Dr. Albert Lee recently co-authored a paper on mortgage default for multifamily (MF) properties, and it is currently being reviewed for publication in Real Estate Economics. Co-authored with Dr. Yvon Pho and Mr. Colin Cushman, "Testing the Double-Trigger Hypothesis Using Loan-Level Annual Financial Statement Data from an FHA-Insured Multifamily Program" discusses existing literature on the topic, and finds that "other financial metrics, such as a property’s level of reserves, also play a significant role in the MF default decision."
A publication of American Real Estate and Urban Economics Association (AREUEA), Real Estate Economics is considered the premier journal focusing on topics in real estate, in addition to being the oldest academic publication within the industry.
The paper is still in draft form until approved for publication, but is available here.