Thomas Vincent 1 July, 1999

Aloha Ladies and Gentlemen,

Our "Commercial Mortgages" session is scheduled for Sunday, January 5, 2003 at 1:30 p.m. in the Convention Center, Room 36 as part of the AREUEA annual conference, January 3rd - 5th to be held in Washington, D.C.. Enclosed is a listing of presenters and discussants, a session schedule and the papers and/or abstracts submitted for presentation at the session. Please check to see that all of your personal information is correct as listed. Session information has recently been posted on the web: go to www.vanderbilt.edu/AEA, and then click on "Annual Meeting". The listings are organized by date, time and then alphabetically by participating organization.

The format for the session is as follows:

Paper presentations: no more than 20 minutes
Discussant comments: no more than 5 minutes
Rebuttal by presenters: 1-2 minutes
Remaining time: devoted to questions, answers, and comments

Each author should send the final version of the paper to his or her discussant, as well as all other participants in the session no later than December 3, 2002. According to the ASSA, each person in our session must register for the meetings and pay the registration fee (translation: no arbitrage is allowed). Identification badges are required for admission to sessions and activities. If you have any questions, please feel free to contact me. Mahalo (thank you).

Me ka `oiã`i`o,
(with sincerity)
Crocker H. Liu
Associate Professor of Finance

ALLIED SOCIAL SCIENCE ASSOCIATIONS, January 3-5, 2003, Washington, DC

Day: Sunday Time: 1:30 p.m. Date: January 5, 2003
Location: Convention Center, Room 36
Association American Real Estate and Urban Economics Association

Session Title: Commercial Mortgages

Presiding: Crocker H. Liu, New York University

JUN CHEN and YONGHENG DENG, University of Southern California--Property Market Performance and
Commercial Mortgage Defaults

MARK J. EPPLI, Marquette University, and CHARLES C. TU, California State University-Fullerton--Pricing
Credit Risk in Commercial Mortgages

BRENT W. AMBROSE, University of Kentucky, and ANTHONY B. SANDERS, Ohio State University--High LTV
Loans and Credit Risk

DANIEL C. QUAN, Cornell University--Securitized Commercial Mortgage Default--Hotel Mortgages and Franchise
Loans

Discussants:

      JARL KALLBERG, New York University
      ANDREA HEUSON, University of Miami
      JIM CLAYTON, University of Cincinnati
      BRADFORD CASE, Federal Reserve Board

Presiding: Crocker H. Liu

Batting Order: Email all participants

Order	Presenter	Discussant
1	Jun Chen and Yongheng Deng "Property Market Performance and Commercial Mortgage Defaults" University of Southern California School of Policy, Planning, and Development RGL 328, 650 Childs Way Los Angeles, CA 90089-0626 Phone: (213)821-1030 Fax: (213)740-6170 Email: ydeng@usc.edu	Jarl Kallberg New York University Stern School of Business Management Education Center 44 West 4^th Street, Suite 9-190 NY, NY 10012-1126 Phone: (212) 998-0339 Fax: (212) 995-4233 Email: jkallber@stern.nyu.edu
2	Mark J. Eppli and Charles C. Tu "Pricing Credit Risk in Commercial Mortgages" Mark J. Eppli Marquette University P.O. Box 1881 Milwaukee, WI 53201-1881 Phone: (414)288.5724 Fax: Email: mark.eppli@marquette.edu Charles C. Tu California State University-Fullerton P.O. Box 6848 Fullerton, CA 92834 Phone: (714)278-2256 Fax: (714)278-2161 Email: ctu@fullerton.edu	Andrea Heuson University of Miami Department of Finance School of Business Jenkins Building Coral Gables, FL 33124 Phone: (305)284-1866 Fax: (305)284-4800 Email: aheuson@miami.edu
3	Brent W. Ambrose and Anthony Sanders "High LTV Loans and Credit Risk" Brent W. Ambrose Director, Center for Real Estate Studies Gatton College of Business and Economics University of Kentucky Lexington, KY 40506-0034 Phone: (859) 257-7726 Fax: (859) 257-9688 Email: ambrose@uky.edu Anthony Sanders Ohio State University Department of Finance Fisher College of Business 820 Fisher Hall 2100 Neil Avenue Columbus, Ohio 43210-1144 Phone: (614) 688-8609 Fax: (614)292-2418 Email: sanders.12@osu.edu	Jim Clayton University of Cincinnati Department of Finance ML 0195 Cincinnati, OH, 452210195 Phone: (513)556-7077 Fax: (513)-556-4891 E-mail: Jim.Clayton@uc.edu
4	Daniel Quan "Securitized Commercial Mortgage Default--Hotel Mortgages and Franchise Loans" Cornell University Financial Management Department 435D Statler Hall, Ithaca, NY, 148530000 Phone: (607)255-6404 Fax: (607) 255-0242 E-mail: dq22@cornell.edu	Bradford Case Board of Governors of the Federal Reserve System Mail Stop 153 Washington, DC 20551 Phone: (202)452-2442 Fax:(202)452-5295 E-mail: bradford.case@frb.gov