Evaluation Of Mortgage Assets Based On Option Pricing Theory

As economy increasingly developed in our country market today, the bank as a finance major participants activities play a very important role in economic. However, due to the value of mortgage assets can not get reasonable evaluation for a long time, resulting in a considerable part of the bank loans eventually became bad debts, for the Banks and the financial industry, there is a huge threat. How to improve the asset appraisal industry valuation of assets pledged theories and methods have been imminent.Assessment of the current assessment of the mortgage industry is still confined to the traditional asset evaluation theory, methods to assess also the main market approach, cost approach and income approach. These theories and methods have been far failed to meet the real needs assessment activities, especially in our industry started late assessing the situation, the demand for the development of the theory and practice has been far from. Pledge of assets due to the special nature of the purpose of its existence, different from the general assets of the mortgage asset valuation theory of value types, assessment methods as well as to assess the existence of an object are great differences. All of these assessments has resulted in collateral assets stalled state.In this paper, the basic theory and methods to assess two aspects of mortgage assets to assess the value of assets pledged a study, a comprehensive analysis of the particularity of mortgage assets, based on the premise to ensure the safety of bank loans, secured by the assets of a reasonable valuation. The thesis is divided into seven chapters. Which the first chapter discusses the research background significance of the research study as well as the purpose, and also describes the research status at home and abroad for a mortgage asset valuation; Chapter Ⅱ is the valuation of mortgage assets and specificity analysis, focusing on describes the relationship between asset assessment and valuation of mortgage assets, in addition to the mortgage, pledge of assets and loan concept elaborated; Chapter Ⅲ is the types of collateral value of the assets selected by the analysis of various types of value to determine the value of the type of mortgage the applicability of mortgage assets. Chapter IV is the correlation mortgage option pricing model with the valuation of assets, focuses on the definition of the principle of options and option pricing models, and the other at the end of this chapter the author discusses the mortgage inherent optionality; Chapter V is the option pricing mortgage assets Research in this chapter the authors propose an option pricing method, and demonstrates the applicability of option pricing method; Chapter VI is the pledged asset option pricing method to assess the case, the chapter on the option pricing method through the use of a specific case; Chapter VII is the of the conclusions, in summing up the contents of this paper, based on the conclusions of the study and summarized.