You are here

TERSİNE MORTGAGE VE TERSİNE MORTGAGE PİYASASINDA RİSK YÖNETİMİ

Journal Name:

Publication Year:

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
Increased needs lead a development at new financial instruments. Mortgage Based Financing System; reverse mortgage, used at developed countries in a common way rather than developing countries, is a financial instrument occurred due to increasing needs. Reverse mortgage which is a regaining way of owned capital, attracts investors for its low credit risk. ‘House Rich’ and ‘Cash Poor’ old households, who are seeking satisfying their financial needs, use reverse mortgage. But application of reverse mortgage embedded some risks for the sides for this transaction.
Abstract (Original Language): 
Artan ihtiyaçlar beraberinde yeni finansal araçların geliştirilmesine neden olmaktadır. Gelişmekte olan ülkelerde uygulaması son derece sınırlı olan ancak gelişmiş ülkelerde yaygın bir şekilde kullanılan gayrimenkul ipoteğine dayalı finansman sistemi; tersine mortgage artan ihtiyaçlar karşısında geliştirilmiş bir finansal araçtır. Tersine mortgage sahip olunan sermayenin bir tür geri kazanım yolu olup, düşük kredi riski ile yatırımcıların ilgisini çekmektedir. Finansal ihtiyaçlarını karşılama amacında olan “konut zengini ancak nakit fakiri” yaşlı insanlar tersine mortgage’yi kullanmaktadırlar. Ancak tersine mortgage uygulaması işleme taraf olanlar açısından bir takım riskleri de bünyesinde barındırmaktadır.
209-225

REFERENCES

References: 

AARP Oregon, Preventing and Responding to Senior Financial Abuse in Oregon,
http://www. dfcs.oregon.gov/pdf/finabuse_eng.pdf, (Erişim Tarihi: 15.12.2006).
Ateş, Kamil (2005), “Amerika Birleşik Devletlerinde Mortgage Uygulamasında
Vergi”, Vergi Dünyası Dergisi, Sayı:285, Mayıs, ss.50-53
Boehm, Thomas P, Ehrhardt, Michael C.(1994), “Reverse Mortgages and Interest
Rate Risk”, Journal of The American Real Estate and Urban Economics
Association, Vol:22, No:25, Summer, pp:387-408
BOYSAL, Haydar (1987), İpotek Sözleşmeleri Piyasası, Başlıca ipotek
Sözleşmeleri Türleri ve İpotek Arkalı Yeni Menkul Kıymet Türlerinin Özellikle
ABD Uygulaması Esas Alınarak İncelenmesi, SPK Raporu
Bradford, Case and Ann B, Schnare (1994), “Preliminary Evaluation of The HECM
Reverse Mortgage Program”, Journal of The American Real Estate and Urban
Economics Association, Vol:22, No:25, Summer, pp: 301-346.
Briefing Book. (2006), “S&P:Reverse Mortgage Securinization Headed for Growth,
Mortgage Banking, Vol:66, No:11, pp: 13-16
Chinloy, Peter and Megbolugbe, Isac F. (1994 ), “Reverse Mortgage: Contractions
and Crosover Risk” Journal of The American Real Estate and Urban Economics
Association, Vol:22, No:25, pp:367-386
Chou, Kee-Lee, Chow, Nelson W.S and Chi, Irish. (2006), “Willingness to Consider
Applying for Reverse Mortgage in Hong Kong Chinese Middle-Aged
Homeowners”, Habitat International, Issue: 30, pp: 716-727
Davidoff, Thomas and Welke, Gerd. (2004) Selection and Moral Hazard in The
Reverse Mortgage Market, http://home.gwu.edu/~alexbapt/Davidoff.pdf, (Erişim
Tarihi: 25.12.2006)
Diventi, Theresa and Herzog, Thomas N. (1990), Modeling Home Equity
Conversion Mortgages, Actuarial Research Clearing House Vol:2,
http://www library.soa.org/library/arch/ 1990-99/ARCH90V23.pdf, (Erişim
Tarihi: 25.12.2006).
Edelstein, Stephanie (1994). Reverse Mortgages: A Resource For Older
Homeowners,
http://www.fanniemaefoundation.org/programs/hpd/pdf/hpd_0404_redfoot.pdf,
(Erişim Tarihi: 14.04.2006).
Edwards, Dougles J.(2005), “Reverse Mortgages Favored, But Seniors Wary”,
Nursing Homes, Vol:54, No:3, pp:19-20
Fannie Mae, Considering Reverse Mortgage?, http://www.fanniemae.com/global/
pdf/homebuyers/ 5stepsforsafety.pdf, (Erişim Tarihi: 14.04.2006).
Fannie Mae, Money from Home: A Guide to Understanding Reverse Mortgages,
http://www.fanniemae.com/global/pdf/homebuyers/moneyfromhome.pdf,
(Erişim Tarihi: 14.04.2006).Federal Trade Commission, Reverse Mortgages: Get The Facts Before Cashing in
Your Home’s Equity FTC Facts for Consumers, (2005), http://www.ftc.gov/
bcp/conline/pubs/homes/rms.pdf, (Erişim Tarihi: 04.05.2006)
Financial Freedom –The Reverse Mortgage Specialist, A Reverse Mortgage Could
Make All The Difference in Your Well-Being, http://www.ffsenior.com/Data/
FileManager/Literature/Selections%2017%20Final%20050505.pdf, (Erişim
Tarihi: 04.05.2006).
Gibler, Karen Martin and Rabianski, Joseph.(1993), “Elderly Interest in Home
Equity Conversion”, Housing Policy Debate, Vol:4, Issue:4, Fannie Mea,
pp:563-588
Guarding the Golden Years: Reverse Mortgage, http://www.consumersunion.org/
finance/rmbwc798.htm, (Erişim Tarihi: 04.05.2006).
HECM, About Reverse Mortgages for Seniors Home Equity Conversion Mortgages
(HECM), http://www.hud.gov/offices/hsg/sfh/hecm/hecmabou.cfm, (Erişim
Tarihi: 15.12.2006).
Home Made Money: A Consumer’s Guide Reverse to Mortgages,
http://www.aarp.org/revmort/list, (Erişim Tarihi: 14.04.2006).
How Do I Get A Reverse Mortgage, http://www.mtgprofessor.com/A%20-
%20Reverse %20Mortgages/how_do_i_get_a_reverse_mortgage.htm,
15.12.2006
Huan, Clarissa and Mahoney, Jim. (2002), “Equity Release Mortgages”, Housing
Finance International, Vol:16, No:4, pp: 29-35
Kistner, William G. (1999), “Reverse Mortgages: A Source of Cash”, Healthcare
Financial Management, Vol:53, No:6, pp: 82-84
Klein, Linda S.and Sirmans, C.F (1993), “Financial Innovation and Development of
Reverse Mortgage Programs”, Benefits Qarterly, Vol:9, No:1, First Quarter, p
p:29-38
Landis, Sarah. (2001), “Full Speed Reverse”, Barron’s, Vol:81, No:2, p:28
Learn About Reverse Mortgage, http://www.financialfreedom.com/ Reverse
Mortgage/Process, (Erişim Tarihi: 14.04.2006).
Mayer, Christopher and Simons, Katerina V. (1993), “Reverse Mortgages and
Liquidity of Housing Wealth, Federal Reserve Bank of Boston, Working Paper,
No: 93-5.
Miceli, Thomas J and Sirmans, CF. (1994), “Reverse Mortgages and Borrower
Maintenance Risk”, Journal of The American Real Estate and Urban Economics
Association, Vol:22, No:25, pp:433-450
Office of Consumer Credit Commissioner, Moving Forward with a Reverse
Mortgage? http://www.occc.state.tx.us/pages/consumer/education/ RevMortArt.
htm, (ErişimTarihi: 14.04.2006)Reverse Mortgage Consumer Tip Sheet (1999) Consumers Union West Coast
Regional Office, http://www.consumersunion.org/finance/revconwc899.htm,
(Erişim Tarihi:14.04. 2006).
Reverse Mortgage, http://www.reversemortgagenation.com/reverse-mortgage.html,
(Erişim Tarihi: 14.04.2006).
Rodda, Devid and Herbert, Chiristopher.(2001), Evaluation Report of FHA’s Home
Equity Conversion Mortgage Insurance Demonastration, Contract No:
DU100C000005978, Task Order No:2.
Song, Han-Suck (2004), “Mortgage and Home Equity Insurances for Home Owners
and Rent Insurance for Tenants, Stockholm, http://www.infra.kth.se/BYFA/
publikationer/ meddelandenOchAvhandlingar/67_paper2.pdf, (Erişim Tarihi:
15.12.2006).
Taylor, Diana L. The Reverse Mortgage, http://www.banking.state.ny.us, (Erişim
Tarihi: 14.04.2006)
Trowbridge Deloitte, Managing Reverse Mortgage Risk, Is it a Journey Without
Risk?,
http://www.deloitte.com/dtt/cda/doc/content/Manageing%20Reverse%20Mortga
ge%20Risk(1)Pdf, (Erişim Tarihi: 15.12.2006).
Uysal, Özge (1999), Piyasa Riskinin Tespitinde Kullanılan Riskteki Değer (Value at
Risk) Yöntemi, Sermaye Piyasası Kurulu Aracılık Faaliyetleri Dairesi, Yeterlilik
Etüdü, Ankara.
Weber, Joseph A and Chang, Echo. “The Reverse Mortgage and Its Ethical
Concerns”, Journal of Personal Finance, Vol:5, Issue:1, 2006, pp:37-52
Wong, Victoria and Paz Garcia, Norma. (1999), There’s No Place Like Home: The
Implications of Reverse Mortgages on Seniors in California, Consumers Union
of U.S., Inc., West Coast Regional Office, http://www.consumersunion.org,
(Erişim Tarihi: 14.04.2006).

Thank you for copying data from http://www.arastirmax.com