Average Customer Review: 3.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #2,790,632 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

4 of 8 people found the following review helpful:

3.0 out of 5 stars More of market commentary in nature than analytical, January 21, 2005

By 

Sudipto K. Haldar "Sudipto" (Robbinsville, NJ USA) - See all my reviews
(REAL NAME)   

This review is from: The Handbook of Commercial Mortgage-Backed Securities, 2nd Edition (Hardcover)

I am a newbie in the REIT field, I read this book with a view to understand the market better and to understand the basic concepts involved in this field. While I must say I did pick up some basic concepts I don't think I understand the market much better than before. The concepts I did pick up was not being explained in detail by the author but he was using those factors and parameters to explain why market behaved in a particular way during, say, the 1985-1990 period.

Now, this is certainly not the book for the beginner, certainly not the book for somebody who wants to analyze how profitable a REIT would be... the mathematical formulas used in the books might be useful for the ones setting up the REIT, but for others, it's certainly not worth the money.