An Option-Based Pricing Model of Private Mortgage Insurance
运用期权定价技术分析抵押合同或经济环境变化对抵押贷款保险价值的影响，发现贷款价值比变化时实际保险价格变动远小于理论预期，为保险公司提供反映经济环境和合同条款的估计价格。
This study uses option-pricing techniques to determine the impact of changes in the mortgage contract or in the economic environment on mortgage insurance values. We found that actual variations in insurance prices for changes in the loan-to-value ratio are substantially less than those called for in theory. This article demonstrates that option-based pricing models can play a useful role in providing firms with estimated insurance prices that reflect the economic environment and the terms of the mortgage contract.