Research On The Endowment Pattern Of Domestic Urban Housing Reverse Mortgage Loan

Population aging is the inevitable result of social economic development in a country, it is auniversal social problem in today’s world. Especially in twenty-first Century, China faces a moresevere problem of the population aging and social pressures are increasing. In order to resolvethe problem and innovate the financial mode, the paper put forward research on our country cityhousing reverse mortgage loan operation mode. According to statistics, the city elderly whoprivate housing is more involved in the characteristics of the reverse mortgage loan operationmode. Our country is facing the not perfect social security system, pension fund gap, traditionalpension mode function that is changed infirmly waiting for grim reality, and the development ofsocial economy and the opening culture make people’s consumption consciousness and lifeattitudes change. only reling on old age pension cannot guarantee the elderly living in old age,under the background of this research and analysis, this paper mainly follow three aspectsresearch.Part one: The theory part. This part is divided by two chapters to write, firstly, from thehousing reverse mortgage loan for the background and research significance, to clarify the valueof research; Then the thesis analyzes the research method and structure arrangement, as a way ofthinking of this text research; Finally, this paper raises the research object and the conceptundertook elaborating.Part two: The combination part of theory and empirical analysis. This part is divided intothree chapters to write which is key point of this article. Firstly, we find out the reverse mortgageoperation mode by analysising foreign research results and carrying on the comparison; Then inthe theory and practice of support,we analysis the party building of the operation mode andoperation mechanism. Due to the reverse mortgage loans from mortgage, considering lendinginstitutions may face a lifetime risk and older people may face the loan not reaching thedesignated position etc. Participation in addition to commercial banks, but also needs therelevant government departments, insurance agencies, intermediary organizations, evaluationagencies and multilateral intervention, on this basis, the design gives a kind of pension productsaccording with our country national condition. Finally, we design different loan options pricingresearch according to the different age groups. we use insurance actuarial model priceforeclosure products and use the option model price product that have the right of redemption tofind a loan scheme more suitable for the elderly.Part there:The part of conclusion and forecast. We mainly summary the article to find out the deficiency, in order to more in-depth studies in the future. Finally, we put forward ourcountry city housing reverse mortgage development prospects and problems. Because this paperis related to the more models, both financial and statistics, So in the process of data processingwe obtained price sequence of growth rate and Volatility by the moment estimation method onthe collected real data, solve multiple regression equations by using Matlab software, Find outthe elderly mortality probability by according to the insurance actuarial formula and combininglife table of mortality of elderly and use The option theory on reverse mortgages, constructs anew option pricing model.The gradual development market economy and rate rise ceaselessly of housingliberalization create favorable conditions for our country ‘s development of housing reversemortgage loan. Through the foreign successful experience of housing reverse mortgage loan, Beconfirmed this pension finance product is more mature and effective, this was confirmed by amore mature and effective endowment financial products, It can solve the problems of life for thepart of elderly people. At present from our national condition and drawing lessons from foreignexperience in the successful running, it is necessary to design one kind of housing reversemortgage loan operation mode which adapt to our country.