Federal Housing Finance Agency (FHFA); Washington, DC, 2025-present.
Chief Economist; Division of Housing Mission and Goals; 2025-present.
Supervisory Economist; Research Branch; Division of Research and Statistics; 2018-2025.
Senior Economist; Research Initiatives and Analytics Support Branch; Division of Housing Mission and Goals; 2015-2018.
Senior Economist; Capital Policy Branch; Division of Housing Mission and Goals; 2014-2015.
Economist; Policy Research Branch; Division of Housing Mission and Goals; 2012-2014.
Maryland-National Capital Park and Planning Commission; Riverdale, MD; 2016-2025.
Commissioner; Prince George's County Planning Board.
City of Hyattsville; Hyattsville, MD; 2015-2016
Planning Committee Member; City Council.
Florida State University; Tallahassee, FL; 2007-2012.
Research Assistant; DeVoe L. Moore Center; 2010-2012.
Economics Instructor; Department of Economics; 2010-2011.
Teaching Assistant; Department of Economics; 2007-2009.
Florida State University; Tallahassee, FL; 2007-2012.
Ph.D. in Economics.
M.S. in Economics.
Universidad del Valle de Guatemala; Guatemala City; 2005-2005.
Post-Graduate Studies in Development.
Furman University; Greenville, SC; 2000-2004.
B.S. in Mathematics-Economics & Urban Studies.
"When Risk Does Not Discount: Flood History and Rising Property Valuations." (with M. Seiler and M. Suandi). Real Estate Economics, accepted, 2025.
"Measuring Price Effects from Disasters Using Public Data: A Case Study of Hurricane Ian." (with J. Contat, R. Renner, and M. Rogers). Journal of Real Estate Research, 47(2), 170-217, 2025. Awarded best paper by a practitioner by American Real Estate Society (ARES). Open access.
"House Price Markups and Mortgage Defaults." (with P. Carrillo and W. Larson). Journal of Money, Credit and Banking, 55(4), 747-782, 2023. Awarded best paper in real estate valuation by ARES.
"Mortgage Appraisal Waivers and Prepayment Speeds." (with J. Bosshardt and F. Xu). Cityscape, 24(3), 61-86, 2022.
"Applying Seasonal Adjustments to Housing Markets." (with W. Lin). Cityscape, 24(3), 87-122, 2022.
"Local House Price Dynamics: New Indices and Stylized Facts." (with A. Bogin and W. Larson). Real Estate Economics, 47(2), 365-398, 2019. Lead article. Open access. Coverage: Calculated Risk, Chicago Tribune, New York Times, NBC News, Wall Street Journal, Washington Post. Open access. Data available.
"Local House Price Paths: Accelerations, Declines, and Recoveries." (with A. Bogin and W. Larson). Journal of Real Estate Finance and Economics, 58(2), 201-222, 2019. Open access. Data available.
"Missing the Mark: Mortgage Valuation Accuracy and Credit Modeling." (with A. Bogin and W. Larson). Financial Analysts Journal, 75(1), 32-47, 2019. Awarded best paper in real estate market analysis by ARES. Coverage: National Mortgage News. Data available.
"Property Renovations and Their Impact on House Price Index Construction." (with A. Bogin). Journal of Real Estate Research, 41(2), 249-283, 2019. Awarded best paper in real estate valuation by ARES. Open access.
"How Low Can House Prices Go? Estimating a Conservative Lower Bound." (with A. Bogin and S. Bruestle). Journal of Real Estate Finance and Economics, 54(1), 97-116, 2017. Coverage: Calculated Risk, GARP, HousingWire, Inside Mortgage Finance, RealtyTrac. Awarded best paper in real estate cycles by ARES. Open access.
"Overlooked Market Risk Shocks: Prepayment Uncertainty and Option-Adjusted Spreads." (with A. Bogin and N. Polkovnichenko). Journal of Fixed Income, 26(2), 5-15, 2016. Lead article. Open access.
"Distressed Sales and the FHFA House Price Index." (with A. Leventis). Journal of Housing Research, 24(2), 127-146, 2015. Lead article. Coverage: WSJ blog, Appraisal Institute, HousingWire, Mortgage Bankers Association, Mortgage News Daily, and Mortgage Orb. Open access.
"The Role of Representative Agents in the Property Tax Appeals Process." (with K. Ihlanfeldt). National Tax Journal, 68(1), 59-92, 2015.
"An Empirical Analysis of the Property Tax Appeals Process." (with K. Ihlanfedlt). Journal of Property Tax Assessment & Administration, 10(4), 5-34, 2014. Lead article.
"Generating Historically-Based Stress Scenarios Using Parsimonious Factorization." (with A. Bogin). Journal of Risk Finance, 15(5), 591-611, 2014. Coverage: Global Association of Risk Professionals (webcast) and Emerald (video). Awarded best paper by journal. Downloaded more than 1500 times.
"Collective Bargaining and Job Benefits in Florida Municipal Police Agencies, 2000-2009" (with W. G. Doerner). American Journal of Criminal Justice, 38(4), 657-677, 2013.
“Police Accreditation and Clearance Rates." (with W. G. Doerner). Policing: IJPSM, 35(1), 6-24, 2012. Lead article. Awarded best paper by journal.
“City Government Structure: Are Some Institutions Undersupplied?" (with K. Ihlanfeldt). Public Choice, 149(2), 109-132, 2011.
“House Prices and City Revenues" (with K. Ihlanfeldt). Regional Science and Urban Economics, 41(4), 332-342, 2011. Coverage included the Federal Reserve Bank of Atlanta (blog, podcast, iTunes) and Lincoln Institute of Land Policy (Land Lines).
“Collective Bargaining and Job Benefits: The Case of Florida Deputy Sheriffs." (with W. G. Doerner). Police Quarterly, 13(4), 367-386, 2010.
“The Diffusion of Accreditation Among Florida Police Agencies.” (with W. G. Doerner). Policing: IJPSM, 32(4), 781-798, 2009.
"The Lock-In Effect of Rising Mortgage Rates." (with R. Batzer, J. Coste, and M. Seiler). FHFA Working Paper 24-03. Coverage: Barrons, Boston Globe, Business Insider, Calculated Risk, CNBC, Entrepreneur, Financial Times, Investopedia, MSN, Newsweek, New York Times, Realtor.com, San Francisco Chronicle, Wall Street Journal, Washington Post, Yahoo!Finance. Data available. R&R.
"European Energy Crisis: Did Electricity Prices Shock Real Estate Markets?" (with B. Brolinson, A. Pollestad, and M. Seiler). FHFA Working Paper 24-10. R&R.
"Underappraisal Disparities and Time Adjustments to Comparable Sales Prices in Mortgage Appraisals" (with S. Susin). FHFA Working Paper 24-07. R&R.
"Banking on Buffers: Balance Sheet Responses to Household Demand, Macroeconomic Conditions, and Monetary Policy" (with M. Seiler and V. Wong). FHFA Working Paper 24-08. Blog.
"Individual Borrower Motivations Surrounding Mortgage Forbearance Take-Up and Exit" (with J. Contat, M. Seiler, and S. Weiner). FHFA Working Paper 24-11.
Presentations: Academic conferences (AEA, AREUEA, ARES, ABFM, NARSC, NTA, SEA), Federal Reserve Banks (Atlanta, Philadelphia, Richmond), non-profit think tanks (Brookings Institution, Homer Hoyt Institute, Lincoln Institute of Land Policy, Urban Institute), trade associations (Mortgage Bankers Association, National Association of REALTORS), U.S. federal agencies (Census, FHFA, HUD, SEC, Treasury), White House.
Research Awards: Kinnard Young Scholar Award for top real estate scholar under the age of 40 (2020), Research Fellow at Institute of Real Estate Finance and Management (2018), American Real Estate Society's Best Paper Award (2024, 2019, 2018, 2017, 2016, 2015), Emerald's Outstanding Paper (2014), Emerald's Highly Commended Paper Award (2013), Lincoln Institute of Land Policy (2011).
Teaching Awards: University Teaching Award (2011, FSU), Charles E. Rockwood Graduate Student Teaching Award (2011, FSU), Dewey F. Bartlett Fellowship (2008, FSU), Furman Advantage Teaching Fellowship (2004, Furman).
Professional Accolades: 2 federal trademarks (more under review). Agency awards for excellence in management and teamwork.
News Coverage: Barrons, Boston Globe, Business Insider, C-SPAN2, Calculated Risk, Chicago Tribune, CNBC, Financial Times, GARP, HousingWire, Insider Mortgage Finance, MSN, National Mortgage News, NBC, New York Times, Newsweek, San Francisco Chronicle, U.S. News, Wall Street Journal, Washington Post, Yahoo!Finance.
Computer: GIS, LaTeX, SAS, Stata, R. Adobe, MS Office suite. MS Windows, Linux/Unix
Languages: English (native) and Spanish (fluent)
Citizenship: United States.