THE TIMING OF PREPAYMENT - A THEORETICAL-ANALYSIS

被引：3
|
作者：
KAU, JB [1 ]
KIM, T [1 ]
机构：
[1] CALIF STATE UNIV LOS ANGELES,SCH BUSINESS & ECON,DEPT FINANCE & LAW,LOS ANGELES,CA 90032
来源：
JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1993年 / 7卷 / 03期
关键词：
TIMING OF PREPAYMENT; PREPAYMENT;
D O I：
10.1007/BF01096968
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This article develops the analytical methods necessary to determine the prepayment patterns of a mortgage contract. The most obvious measure of how many years a mortgage is likely to last is the expected time to termination. It is this measure that we most fully explore. However, since the method employed is able to characterize the probability of prepayment in any given time period, the means is provided to determine any measure of the time to termination.
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页码：221 / 228
页数：8
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