Research Highlights


 Homeownership and Nontraditional and Subprime Mortgages (pdf)

Arthur Acolin University of Southern California
Raphael W. Bostic University of Southern California
Xudong An San Diego State University
Susan M. Wachter University of Pennsylvania
July 2016


Default Option Exercise over the Financial Crisis and Beyond (pdf)

Xudong An Federal Reserve Bank of Philadelphia and San Diego State University
Yongheng Deng National University of Singapore
Stuart A. Gabriel UCLA
April 2016


Cash Flow Performance of Fannie Mae Multifamily Properties: Evidence from Repeated NOI and EGI Indices (pdf)

Xudong An Department of Finance San Diego State University
Jeffrey D. Fisher The Homer Hoyt Institute
David Geltner Center for Real Estate MIT
March 2015


Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation​ (pdf)

Dr. Xudong An and co-authors Yongheng Deng, Jeffery D. Fisher, Maggie (Rong) Hu
October 2014


​The Upgrade and Downgrade of CMBS Credit Ratings (pdf)

Dr. Xudong An and Dr. Joseph B. Nichols
January 2014


​Commercial Mortgages and ​​Commercial Mortgages-Backed Securities (CMBS)

Dr. Xudong An and Kerry D. Vandell
in H. Kent Baker and Petter Chinloy (eds.) Public Real Estate Markets and Investments. Oxford University Press. (Book chapter finished in May 2014 and in print)


Pulling​​ the Trigger: Default Option Exercise over the Business Cycle (pdf)

Xudong An, Yongheng Deng and Stuart Gabriel​​
September 2014


What to do with Fannie Mae and Freddie Mac (pdf)

Dr. Michael Lea
September 2013


Government Policy and the Fixed Rate Mortgage

Michael Lea and Anthony B. Sanders
Annual Review of Financial Economics
Annu. Rev. Financ. Econ. 2011. 3:13.1–13.12


September 29, 2010

U.S. Senate Committee on Banking, Housing & Urban Affairs
– Dr. Michael Lea Testifies Before a Senate Subcommittee


Research Faculty

Dr. Michael Lea                                                                                   Dr. Xudong An