메뉴 건너뛰기
.. 내서재 .. 알림
소속 기관/학교 인증
인증하면 논문, 학술자료 등을  무료로 열람할 수 있어요.
한국대학교, 누리자동차, 시립도서관 등 나의 기관을 확인해보세요
(국내 대학 90% 이상 구독 중)
로그인 회원가입 고객센터 ENG
주제분류

추천
검색

논문 기본 정보

자료유형
학술저널
저자정보
저널정보
한국보험학회 보험학회지 보험학회지 제114호
발행연도
2018.1
수록면
57 - 84 (28page)

이용수

표지
📌
연구주제
📖
연구배경
🔬
연구방법
🏆
연구결과
AI에게 요청하기
추천
검색

초록· 키워드

오류제보하기
The paper analyzes the expected yield of mortgage loan provider and the money’s worth of borrower so as to evaluate the pricing adequacy of the shared mortgage loan program which was newly introduced by the Korean government in 2013. For the research purpose, we first develop a spreadsheet model to identify cash flows of the mortgage loan program for 20 years up to the maturity. In addition, we conduct Monte Carlo simulation analyses using stochastic process of home price and interest rate in order to examine if the program is fairly priced for low income households who borrow money to purchase their own houses. From the analyses, we found that the shared mortgage products such as shared appreciation mortgage(SAM) and shared equity mortgage(SEM) were priced in favor of loan provider rather than borrower who wants to purchase his (or her) own house with mortgage loan under a normal scenario on the future house value based on the past experience of the Korean housing market. Another finding of the research is that lender’s yield of SEM will have a much higher risk as compared to the gain of SAM. Nevertheless, such advantage of lender in the normal scenario can also be easily reversed to the favor of borrower under an adverse scenario where average increase in house value is assumed to be zero. This implies that the pricing adequacy of the shared mortgage products depends greatly on the future movement of house value mortgaged for the loan. Therefore, the government should keep its eyes on the movement of house value in the real estate market so as to avoid the collapse of the shared mortgage program.

목차

등록된 정보가 없습니다.

참고문헌 (0)

참고문헌 신청

함께 읽어보면 좋을 논문

논문 유사도에 따라 DBpia 가 추천하는 논문입니다. 함께 보면 좋을 연관 논문을 확인해보세요!

이 논문의 저자 정보

최근 본 자료

전체보기

댓글(0)

0