| Summary: | 碩士 === 國立政治大學 === 地政學系碩士在職專班 === 103 === Abstract
For the purpose of improving the aged living circumstances and ensuring aging in home, “The Trial Program of Reverse Mortgage (Home Equity Conversion Mortgage)” has been enacted by Ministry of the Interior on April 3rd, 2013, since the coming issues of current expenses, medical care, and social welfare…etc. in the aged society, to implement Reverse Mortgage by assisting older homeowner in conversing realty to monthly paid pension.
Based on the perspective of Financial Industry - the Supplier, the theories in Literature Review, depth interviews and questionnaire survey, this study adopted Analytic Hierarchy Process and applied （Expert Choice version 2000 ）to discuss the assessment factors and the indexes of the business evaluation in Reverse Mortgage the suppliers concerned. The assessment factors are summed up as “applicant”, “real estate”, “financial feasibility”, and “contract”; as for the 20 indexes of the factors which are derived by practical interviews are like “age”…etc.. On top of the conclusions, this study provides financial professionals the references of the principle of evaluation and management in Reverse Mortgage operation.
Per the results of questionnaire survey, financial feasibility is the first priority of the evaluation factors financial professionals considered, which weights 29.9%. As for the indexes of factors, the Government guarantee has the highest priority, 10.8%, which is twice as weighted as other indexes. On top of the results, financial balance would be the most important condition of financial product business.
This study suggests the relative operation would be focused on： 1. Applicant： unlimited heirs, authorization of unconsciousness；2. Contract： the object would be taken over by the Government when its value is lower than breakeven point, self-liquidating loan of the applicant or the heir； 3. Financial feasibility： the Government guarantee, risk sharing in reinsurance, could be accepted by most of applicants, and decrease the business risks to attract financial professionals. Reverse Mortgage could be operated by horizontal alliance and financial derivatives as well to decrease business risks and operation cost, to achieve the goal of the aged living improving and aging in home.
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