Pricing Default and Prepayment Risks of Fixed Rate Mortgages in Turkey
Ozgenay Cetinkaya
Broschiertes Buch

Pricing Default and Prepayment Risks of Fixed Rate Mortgages in Turkey

An Application of Explicit Finite Difference Method

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The mortgage system has been used for many years in many countries of the world. Although the system has undergone many changes over the passing years, the basics remain the same. So, it can be thought that the earlier systems form the basis of today's mortgage system even though it represents some differences in practice among the countries. However, this system is very new for Turkish financial market as compared with developed countries. The aim of this study is estimating the default and prepayment risk of mortgage contract and pricing the contract in emerging markets like Turkey. In this ...