Tyler Yang by alicejenny

VIEWS: 8 PAGES: 6

									                                    Tyler T. Yang
                                 51 Monroe Street, Plaza E-6
                                    Rockville, MD 20850
                                   Phone: (301) 309-6560
                                     Fax: (301) 309-6562
                                  tyler.yang@ifegroup.com

Specialties
       Investments, Portfolio and Risk Management, Derivative Securities, Real Estate Finance

Education
      Ph.D.         1991     Finance, University of Illinois at Urbana-Champaign
      M.S.          1987     Finance/Real Estate, University of Illinois at Urbana-Champaign
      M.Arch.       1987     Architecture, University of Illinois at Urbana-Champaign
      B.Arch.       1982     Architecture, Tunghai University (Taiwan)
      Certificate   1985     Computer Science, National Taiwan University

Experience
      President and CEO, Integrated Financial Engineering, Inc., 2002-present.

       Sr. Director of Credit Portfolio Engineering, Freddie Mac, 1999-2002.

       Director of Financial Risk Management, PricewaterhouseCoopers LLP, 1999, Principal
              Consultant, 1996-1999.

       Senior Research Economist, Fannie Mae, 1994-1996.

       Assistant Professor, Department of Finance, Real Estate, and Law, California State
              University, Long Beach, 1991-1994.

       Adjunct Faculty, Georgetown University, 2003-present.

       Adjunct Faculty, American University, 2001.

       Adjunct Faculty, George Washington University, 1999-2000.

       Lecturer, Department of Finance, University of Illinois at Urbana-Champaign, 1990-
              1991.

Publications
       “Curtailment as A Mortgage Performance Indicator,” with Che-Chun Lin, Journal of
              Housing Economics, Vol. 14, No. 3, pp. 294-314, 2005.
                                                                      Tyler Yang, page 2/6


“A Multivariate Repeat Sales Model for Estimating House Price Indices,” with Roger E.
        Cannaday and Henry J. Munneke, Journal of Urban Economics, Vol. 57, No. 2,
        pp. 320-342, 2005
“China Housing Provident Fund,” with Richard J. Buttimer and Yanxiang A. Gu,
        International Real Estate Review, forthcoming, 2004.
“The Effect of Exercise Date Uncertainty on the Value of Employee Stock Options,” with
        Brian A. Maris and Jo-Mae Maris, Journal of Business Finance and Accounting,
        Vol. 30, No. 5&6, pp. 669-697, 2003.
“Option Pricing in A Multi-Asset Complete-Market Economy,” with Ren-Raw Chen and
        San-Lin Chung, Journal of Financial and Quantitative Analysis, Vol. 37, No. 4,
        pp. 649-666, 2002.
“A Simple Multi-factor, Time-Dependent-Parameter Model for Term Structure of Interest
        Rates,” with Ren-Raw Chen, Review of Quantitative Finance and Accounting,
        Vol. 19, No. 1, pp. 5-20, 2002.
“Optimal Property Management Strategies,” with Peter F. Colwell and Yuehchuang
        Kung, International Real Estate Review, Vol. 4, No. 1, pp. 1-25, 2001.
“Housing Finance in a Stochastic Economy: Theory, Estimation, and Policy
        Implications,” with Henry Buist, Real Estate Economics, Vol. 28, No. 1, pp. 117-
        139, 2000.
“A Universal Lattice,” with Ren-Raw Chen, Review of Derivatives Research, Vol. 3, pp.
        115-133, 1999.
“Valuing Fixed-Income Options and Mortgage-Backed Securities with Alternative Term
        Structure Models,” with Ren-Raw Chen and Brian Maris, Journal of Business,
        Finance, and Accounting, Vol. 26, No. 1&2, pp. 33-55, 1999.
“Predicting Selling Prices for Multifamily Residential Real Estate,” with Lawrence F.
        Sherman and Joseph W. Trefzger, Real Estate Review, Vol. 29, No. 2, pp. 49-53,
        Summer, 1999.
“Pricing the Competing Risks of Mortgage Default and Prepayment in Metropolitan
        Economies,” with Henry Buist, Managerial Finance, Vol. 28, No. 9/10, pp. 110-
        128, 1998.
“An Analysis of Ex-Ante Probabilities of Mortgage Prepayment and Default,” with Henry
        Buist and Isaac F. Megbolugbe, Real Estate Economics, Vol. 26, No. 4, pp. 651-
        676, Winter, 1998.
“Mortgage Prepayment Float: Pricing and Risk Analysis,” with Lazarus Angbazo, John
        McConnell, and Isaac F. Megbolugbe, Journal of Fixed Income, Vol. 7, No. 4, pp.
        83-93, March, 1998.
“Rationales of Mortgage Insurance Premium Structures,” with Barry Dennis and
        Chionglong Kuo, Journal of Real Estate Research, Vol. 14, No. 3, pp. 359-378,
        1997.
“Microeconomic Study of Commercial Real Estate Firms,” with Joseph W. Trefzger and
        Lawrence F. Sherman, Journal of Real Estate Research, Vol. 13, No. 2, pp. 177-
        194, 1997.
“Interest-Only and Principal-Only Mortgage Strips as Interest Rate Contingent Claims,”
        with Brian Maris, Journal of Real Estate Finance and Economics: Vol. 13, No. 3,
        pp. 187-202, November, 1996.
                                                                             Tyler Yang, page 3/6


       “Optimal Leverage Strategy: Capital Structure in Real Estate Investments,” with Roger E.
               Cannaday, Journal of Real Estate Finance and Economics: Vol. 13, No. 3, pp.
               263-271, November, 1996.
       “Mortgage Prepayment with an Uncertain Holding Period,” with Brian Maris, Journal of
               Real Estate Finance and Economics, Vol. 12, No. 2, pp. 179-194, 1996.
       “Optimal Interest Rate-Discount Points Combination: Strategy for Mortgage Contract
               Terms,” with Roger E. Cannaday, Real Estate Economics: Vol. 23, No. 1, pp. 65-
               83, Spring, 1995.
       “The Relevance of Interest Rate Processes in Pricing Mortgage-Backed Securities,” with
               Ren-Raw Chen, Journal of Housing Research: Vol. 6, No. 2, pp. 315-332, 1995.
       “Efficiency of Mortgage Pricing Models, a Comparison between Finite Difference Model
               and the Closed Form Model,” (in Chinese) with Ren-Raw Chen and Hsien-Hsing
               Liao, Review of Securities and Futures Market, Vol. 7, No. 2, pp. 29-49, April,
               1995.
       “Mortgage Refinancing with Asymmetric Information,” with Brian Maris, Journal of the
               American Real Estate and Urban Economics Association: Vol. 21, No. 4, pp. 481-
               510, Winter, 1993.
       “Self-Selection in the Fixed Mortgage Market,” Journal of the American Real Estate and
               Urban Economics Association: Vol. 20, No. 3, pp. 359-391, Fall, 1992.
       “Microfoundation of a Mortgage Prepayment Function,” with James R. Follain and Louis
               O. Scott, Journal of Real Estate Finance and Economics: Vol. 5, No. 2, pp. 197-
               217, June, 1992.

Participation at Professional Meetings
       Presentations
              American Real Estate and Urban Economics Association annual meetings: 2006,
                      2005, 2004, 2003, 2002, 2001, 2000, 1999, 1998, 1997 (2), 1996, 1995,
                      1994 (2), 1993, 1992, 1988.
              American Real Estate Society annual meetings: 2004, 1999, 1998 (2), 1997, 1996
                      (3), 1995, 1994, 1993, 1992, 1991.
              Asian Real Estate Society annual meetings: 2004 (3), 2002, 2001, 2000, 1999
                      (Presidential Address), 1998 (2), 1997 (2), 1996.
              Chinese Real Estate Community Conference: 1998.
              Financial Management Association annual meetings: 1997 (2), 1996 (2), 1995,
                      1992, 1990.
              International Real Estate Conference: 1996.
              Fannie Mae Research Series: 1996, 1994.
       Discussions
              American Real Estate and Urban Economics Association annual meetings: 2005,
                      2003, 2002, 2000 (2), 1999, 1998, 1997, 1993.
              Asian Real Estate Society annual meetings: 2003, 2002, 2001, 2000, 1998.
              Chinese Real Estate Community Conference: 1998.
              Financial Management Association annual meetings: 1997 (2), 1996, 1995 (2).
              National Bureau of Economics Research conference: 1994.
       Chairs
                                                                             Tyler Yang, page 4/6


              American Real Estate and Urban Economics Association annual meetings: 1999,
                      1997.
              American Real Estate Society annual meetings: 1998, 1996.
              Asian Real Estate Society annual meetings: 2005, 2004, 2002, 2001, 2000, 1998,
                      1997.
              Chinese Real Estate Community Conference: 1998.
              Pacific Basin Financial Markets and Policies Conference: 1999.
              Small Firm Financial Research Annual Symposium: 1993 (2).

Courses Taught
             Advanced Financial Engineering: 13 class series
             Business Finance: 5 semesters, 5 sections
             Financial Institutions and Markets: 1 semester, 1 section
             Financial Management: 2 semesters, 3 sections
             Financial Survey: 1 semester, 1 section
             Fixed Income Analysis: 3 semesters, 4 sections, 12 lecture hours each
             Investments: 1 semester, 1 section
             Real Estate Appraisal: 2 semesters, 2 sections
             Real Estate Finance: 4 semesters, 5 sections
             Real Estate Principles: 7 semesters, 10 sections
             Security Analysis: 1 semester, 1 sections
             Seminar in Real Estate: 1 semester, 1 section
      Advised two Master theses.
      Served on one Ph.D. dissertation committee.

Other Professional Activities
      Executive Director, Asian Real Estate Society, 2002-present.
      Co-Editor, International Real Estate Review, 1997-present.
      Associate Editor, Journal of Real Estate Research, 1999-present.
      Associate Editor, Review of Pacific Basin Financial Markets and Policies, 1997-present.
      Chairman, Journal Committee, Asian Real Estate Society, 1999-present.
      Chairman, Fund Raising Committee, Asian Real Estate Society, 1999-present.
      Co-Editor, Journal of Real Estate Literature, 1996-2002.
      Chairman, Best Paper Award Committee, Asian Real Estate Society, 1999-2000.
      Chairman, Panel Program Committee, Asian Real Estate Society Year 2000 Conference,
             1999-2000.
      Member, Standing Advisory Committee for the Financial Management Association and
             the Certified in Financial Management, 1997-2000.
      President, Asian Real Estate Society, 1998-1999.
      Member, Nominating Committee, American Real Estate and Urban Economics
             Association, 1995-1996, 1999-2000.
      President Elect, Asian Real Estate Society, 1997-1998.
      Member, Organizing Committee, The Sixth Conference on Pacific Basin Business,
             Economics and Finance, 1997-1998.
                                                                             Tyler Yang, page 5/6


       Member, Organizing Committee, The First Conference of Chinese Real Estate
              Community, 1997-1998.
       Vice President and Program Chair, Asian Real Estate Society, 1996-1997.
       Member, Membership and Committee Structure Committee, American Real Estate and
              Urban Economics Association, 1996-1997.
       Assistant Editor, Journal of Housing Research, 1994-1996.
       Member, Graduate Council, California State University, Long Beach, 1993-1994.
       Member, University Organization and Service Committee, California State University,
              Long Beach, 1992-1994.
       Chairman, Scholarship Committee, College of Business Administration, California State
              University, Long Beach, 1992-1994.
       Member, Curriculum Committee, Department of Finance, Real Estate, and Law,
              California State University, Long Beach, 1992-1994.
       Founder and Faculty Advisor, California State University, Long Beach Chapter of
              Lambda Alpha Land Economics Association, 1993-1994, Outstanding Faculty
              Advisor Award, 1994.
       Faculty Advisor, Financial Management Association, California State University, Long
              Beach Student Chapter, 1992-1994, Outstanding Faculty Advisor Award, 1994.
       Faculty Advisor, Real Estate Society, California State University, Long Beach, 1992-
              1993.
       Referee for Real Estate Economics, Journal of the American Real Estate and Urban
              Economics Association, Journal of Real Estate Finance and Economics, Journal
              of Real Estate Research, Journal of Housing Economics, and Journal of Housing
              Research.
       Book reviewer for Allyn & Bacon, Chinese Economists Society, and Irwin.
       Research grant reviewer for Office of Real Estate Research, University of Illinois at
              Urbana-Champaign; Office of Housing Research, Fannie Mae; Hong Kong
              Research Grants Council.

Quantitative and Computer Skills
      Quantitative skills: Finite Difference Method, Monte Carlo Simulations, Dynamic
              Optimization, Stochastic Modeling, Mathematical Statistics, Econometrics, Linear
              programming, etc.
      Programming experiences: C, C++, Mathematica, SAS, Stata, etc.
      Software packages: Excel, AutoCAD, Freehand, Microsoft Word, WordPerfect,
              Scientific Word, Page Maker, Power Point, etc.
      Hardware platforms: PC, Macintosh, UNIX, Linux, and mainframe systems.

Honors and Awards
      Postdoctoral Fellowship, Homer Hoyt Advanced Studies Institute, 2002-2003.
      Breakthrough Gold Award, Freddie Mac, 2001.
      Critical Talent Award, Freddie Mac, 2000.
      Best manuscript award in real estate finance, American Real Estate Society, “Rationales
              of Mortgage Insurance Premium Structures,” 1997.
                                                                           Tyler Yang, page 6/6


      Research Grant, Federal National Mortgage Association, “The Relevance of Interest Rate
              Processes in Pricing Mortgage-Backed Securities,” 1994.
      The American Real Estate and Urban Economics Association/Homer Hoyt Advanced
              Studies Institute annual doctor dissertation award, 1992.
      Investors in Business Education Doctoral Fellowship, University of Illinois, 1991.
      Kenneth J. Carey Memorial Fellowship, University of Illinois, 1990-1991.
      Participated in the Financial Management Association Invitational Doctoral Student
              Seminar, 1990.
      Phi Kappa Phi, 1990.
      University Fellowship, University of Illinois, 1987-1988.

Professional Organizations
       The American Finance Association
       The American Real Estate and Urban Economics Association
       The American Real Estate Society
       The Asian Real Estate Society (Ex-President)
       The Financial Management Association
       International Association of Financial Engineers

								
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