Robert A. Van Order

Robert A. Van Order

Robert A. Van Order

Oliver Carr Chair in Real Estate; Professor of Finance & Economics


Contact:

Office Phone: (202) 994-3427
2201 G Street NW, Suite 501-A Washington, DC 20052

Robert Van Order holds the Oliver Carr Chair in Real Estate at the George Washington University, and is a professor of finance and economics. He was chief economist of Freddie Mac from 1987 until 2002. In that capacity he worked on the development of Freddie Mac models of mortgage default, prepayment and pricing; approaches to risk, capital structure and capital requirements; mortgage market structure; and analysis of housing and the economy. Before that he served as director of the Housing Finance Analysis Division at the U.S. Department of Housing and Urban Development (HUD).

He has taught at the University of California, Los Angeles, Purdue University, the University of Southern California, Queens University in Canada, American University in Washington, D.C., Ohio State University, the Wharton School at the University of Pennsylvania, the University of Aberdeen in Scotland and the University of Michigan. He has consulted on mortgage markets in Sri Lanka, India, Latvia, Russia, Ghana, Nicaragua, Brazil, Egypt, Colombia, Poland and Pakistan.

  • Phi Beta Kappa
  • Woodrow Wilson Dissertation Fellow
  • George Bloom Distinguished Service Award: American Real Estate and Urban Economics Association (2007)
  • Winner of Edwin S. Mills Best Paper Award, American Real Estate and Urban Econ. Assoc. (2017)
  • Mortgage Markets
  • Default risk
  • House prices
  • Ph.D., Johns Hopkins University, 1972
  • M.A., University of Essex, 1967
  • B.A., Grinnell College, 1966
  • Seminar in Real Estate
  • Microeconomics
  • FInancing Real Estate
  • Housing Finance
  • Financial Markets
  • Housing Policy
  • Real Estate Economics
  • "When Housing Markets Meet Shadow Banking: Bubbles, Mortgages, Securitization, and Fintech." World Scientific Press, Singapore. December, 2023, with Rose Neng Lai (University of Macau).
  • “Fannie Mae and Freddie Mac: Risk-taking and the Option to Change Strategy,” with Jason Thomas. Journal of Real Estate Finance and Economics. 2018.
  • “A Tale of Two Countries: Comparing Booms, Busts and Bubbles in the US and Chinese Housing Markets.” with Rose Lai. Journal of Real Estate Finance and Economics. 2017.
  • “U.S. House Prices over the Last 30 Years: “Bubbles, Regime Shifts and Market (In)Efficiency,” with Rose Neng Lai, Real Estate Economics, 2017 (Winner of Best Paper Award, American Real Estate and Urban Econ. Assoc.).
  • “Deconstructing the Subprime Debacle Using New Indices of Underwriting Quality and Economic Conditions: A First Look,” with Charles Anderson, and Dennis R. Capozza, Journal of Money Credit and Banking. June 2011.
  • “A Model of Financial Structure and Financial Fragility.” Journal of Money, Credit and Banking, 2006.
  • "The Structure of Mortgage Markets in the United States: A Model of Dueling Charters,” The Journal of Housing Research, 2001.
  • "Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options,” with Y. Deng and J. Quigley, Econometrica, 2000.
  • “Pricing Mortgages: An Interpretation of Models and Results,” (with P. Hendershott), Journal of Financial Services Research, 1987.
  • “FHA Mortgage Terminations: A Prelude to Rational Mortgage Pricing,” (with C. Foster), AREUEA Journal, 1985.
  • "Inflation, Housing Costs, and the Consumer Price Index,” (with A. Dougherty), American Economic Review, 1982.
  • “On the Bias in the Estimates of the Effectiveness of Monetary and Fiscal Policy,” Review of Economics and Statistics, 1978.
  • “A Generalized Model of Spatial Competition,” (with D. Capozza), American Economic Review, 1978.
  • "Unemployment, Inflation, and Monetarism: A Further Analysis,” American Economic Review, 1977.
  • “Pricing under Spatial Competition and Spatial Monopoly,” (with D. Capozza), Econometrica, September 1977.
  • "A Model of Optimal Growth and Stabilization,” International Economic Review, June 1975.