If you're in the market for an FHA government insured loan, there are only hours left before a hike in the annual mortgage insurance premium charged by the agency goes into effect April 18. For loan officers and lenders who have potential FHA deals in the pipeline, if FHA case numbers are not obtained before Monday, then those borrowers will see a small, but significant, increase in what they will pay as a part of their monthly mortgage payment.
A discussion of the paper "An Actuarial Premium Pricing Model for Nonnormal Insurance and Financial Risks in Incomplete Markets," by Zinoviy Landsman and Michael Sherris, is presented. There are many actuarial and ether reasons to adopt various premium calculation principles. As a result, numerous risk measures have been developed in the literature. The paper by Landsman and Sherris provides a powerful model for actuarial pricing in incomplete markets whose distribution tails might have various degrees of heaviness, ranging from the multivariate Gaussian to multivariate Student-t tails. Furman and Zitikis (2007) suggest using the concept of weighted distributions in an actuarial context. The concept helps to unify and derive desired properties of a number of premium calculation principl...
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