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Reverse Mortgage Info Knowledgebase » Listing Details |
| ID: | 107 |
| Title: | Home Equity Conversion Mortgage Terminations: Information To Enhance the Developing Secondary Market - http://www.huduser.org/periodicals/cityscpe/vol9num1/ch1.pdf |
| Pagerank: | N/A |
| Description: | This article examines loan terminations under the U.S. Department of Housing and Urban Development’s (HUD’s) reverse mortgage insurance program formally known as the Home Equity Conversion Mortgage (HECM). Reverse mortgage terminations are primarily driven by the timing of borrower deaths and voluntary loan payoffs associated with moving out of the mortgaged property. Thus, borrower age and type (specifically single female or male or couples) affect reverse mortgage termination rates. The research described in this article generates annual hazard and survival rate tables for HECM loans grouped by age and borrower type and examines the impact assignments have on expected termination experiences for these groups. It finds that assignments begin to impact hazard and survival rates after policy year six for all borrowers and as early as policy year four for older borrowers. Additional findings related to borrower age and borrower type are discussed. |
| Category: | Academic Research: Reverse Mortgages: Program Design and Analysis |
| Link Owner: | US Department of HUD |
| Date Added: | May 11, 2007 01:19:00 PM |
| Number Hits: | 29 |
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