固定利率抵押贷款 2.pptVIP

Fixed Rate Mortgage Loan;本章要点;Fixed Rate Mortgage Loan;与抵押贷款相关的重要问题;房地产抵押贷款与按揭贷款的区别;4.1 抵押贷款利率的决定因素;抵押贷款市场利率;4.1.1 实际利率(The Real Rate of Interest );4.1.2 利率与通货膨胀预期Interest Rates and Inflation Expectations;10000元贷款，名义利率为10%，贷款人一年后得11000元。如果通货膨胀率为6%，则实际价值为10377元（11000÷1.06），即抵押贷款的实际利率为3.77%，低于4%。;4.1.3 利率和风险(Interest Rates and Risk );4、法规风险Legislative risk 指市场运行法规环境的变化。;4.1.4 A Summary of Factors Important in Mortgage Pricing(定价);n年期贷款;4.2 抵押贷款付款模式的发展;4.2.2 分期偿还固定本金式抵押贷款CAM;CAM的计算;CAM的特点;Example ;Solution ;4.2.3 充分摊销.等额还款CPM;CPM的特点;CPM的特点;Example . Solution;Analysis of Principal and Interest;Monthly Interest and Principal;未清偿贷款余额(Outstanding loan balance);Outstanding loan balance;4.3 CAM与CPM的比较;付款比较;贷款余额比较;;4.3.2 贷款余的计算(Determining Loan Balance );2、贷款余额因子MBLF法(Monthly Loan Balance Factor );4.3.2 充分摊销贷款的签约费用和有效贷款成本;3、附加筹资费(Additional Finance Charges );2、贷款折扣费用 (loan discount fees);贷款折扣存在的原因;贷款费用和借款成本 ( Loan Fees and Borrowing Costs );4.3.3 年百分比利率APR;4.3.4 贷款费用和提前清偿;收益率和提前偿还时间的关系;不同偿还时间收益率与筹资费用之间的关系;提前清偿罚款(Prepayment Penalties );4.3.5 CPM 的定价(Pricing CPMs);折扣点数计算;4.4 通货膨胀与抵押贷款定价问题;4.4.1 对贷款人和借款人的影响 (Effects on Lenders and Borrowers);抵押贷款付款的真实和名义价值;倾斜效应 (tilt effect);;4.4.2 累进还款式抵押贷款GPM(The Graduated Payment Mortgage );GPM示例;GPM与CPM付款的比较;抵押贷款付款模式比较;GPM的未清偿贷款余额(Outstanding Loan Balance:GPMs );CPMGPMCAM的贷款余额与预期房屋价值比较;GPM和有效借款成本;;THE END