The Practical Theroies And The Working Design Of China Home Mortgage Securitization

This dissertation introduces the Mortgage-backed securitization (MBS) in the practical theory and the technical operation. In the introduction of theory, the dissertation puts forward the basic theory and operating process about MBS. Meanwhile , the author compares different countrys' current states and their experience about MBS and analysis the practical significance and the feasibility of MBS in China . On the next, basing on the theory, the dissertation advances the model of MBS in China and operational technique on how to establish and consummate the MBS market. It consists of total four chapters.The first chapter is mainly about MBS general theory analysis. Basing on general principal of the Property-backed securities, the dissertation discusses the MBS' s basic theory, including the concept, the function and operating procedure and makes an analysis on risk of repaying in advance and risk of breaching.The second chapter concentrates on the international study of MBS .It introduces the developing state and experience of MBS in foreign countries. By studying and comparing, I sum up the revelation that other country's MBS can give us.The third chapter focuses on the practice of MBS in China. The dissertation analyzes the MBS's great promotion on lots of economic fields, especially on financing and housing industry. As a conclusion, I think that MBS is feasible in China.The fourth chapter is the most important part of the dissertation that focuses on the technical operation of MBS in China. I put forward how to break the barrier of MBS in China by changing the idea of commercial bank and legal circumstance; the techniques which we should adopt in the course of MBS such as the establishment of SPV, the management and foundation of loan pool and the design of MBS product.