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Evaluation of Reverse Mortgage Programs in Korea
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Ma, Seungryul | - |
dc.contributor.author | Deng, Yongheng | - |
dc.date.accessioned | 2013-10-28T06:55:10Z | - |
dc.date.available | 2013-10-28T06:55:10Z | - |
dc.date.issued | 2013-06 | - |
dc.identifier.citation | Seoul Journal of Business, Vol.19 No.1, pp. 137-160 | - |
dc.identifier.issn | 1226-9816 | - |
dc.identifier.uri | https://hdl.handle.net/10371/83791 | - |
dc.description.abstract | We analyze an actuarial model of reverse mortgage programs in Korea. Our analyses provide a comparison between the reverse mortgage loans structured with constant monthly payments and those that make graduate monthly payments which are indexed to the growth rate of consumer prices. Using the total annual loan cost measure, we find that the graduate monthly payments approach is more efficient than the constant monthly payments approach. Our analyses also confirms that younger age cohorts are more sensitive to changes in their loan terms. We propose therefore that the terms of reverse mortgage programs should be structured more conservatively for the relatively younger borrower groups. The results provide useful information to reverse mortgage borrowers considering the various payment options, and pertinent guidelines for the future operation of reverse mortgage systems in Korea and elsewhere. | - |
dc.language.iso | en | - |
dc.publisher | College of Business Administration (경영대학) | - |
dc.subject | Insurance premium structure | - |
dc.subject | Reverse mortgage | - |
dc.subject | Constant monthly payments | - |
dc.subject | Graduate monthly payments | - |
dc.subject | Total annual loan costs rates | - |
dc.title | Evaluation of Reverse Mortgage Programs in Korea | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 마승렬 | - |
dc.citation.journaltitle | Seoul Journal of Business | - |
dc.citation.endpage | 160 | - |
dc.citation.number | 1 | - |
dc.citation.pages | 137-160 | - |
dc.citation.startpage | 137 | - |
dc.citation.volume | 19 | - |
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