LEADER 05231nam 22005773u 450 001 9910789893303321 005 20230725032401.0 010 $a1-299-25265-6 010 $a1-118-24177-0 035 $a(CKB)2670000000133004 035 $a(EBL)818213 035 $a(OCoLC)769342394 035 $a(MiAaPQ)EBC818213 035 $a(EXLCZ)992670000000133004 100 $a20130418d2011|||| u|| | 101 0 $aeng 135 $aur|n|---||||| 200 10$aAARP Reverse Mortgages and Linked Securities$b[electronic resource] $eThe Complete Guide to Risk, Pricing, and Regulation 210 $aHoboken $cWiley$d2011 215 $a1 online resource (213 p.) 225 1 $aWiley Finance 300 $aDescription based upon print version of record. 311 $a1-118-24170-3 327 $aReverse Mortgages and Linked Securities: The Complete Guide to Risk, Pricing, and Regulation; Contents; Preface; REVERSE EQUITY TRANSACTIONS; NOTE; Acknowledgments; Part I: Reverse Mortgage Basics; Chapter 1: Reverse Mortgage Primer; LOAN DISBURSEMENTS; OVERVIEW OF LENDER CHALLENGES; SUMMARY; Chapter 2: The History of Reverse Mortgages: An Insider's View; FORMATIVE YEARS; PRIVATE PROGRAMS; FIRST LIFETIME REVERSE MORTGAGES; FANNIE MAE STAKES A CLAIM TO THE MARKETPLACE; ROOTS OF THE SECURITIZATION OF REVERSE MORTGAGES; SUMMARY; NOTES; Chapter 3: HECM Explained 327 $aLEGISLATIVE HISTORY AND PROGRAM FUNDAMENTALSDISBURSING FUNDS AND CALCULATING LOANS AND INTEREST; CHANGES TO THE PROGRAM FOLLOWING THE 2008 ACT; CONSUMER-FOCUSED ELEMENTS OF THE PROGRAM; SUMMARY; NOTES; Part II: Underwriting and Risk Analysis; Chapter 4: Underwriting Reverse Mortgages; UNDERWRITING LIFE EXPECTANCY; LIFE SETTLEMENT VERSUS REVERSE MORTGAGE UNDERWRITING; SIMPLICITY OF THE CURRENT REVERSE MORTGAGE UNDERWRITING PROCESS; WHY DOES UNDERWRITING MATTER?; PROPOSED ELEMENTS OF REVERSE MORTGAGE UNDERWRITING; SUMMARY; Chapter 5: Risk Mitigation from Existing and Proposed Financial Products 327 $aREVERSE MORTGAGE RISKSAGENCY VERSUS NONCONFORMING LOANS; SUMMARY; NOTES; Chapter 6: Longevity Risk and Fair Value Accounting; LONGEVITY COST CALCULATOR AS A LOAN UNDERWRITING AND PRICING TOOL; REVERSE MORTGAGE LOAN PRICING USING THE LONGEVITY COST CALCULATOR; EXISTING ACCOUNTING FRAMEWORK; SUGGESTED GAAP-COMPLIANT METHODOLOGY TO STANDARDIZE LIFE SETTLEMENT UNDERWRITING; SUMMARY; NOTES; Chapter 7: Risk Mitigation; HEDGING CROSSOVER COMPONENTS IN THE CAPITAL MARKETS; INSURANCE SOLUTIONS; SUMMARY; NOTE; Chapter 8: Criteria for Rating U.K. Reverse Mortgage-Backed Securities 327 $aOVERVIEW OF REVERSE (EQUITY RELEASE) MORTGAGESREVERSE MORTGAGE-BACKED SECURITIZATION; MORTALITY ASSUMPTIONS; PREPAYMENT ASSUMPTIONS; HOUSE PRICE INCREASE ASSUMPTIONS; COSTS AND SALE PERIOD; SUMMARY; Part III: Tax Treatment; Chapter 9: U.S. Federal Income Tax Aspects of Reverse Mortgages; WHAT IS A REVERSE MORTGAGE?; DEDUCTIBILITY OF INTEREST PAYMENTS ON REVERSE MORTGAGES; SECURITIZATION OF REVERSE MORTGAGE LOANS VIA REMIC STRUCTURES; PRACTICAL OBSERVATIONS REGARDING INVESTMENT REVERSE MORTGAGE REMIC SECURITIES; SUMMARY; NOTES; Part IV: Reverse Mortgages in Context 327 $aChapter 10: Unlocking Housing Equity in JapanIMPLEMENTATION IN THE JAPANESE CONTEXT; FEASIBILITY OF REVERSE MORTGAGES IN JAPAN; SUMMARY; NOTES; Chapter 11: The Secondary Market in Home Equity Conversion Mortgages; THE REVERSE MORTGAGE TO LIQUIDATE HOME EQUITY; HECM: A FINANCIAL INNOVATION; CASH FLOWS, RISK, AND UNCERTAINTY; THE SECONDARY MARKET FOR HECM; HECM SECURITIZATION; LONGEVITY RISK EMBEDDED IN HECM; THE CONSTRAINTS OF THE UNDERLYING ASSET; CONCLUDING REMARKS; SUMMARY; Appendix A: Housing Wealth Among the Elderly; WEALTH IN HOUSING; OWNER-OCCUPANCY RATES; HOW RISKY IS HOUSING WEALTH? 327 $aDO THE ELDERLY DECUMULATE THEIR HOUSING WEALTH? 330 $aAARP Digital Editions offer you practical tips, proven solutions, and expert guidance. Reverse Mortgages and Linked Securities is a contributed title comprising many of the leading minds in the Home Equity Conversion Mortgages (HECM) industry, including reverse mortgage lenders, institutional investors, underwriters, attorneys, and regulators. This book begins with a brief history of reverse mortgages, and quickly moves on to discuss how the industry has evolved-detailing the players in these markets as well as the process. It discusses the securitization of reverse mortgages 410 0$aWiley Finance 517 $aWiley Finance Ser. 517 $aReverse Mortgages 517 $aWiley Finance, 752 517 $aWiley Finance 517 $aAARP Reverse Mortgages and Linked Securities : The Complete Guide to Risk, Pricing, and Regulation 517 $aAARP 606 $aMortgage loans, Reverse -- United States 606 $aMortgage loans, Reverse 615 4$aMortgage loans, Reverse -- United States. 615 4$aMortgage loans, Reverse. 676 $a332.7/22 676 $a332.722 700 $aBhuyan$b Vishaal B$01584722 801 0$bAU-PeEL 801 1$bAU-PeEL 801 2$bAU-PeEL 906 $aBOOK 912 $a9910789893303321 996 $aAARP Reverse Mortgages and Linked Securities$93868675 997 $aUNINA