Chen, Hua; Cox, Samuel H.; Wang, Shaun S. - In: Insurance: Mathematics and Economics 46 (2010) 2, pp. 371-384
The purpose of this paper is to build a modeling and pricing framework to investigate the sustainability of the Home Equity Conversion Mortgage (HECM) program in the United States under realistic economic scenarios, i.e., whether the premium payments cover the fair premiums for the inherent...