Quantitative Rigor.
Institutional Pedigree.
Forensic Clarity.
WH Advisory LLC provides PhD-level financial forensics and strategic consulting across the institutional real estate and structured product landscape.
Products and Services
Statval™ Multifamily Data and Analytics System
Statval™ Database
A proprietary SQL Azure cloud environment containing data for approximately 45,000 multifamily loans and 150,000+ serialized operating statements. Database updates are performed monthly to reflect the latest CMBS reporting and market-level research.
Comparative Research
Geo-mapped demographic integration with US Census and FHFA data to create precise "Comp Sets" based on vintage, location, and property attributes.
Operational Alpha™ Diagnostics
A forensic 7-step diagnostic process that identifies untapped asset equity by benchmarking property-level P&Ls—including Payroll, Utilities, and R&M—against verified peer medians to quantify and remediate Net Operating Income (NOI) leakage.
Risk Management Consulting and Financial Engineering
Structured Finance
Analysis of CMBS waterfall mechanics, Freddie Mac K-Deal risk profiles, Agency and Non-Agency RMBS, ABS, CRE, CDO, and complex equity structures.
Loan Portfolio Risk Management
Historical stratification, forward projections, and stress-testing of loan portfolios and consumer loan originations using advanced quantitative risk models.
Financial Engineering
Custom development of Excel/VBA and SQL-based modeling tools for firms requiring high-precision forecasting and proprietary risk-assessment frameworks.
Expert Witness & Litigation Support
Commercial Real Estate Disputes
Deployment of the Statval™ and related databases to provide empirical, loan-level evidence for complex valuation disputes and fiduciary duty breaches.
Patent Litigation
Experience as inventor with active participation with counsel for writing, prosecuting, defending, and enforcing financial market patents.
Scientific Reliability
Expert testimony grounded in data, analysis, and PhD-level mathematical verification.
Direct Participation
History of active strategy development and participation in complex financial litigation.
Decades of Senior Expertise
Dr. Hughes is a pioneer in mortgage-backed securities (MBS) and related structured product markets. With a PhD in Mathematics from Princeton University, his first job in was Salomon Brothers in 1986 where he developed first generation prepayment and risk models. Subsequently, he became Senior Managing Director at Bear Stearns where he expanded his career to institutional sales and trading, and then Managing Director at First Union Capital Markets (now Wells Fargo), where he formed and managed structured product research.
Dr. Hughes’ career also includes long-term consulting projects for: Bank of America; Santander Bank; public Mortgage Reit; CMBS special servicer; CMBS defeasance; consumer loan originator and ABS issuer; Freddie Mac K-Deal investment fund.
Strategic Ecosystem
WH Advisory LLC enjoys dedicated longterm working relationships with a National Commercial and Multifamily Real Estate Appraisal Firm and an industry-leading Real Estate Fiduciary Consultant. to provide additional resources and expertise when needed for client projects.
Westrock Appraisal
Dr. Hughes serves as the Research Consultant for Westrock Appraisal (www.westrockappraisal.com), where he integrates advanced AI-driven analytics into certified valuation workflows.
Real Estate Fiduciary Services
He also maintains a long-standing partnership with Real Estate Fiduciary Services (www.refiduciaries.com) to provide institutional asset managers with data, analytics, and performance benchmarking.
Get in Touch
Webster Hughes, PhD
Managing Member