AI in Real Estate Finance
Are securitization contracts boilerplate? Machine learning on CMBS pooling and servicing agreements (JFQA, 2024)
Summary of Information in Financial Contracts: Evidence from Securitization Agreements, with Brent W. Ambrose, Yiqiang Han, and Sanket Korgaonkar. A machine-learning comparison of the pooling and servicing agreements behind commercial mortgage-backed securities shows substantial variation across deals, underwriters, and time, partly explained by collateral, and correlated with later loan and bond performance.