Reverse Mortgage Contracts in U.S. and China
- 주제(키워드) Reverse Mortgage Contracts in U.S. and China
- 발행기관 아주대학교
- 지도교수 성재영
- 발행년도 2015
- 학위수여년월 2015. 8
- 학위명 석사
- 학과 일반대학원 금융공학과
- 실제URI http://www.dcollection.net/handler/ajou/000000020428
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
Reverse mortgage is attracting more and more people’s attention as an important financial instrument nowadays. It has been developed quite well by countries such as USA. Taking the practice of reverse mortgage in USA as reference, this paper explores the development and improvement of reverse mortgage in USA. In addition, it discusses the current reverse mortgage insurance launched recently in China as well as the application of Black-Scholes-Merton formula in the pricing problem. Finally it puts forward recommendations according to local situation for better improving reverse mortgage.
more목차
Abstract………………………………………………………… 1
Contents………………………………………………………… 2
1 Introduction 1
2 U.S. Reverse Mortgage 3
2.1 Home Equity Conversion Mortgage 3
2.2 Home Keeper 8
2.3 Financial Freedom 8
2.4 Government Policies and Regulation 9
2.5 Securitization 10
3 China Situation Analysis 12
3.1 Compare with USA Situation 12
3.2 First Reverse Mortgage Product in China 14
3.3 Option Pricing Model for Redeemable & Non-Redeemable Products 15
3.4 Recommendations 20
4 Conclusion 22
References 23
