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Dennis R. Capozza is a founding principal of University Financial Associates LLC and a Professor of Finance and the Dykema Professor of Business Administration at the Ross School of Business at the University of Michigan. He earned a BA degree from the University of Pennsylvania and a Ph.D. (Economics) from the Johns Hopkins University. He has also served on the faculties at the Massachusetts Institute of Technology, the University of British Columbia and the University of Southern California. Dr. Capozza has contributed over 100 articles to journals and books and has been a leader in integrating the modern theory of finance into real estate and lending applications. His current research focuses on the economics of loan performance where he pioneered the use of contingent claims and arbitrage methods to value mortgages and mortgage related instruments. At University Financial Associates he pioneered the analysis of mortgage collateral markets and created the "UFA Default Risk Index", which alerts lenders to the future default risks of regional markets. Dr. Capozza is a co-editor of the Journal of Financial Abstracts: Real Estate and on the board of editors of six journals in real estate and economics. He was a co-editor of Real Estate Economics from 1992-97 is the immediate past president of the American Real Estate and Urban Economics Association. | 