분야
hwpⅡ. What is Mortgage? : mortgage market of U.S.
Ⅲ. Mortgage market of Korea
Ⅳ. Difference of two countries’ mortgage market
Ⅴ. Discussion
References
MORTGAGE lending is hardly the raciest business, but it has its moments. “It's a bit like the definition of combat: 59 minutes of boredom followed by a minute of sheer terror,” says Michael Youngblood, an analyst at Friedman, Billings, Ramsey, an investment bank.
figure 1. a protester carrying a slogan
World Financial Crisis in 2007 was originated from subprime mortgage loan crisis in U.S. and spread out all over the world. The damages of 'Subprime turmoil' by the so-called 'Wall street greed' led to a protest movement named 'Occupy Wall Street' started on September 17, 2011 in Zuccotti Park, Whose slogan is "We are the 99%" which addresses the growing income inequality and wealth distribution in the U.S. between the wealthiest 1% and the rest of the population. Korea is not an exception. Emerging from the 1997-98 Asian currency crisis, banks have tended to provide more loans to households. Then household loans drastically increased and this consequently produces 'House Poor' who is suffer from the housing problem(burdened by mortgage and loan debt). The house poor problem is pandemic in Korea. Thus, we are still suffering from the credit event but some economists say it has just begun and long way to go. So we would like to take a close look at the mortgage loan in U.S. and Korea to find the thought-provoking messages.
Edinformatics, What is a Mortgage - What are the types of Mortgages?, 2012
Economy Watch, 'Mortgage Market in US', 2010
Kimberly Amadeo(About.com), ‘Mortgage-backed Securities’, 2011
Broker outpost LLC, Fannie Mae and Freddie Mac, 2007
EconomyWatch, Mortgage Market in South Korea, 2010
Moody’s investors service, Korea Housing Finance Corporation, 2010
HSBC, ‘Korea Focus-House rich, cash poor’, 2012
James R. Barth, Tong Li, Wenling Lu, Triphon Phumiwasana, & Glenn Yago, The Rise and Fall of the U.S. Mortgage and Credit Markets, 2009
Andreas Lehnert, Overview of US mortgage markets, 2005
Man Cho& Inho Song, Housing Price and Mortgage Credit Cycles: Tales of Two Countries, 2011
한국금융연구원, 국내 금융회사의 모기지 활성화 방안, 2007
Sungjoo Hwang, Moonseo Park & Hyun-Soo Lee,
Korean Real Estate Market Mechanisms and Deregulation of Mortgage Loans: Qualitative Analysis, 2009
Chae-Sun Chung, Integrating Price Dynamics in the Prudential Norms : the Korean Example, 2010
Korea Housing Finance Corporation, Introduction to Korea Housing Finance Market, 2011
