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Title: The Unified Mortgage Model Based on Inflation and Prepayment
Source: International Conference on Engineering and Business Management 2012(Part 4 Urban Management and Financial Investment) (pp 2887-2890)
Author(s): Chenggang Lu, Department of Applied Mathematics, Institute of Science, Zhejiang University of Technology
Abstract: This paper takes inflation and prepayment into consideration to build a unified analysis framework on the profit of mortgage loan. And in the paper one principle is discovered to guide novel payment modes designing in increasing expected loan profit when interest rate mechanism satisfies some reasonable condition. Under that condition, the principle on adjustments of mortgage profit does not depend on any probability distribution of stochastic prepayment. The discussion in the paper is very helpful for prepayment risk management.
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