Download or read book Risk Management and Payout Design of Reverse Mortgages written by Daniel Cho and published by . This book was released on 2013 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the risk and profitability of reverse mortgages with lump-sum or income stream payments from the lender's perspective. Reverse mortgage cash flows and loan balances are modeled in a multi-period stochastic framework that allows for house price risk, interest rate risk and risk of delayed loan termination. A VAR model is used to simulate economic scenarios and to derive stochastic discount factors for pricing the no negative equity guarantee embedded in reverse mortgage contracts. Our results show that lump-sum reverse mortgages are more profitable and require less risk-based capital than income stream reverse mortgages, which explains why this product design dominates in most markets. The loan-to-value ratio, the borrower's age, mortality improvements and the lender's financing structure are shown to be important drivers of the profitability and riskiness of reverse mortgages, but changes in these parameters do not change the main conclusions.
Download or read book Reverse Mortgages and Linked Securities written by Vishaal B. Bhuyan and published by John Wiley & Sons. This book was released on 2010-10-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: An institutional investor's guide to the burgeoning field of reverse mortgage securitization Reverse Mortgages and Linked Securities is a contributed title comprising many of the leading minds in the Home Equity Conversion Mortgages (HECM) industry, including reverse mortgage lenders, institutional investors, underwriters, attorneys, and regulators. This book begins with a brief history of reverse mortgages, and quickly moves on to discuss how the industry has evolved-detailing the players in these markets as well as the process. It discusses the securitization of reverse mortgages and other linked securities and includes coverage of pricing techniques and risk mitigation. This reliable resource also takes the time to cover the current regulatory environment of the HECM market, which is constantly changing due to the current state of the real estate market. Highlights specific strategies that will allow institutional investors to benefit from the resurgence of reverse mortgages and linked securities One of the only guides to reverse mortgages and linked securities targeted towards institutional investors interested in securitized products If you want to make the most of reverse mortgages and linked securities, take the time to read this book.
Download or read book Reverse Mortgages written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2010 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reversing the Trend The Recent Expansion of the Reverse Mortgage Market written by and published by DIANE Publishing. This book was released on with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Reverse Mortgage Residential Foreclosure Program written by Anthony Fields and published by Dog Ear Publishing. This book was released on 2006-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Reverse Mortgage Residential Foreclosure Program was designed with the understanding that there are SHARKS out there waiting to take your home when you are facing forclosure. The Reverse Mortgage Residential Foreclosure Program is designed to be considered, something like, your super hero. A super hero that comes to rescue you from foreclosure when it looks like there's no hope, and everything else has failed. The Reverse Mortgage Residential Foreclosure Program is Simple, Plain and EASY to understand.
Download or read book Real Estate Derivatives written by Radu S. Tunaru and published by Oxford University Press. This book was released on 2017-03-29 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the latest concepts and models in real-estate derivatives, the new frontier in financial markets. The importance of real-estate derivatives in managing property price risk that has destabilized economies frequently over the last hundred years has been brought into the limelight by Robert Shiller. In spite of his masterful campaign for the introduction of real-estate derivatives, these financial instruments are still in a state of infancy. This book aims to provide a state-of-the-art overview of real-estate derivatives, covering the description of these financial products, their applications, and the most important models proposed in the literature. In order to facilitate a better understanding of the situations when these products can be successfully used, ancillary topics such as real-estate indices, mortgages, securitization, and equity release mortgages are also discussed. The book examines econometric aspects of real-estate index prices time series and financial engineering non-arbitrage principles governing the pricing of derivatives. The emphasis is on understanding the financial instruments through their mechanics and comparative description. The examples are based on real-world data from exchanges or from major investment banks or financial houses in London. The numerical analysis is easily replicable with Excel and Matlab.
Download or read book Reverse Mortgages for Senior Homeowners written by Bob LaFay and published by Dearborn Trade Publishing. This book was released on 2003 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book AARP Reverse Mortgages and Linked Securities written by Vishaal B. Bhuyan and published by John Wiley & Sons. This book was released on 2011-12-19 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: AARP Digital Editions offer you practical tips, proven solutions, and expert guidance. Reverse Mortgages and Linked Securities is a contributed title comprising many of the leading minds in the Home Equity Conversion Mortgages (HECM) industry, including reverse mortgage lenders, institutional investors, underwriters, attorneys, and regulators. This book begins with a brief history of reverse mortgages, and quickly moves on to discuss how the industry has evolved-detailing the players in these markets as well as the process. It discusses the securitization of reverse mortgages and other linked securities and includes coverage of pricing techniques and risk mitigation. This reliable resource also takes the time to cover the current regulatory environment of the HECM market, which is constantly changing due to the current state of the real estate market. Highlights specific strategies that will allow institutional investors to benefit from the resurgence of reverse mortgages and linked securities One of the only guides to reverse mortgages and linked securities targeted towards institutional investors interested in securitized products If you want to make the most of reverse mortgages and linked securities, take the time to read this book.
Download or read book Revere Mortgages written by Mathew J. Scire and published by DIANE Publishing. This book was released on 2010-02 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reverse mortgages -- a type of loan against home equity available to seniors ¿ are growing in popularity. A large majority of reverse mortgages are insured by HUD under its Home Equity Conversion Mortgage (HECM) program. The Housing and Economic Recovery Act of 2008 made several modifications to the HECM program, including changes in how origination fees are calculated and an increase in the loan limit. This report examines: (1) how these changes have affected lenders¿ plans to offer reverse mortgages; (2) how the changes will affect borrowers; and (3) actions HUD has taken to evaluate the financial performance of the HECM program. Includes recommendations. Charts and tables.
Download or read book Reverse Mortgages For Dummies written by Sarah Glendon Lyons and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs. Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to: Decide if a reverse mortgage is right for you Shop for the best reverse mortgage products Find out if your home is eligible Find a counselor who can help you Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including: Special advice for adult children helping their senior parents secure a loan How to get a reverse mortgage and keep your second home legally Property requirements and financing fees Selecting among a multitude of lenders Spending and estimating leftover equity Sharing the decision-making process with family and loved ones If you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.
Download or read book Reverse Mortgage written by Daniel Shore and published by Freegulls Publishing House. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: A reverse mortgage allows homeowners aged 62 or older to access a portion of the equity they have built up in their homes over the years. The amount that can be borrowed depends on factors such as the homeowner's age, the appraised value of the home, and current interest rates. One of the key features of a reverse mortgage is that it does not require monthly payments like a traditional mortgage does. Instead, the loan balance increases over time as interest accrues on the borrowed amount. The homeowner retains ownership of the home and can continue to live in it as long as they comply with the loan terms, which typically include maintaining the property and paying property taxes and homeowners insurance. Repayment of the loan is usually deferred until the homeowner moves out of the home permanently, sells the home, or passes away. At that point, the loan must be repaid, usually through the sale of the home. Any remaining equity after the loan is repaid belongs to the homeowner or their heirs. Reverse mortgages can be a valuable financial tool for seniors who need additional income during retirement or want to access their home equity without selling their home. However, they also come with certain risks and considerations, such as potential fees, interest rates, and the impact on inheritances. It's essential for homeowners to carefully consider their options and consult with a financial advisor before deciding if a reverse mortgage is right for them.
Download or read book The New Reverse Mortgage Formula written by Tom Kelly and published by Wiley. This book was released on 2005-03-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today’s reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.
Download or read book Aarp Reverse Mortgages and Linked Securities written by Bhuyan and published by . This book was released on 2011-10-04 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Reverse Mortgage Revealed written by Mike Roberts and published by . This book was released on 2020-05-30 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated for 2021! The reverse mortgage is a fantastic financial tool, but it's not the perfect solution for everybody. Is it right (or wrong) for you? Author Mike Roberts is the founder of MyHECM.com and a successful veteran of the reverse mortgage industry. Writing in plain language, Roberts cuts through all the nonsense, rumors, and hype you may have heard about reverse mortgages. There are no sales pitches here! You'll get the inside scoop about how a reverse mortgage really works. Well-written and packed with insider info and insights The Reverse Mortgage Revealed is well-written, easy to understand, and jam packed with information and insights that only an experienced industry professional can offer. You'll discover: How a reverse mortgage really works. Who should (and shouldn't) get a reverse mortgage. Common myths and misconceptions. Little-known insider tips and tricks the lenders don't tell you (and you probably won't learn anywhere else). How to increase your payout and reduce closing costs (this alone is worth the cost of the book). What payout options are available and how they work. What pitfalls to avoid. Why some applicants get approved and some don't. How to finance a home purchase without a mortgage payment (yes, this is for real!). What to expect during the application, approval, and closing process. This book also includes detailed case studies based on real-life scenarios that tie key concepts and terms together. You'll see for yourself how a reverse mortgage can be used to live a more enjoyable and financially secure retirement. Grab your copy now! You've found the reverse mortgage book you're looking for! Grab your copy now and get the inside scoop on how a reverse mortgage really works. About the author Mike Roberts is a blogger, author, and veteran of the reverse mortgage industry. Roberts is also the founder of MyHECM.com, a leading online resource for seniors, their families, and their advisers to learn about the reverse mortgage. Roberts has over a decade of mortgage lending experience and has helped hundreds of seniors get reverse mortgages. P.S. Still not sure this is the reverse mortgage book for you? Click the cover image at left and read an excerpt of the book for yourself. You'll see that it's well-written, high quality, and full of fantastic insider information.
Download or read book Reverse Mortgages written by Matthew J. Scire and published by DIANE Publishing. This book was released on 2009-12 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reverse mortgages -- a type of loan against the borrower's home that is available to seniors -- are growing in popularity. However, concerns have emerged about the adequacy of consumer protections for this product. Most reverse mortgages are made under the HUD Home Equity Conversion Mortgage (HECM) program. HUD insures the mortgages, which are made by private lenders, and oversees the agencies that provide counseling to prospective HECM borrowers. This report examines issues and federal activities related to: (1) the potential benefits and costs of HECMs to borrowers; (2) misleading HECM marketing; (3) the sale of potentially unsuitable products in conjunction with HECMs; and (4) oversight of HECM counseling providers. Illus.
Download or read book Your New Retirement Nest Egg written by Ken Scholen and published by N C H E Press. This book was released on 1996 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Reverse" mortgages turn every home into a new source of RETIREMENT INCOME, without having to sell or make monthly loan payments. This "ideal study book rates a ten"--(SF Examiner) & "guides homeowners through the reverse mortgage maze"--(Minneapolis Star Tribune). It's "an easily understood nuts & bolts guide"--(N.Y. Times) that's "clearly written"--(Library Journal). It compares all the newest varieties of REVERSE MORTGAGES: how much cash you can get, what it really costs, what to look out for. By "The LEADING AUTHORITY on reverse mortgages"--(L.A. Times). Practical STUDY GUIDE for retirees & pre-retirees. Also of interest to attorneys, accountants, financial planners, care managers, senior service providers & adult children of aging parents. A basic reference & directory, with 58 tables, locations, phone numbers. Includes Glossary, Bibliography, Index, Appendixes. Order from: Baker & Taylor, Brodart, The Bookmen, Blackwell, or directly from NCHEC Press, Suite 115, 7373 147th St., W., Apple Valley, MN 55124; Telephone 612-953-4474.
Download or read book Reverse Mortgages written by David W. Rasmussen and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the (slowly) emerging reverse mortgage market from the perspective of this financial planning and risk management perspective. Agency problems, moral hazard issues, adverse selection, and uncertainty about housing market conditions are factors that affect the development of the reverse mortgage market because they undermine the incentive compatibility between buyers and sellers. These issues are examined in the context of the financial planning perspective. The use of housing equity as a financial planning and risk management tool is partly determined by public policies not directly related to reverse mortgages per se. Factors that may have a substantial impact on the reverse mortgage market are explored in this paper. Among them are tax policies that tend to affect the speed with which households increase home equity (e.g., tax policies that make 15 year mortgages relatively more attractive), developments in the private long-term care insurance market, and public quot;safety-netquot; policies that influence the choice between in-home care versus nursing home care.
