1. Prior to 1992, constraints to public debt financing of commercial real estate in the US did NOT include
a. most CRE owners were non-public entities
b. public information regarding markets and properties was lacking or difficult to obtain
c. business practices among CRE participants were questionable and/or unethical
d. commercial real estate was a mostly local activity
2. A "transitional" property is one that is being located from one location to another.
True
False
3. A "stabilized" property is one that is essentially fully leased, with stable income and operating expenses, creating predictable net operating income.
True
False
4. In MBS, the legal entity that is the owner of mortgage loans and also the issuer of marketable debt instruments is( )
5. The Financial Institutions Reform, Recovery and Enforcement Act of 1989 created what entity that was most important in the history of CMBS ( )