The valuation and securitization of commercial and multifamily mortgages

摘要: Abstract This paper develops a pricing model capable of accurately valuing commercial mortgages and their mortgage backed securities (MBS). It is the first example in general literature on which valuation an MBS explicitly tied to that underlying mortgages, making possible comparison performance loans they back. We have shown while there are similarities between securities, act different ways. In general, it turns out despite being more passive asset, security exhibits complicated behavior.