Professor and Chair of the Real Estate Group | Lisle and Roslyn Payne Chair in Real Estate and Capital Markets | Co-Chair, Fisher Center for Real Estate and Urban Economics
Real Estate | Sustainability
About
Nancy Wallace is the the Lisle and Roslyn Payne Chair in Real Estate Capital Markets at Berkeley Haas. She serves as chair of the Real Estate Group and co-chair of the Fisher Center for Real Estate and Urban Economics. Wallace is an expert in mortgages, mortgage-related securities, and other real estate topics.
Expertise and Research Interests
- Housing Price Indices and Models
- Mortgage Prepayment and Pricing Models
- Option Pricing Models for Commercial and Retail Real Estate Leases for Use in the Commercial Mortgage-backed Securities Markets
- Mortgage Contract Design
- Mortgage Backed Security Trading
- Executive Stock Option Valuation
- Jennifer N. Carpenter, Richard Stanton, Nancy Wallace. Employee Stock Option Exercise and Firm Cost. The Journal of Finance.
December 2018 - Richard Stanton, Nancy Wallace. CMBS Subordination, Ratings Inflation, and Regulatory-Capital Arbitrage. Financial Management.
2017 - Nancy Wallace, Stefan Gissler, Jeremy Oldfather, and Doriana Ruffino. Comments on: Lending on Hold: Regulatory Uncertainty and Bank Lending Standards. Journal of Monetary Economics.
2016 - Nancy Wallace, Johan Walden, and Richard Stanton. The Industrial Organization of the U.S. Residential Mortgage Market. Annual Review of Financial Economics,.
2014 - Ashok Bardhan, Dwight Jaffee, Cynthia Kroll, Nancy Wallace. Energy Efficiency Retrofits for U.S. Housing: Removing the Bottlenecks. Regional Science and Urban Economics.
2014 - Nancy Wallace, John Patrick Hunt, Richard Stanton. Rebalancing Public and Private in the Law of Mortgage Transfer. American University Law Review.
2013 - Nancy Wallace, John Patrick Hunt, Richard Stanton. U.S. Residential-Mortgage Transfer Systems: A Data-Management Crisis. Handbook of Financial Risk.
2012 - John Patrick Hunt, Richard Stanton, Nancy Wallace. All in One Basket: The Bankruptcy Risk of a National Agent-Based Mortgage Recording System. University of California, Davis Law Review.
2012
At Haas since 1986
2001 – present, Co-Chair, Fisher Center for Real Estate and Urban Economics
2000 – present, Professor of Real Estate, Haas School of Business
1993 – 2000, Associate Professor in Real Estate, Haas School of Business
1986 – 1993, Assistant Professor in Real Estate, Haas School of Business
Spring 1997, Visiting Associate Professor in Finance, Graduate School of Business, Stanford University
- The Federal Reserve System, Model Validation Council, (6/2013 – present)
- Financial Research Advisory Committee, Office of Financial Research, U.S. Treasury, (2012 –present)
- Committee on Academic Planning and Resource Allocation, CAPRA (2012 – 2013; Co-Chair 2013 – 2014)
- University of California Office of the President, Task Force on Investments and Retirement, At-large member. (2013 – 2014).
- Board of Directors and past president, American Real Estate and Urban Economics Association
- Visiting Scholar: San Francisco Federal Reserve Bank, Stanford Graduate School of Business, Stockholm School of Economics
- Editorial Board: Journal of Computational Finance, Journal of Real Estate Research
UC Berkeley Faculty Service Award
Feb 2019
Bestowed by the Berkeley Division of the Academic Senate on faculty whose “outstanding and dedicated service to the campus, and whose activities as a faculty member have significantly enhanced the quality of the campus as an educational institution and community of scholars.”
Earl F. Cheit Outstanding Teaching Award, Haas School
2002, 2005
Bloom Award, American Real Estate and Urban Economics
2010
- The AI-Bias Problem And How Fintechs Should Be Fighting It: A Deep-Dive With Sam Farao, Forbes, 09/29/2021
- Black Homebuyers Today Pay An Unequal Price, NPR – All Things Considered, 05/07/2021
- Trump leaves office facing mounting debt, devalued assets and scarcity of willing lenders, PBS NewsHour, 01/22/2021
- What next for the Trump brand?, BBC World Business Report, 11/20/2020
- Why Fintech Needs to Tackle AI Bias, Wired, 11/06/2020
- Trump Facing Devastating Debt Load? Experts Say Not So Fast, The Washington Post, 09/29/2020
- Why Donald Trump Is Facing a Financial Nightmare, Mother Jones, 09/28/2020
- Can Digital Mortgage Platforms Reduce Discrimination in Lending?, DNYUZ, 09/18/2020
- Is an Algorithm Less Racist Than a Loan Officer?, The New York Times, 09/18/2020
- Why Corporations’ Responses To George Floyd Protests Matter, SP Global, 07/23/2020
- Trump Has a Half Billion in Loans Coming Due. They May Be His Biggest Conflict of Interest Yet., Mother Jones, 06/29/2020
- The “Shadow Banks” Are Back, and Still Too Big to Fail, The New Republic, 04/27/2020
- UC Berkeley professors suggest mortgage crisis may be imminent amid coronavirus pandemic, Daily Californian, 04/21/2020
- Mortgage Firms Teeter Near Crisis That Regulators Saw Coming, Bloomberg, 04/03/2020
- Mortgage industry seeks billions in federal help as homeowners stop paying their loans, The Washington Post, 03/27/2020
- Real Estate Finance, EMBA 283
- Real Estate Investment Analysis, MBA 280
- Real Estate Strategy, MBA 284
- Real Estate Investment Analysis and Urban Economics, MBA 180
- Asset-backed Securization, MFE 230M
