野村資本市場研究所|リバースモーゲージに求められる政府の役割-米国ホーム・エクイティ・コンバージョン・モーゲージ(HECM)誕生の経緯と意義-(PDF)

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1 HECM 1. FHA HECM 1970 FHA 1989 HECM 2. HECM GSE HECM 3. HECM ,

2 2012 Summer , , , ILO 1 84

3

4 2012 Summer % Property Tax Deferral ProgramPTD 1978 Deferred Payment Loan Program DPLsDepartment of Local Affairs and Development 1979 San Francisco Development Fund Federal Home Loan Bank Board Reverse Annuity Mortgage: RAM 5 RAM 6 RAM

5 Equi-Pay Broadview Savings & Loan RAM Ken Scholen Bureau on Ageing National Center for Home Equity Conversion NCHEC Federal Housing AgencyFHA FHA Housing and Urban Development Department HUD FHA1981 U.S. House Select Committee on Aging1982 U.S. Senate Special Committee on Aging Federal Council on Aging FHA HUD FHA ,332 life-time 87

6 2012 Summer 1982 Garn-St. Germain Depository Institution ACT of Social Security Administration 1984 IRMA American HomesteadIRMA IRMA Shared Appreciation 8 IRMA Providential Home Income PlanCapital Holding Transamerica Transamerica HomeFirst HouseMoney

7 Home Equity Partner Financial Freedom Union Labor Insurance Freedom Plan HECM FHA HECM The Housing and Community Development Act of HECM FHA 2,500 HECM HECM HUD 80 NPO 1965 HECM 10 Cash Account Equity Guard

8 2012 Summer HECM HUD HECM HECM HECM 62 HECM HECM HUD HUD HECM HUD Longevity risk 90

9 HECM HECM FHA HECM HECM 2, HUD HECM 15 Truth in Lending Act HECM 1988 Fannie Mae HECM 18 HECM 1938 Government sponsored enterprisegse HECM FHA NRMLA HECM 1992 HECM 16 HECM 17 HECM 18 GSE Freddie Mac 91

10 2012 Summer 3 (2000 ) HUD HECM HECM 1995 HECM HECM FHA 95 HUD 115 FHA HECM

11 1989 Wendover Funding HECM HECM HECM HECM HECM 1990 FHA , International Mortgage ARCS ARCS Mortgage HECM HECM HUD HUD Appropriation Act of 4 HECM HUD 93

12 2012 Summer ,000 HECM 1999 HECM 20 HECM , HECM Lehman Brothers 35 HECM HECM HUD Ginnie Mae HECM HMBS HECM HMBS HECM HECM HUD

13 1999 HECM HECM HECM Rhode Island Housing and Mortgage Finance 5 HECM HUD 6 HECM HUD 95

14 2012 Summer 75 HECM HECM AARP 21 HECM HECM HECM MMI HECM 21 AARP AARP 1986 Home Equity Information Center American Association of Retired Person AARP 96

15 HECM HECM Bruce E. Foote (2010):Reverse Mortgage:,Background and Issues Donald L. Redfoot, Ken Scholen, S.Kathi Brown (2007): Reverse mortgages, Niche Production or Mainstream Solution? Report on the 2006 AARP National Survey of Reverse Mortgage Shoppers Ginnie Mae (2010): Report to Congress Fiscal Year 2010 Reverse Mortgage Education: History of the Reverse Mortgage < mortgage> Senior Reverse Mortgage : History of Reverse Mortgages < mortgage > U.S. Department of Housing and Urban Development (1992): Preliminary Evaluation Report of FHA s Home Equity Conversion Mortgage Insurance Demonstration U.S. Department of Housing and Urban Development (1995): Evaluation Report of FHA s Home Equity Conversion Mortgage Insurance Demonstration U.S. Department of Housing and Urban Development (2000): Evaluation Report of FHA s Home Equity Conversion Mortgage Insurance Demonstration U.S. Department of Housing and Urban Development (2007): A Turning Point In the History of HUD s Home Equity Conversion Mortgage Program Vishaal B. Bhuyan (2010), Reverse Mortgages and Linked Securities: The Complete Guide to Risk, Pricing, and Regulation 22 () 97

16 2012 Summer National Reverse Mortgage Lenders Association (2012): Testimony of Peter H. Bell, President & CEO National Reverse Mortgage Lenders Association before the Subcommittee on Insurance, Housing & Community Opportunity House Financial Services Committee ()

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