Protective's experience in commercial and real estate lending has been excellent as a result of both careful management and an emphasis on specialized segments of the market. Over a twenty-year period, the Company has experienced, on a cumulative basis, no significant loss of principal from loans on commercial real estate. At the same time, yields on the mortgage loan portfolio have consistently been among the best in the industry.

Protective specializes in making mortgage loans on either credit-oriented or credit-anchored commercial properties. Generally, these loans are for strip shopping centers anchored with long-term leases by one or more strong regional or national retail stores. These centers provide the basic necessities of life such as food, medicine and clothing and have performed well in changing economic environments. Protective's loans on office buildings are primarily on small owner-occupied properties with personal guarantees from the owners.

The following links may provide valuable information for you:
Mortgage Bankers Association of America
Bloomberg.com
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