Study On Credit Asset Of Real Estate

In recent years, the rapid development of the real estate industry has contributed to the urban construction and the improvement of the standard of living. However, the healthy development of China's real estate was obstructed by the limitation of traditional financing ways, especially the single financing instruments of real estate. Since 1998,the real estate develop rapidly in China, it attributed to bank, no matter what construction loan, fluid loan of construction company, loan of the real estate hive and individual consumption. By estimate, 80 percent of them derive from bank, it make commerce bank increase risk of market and credit.On June ,5, 2003, the central bank put out "notify for strengthen credit loan management of real estate "-121 document. For the sake of control the risk of credit loan. It make the risk of bad loan remove to the Enterprises of real estate and make it clear that the only financing instrument of real estate, the real estate securities as a new financing instrument, It is necessary that strengthen financing methods for promote capital investment market.In this paper, first, analyze our condition in China and the primary conception and the development of ABS overseas are introduced. Then the attention to the operating models, operating procedures and legislation environment is focused. Subsequently, the test analyze of other country and region, most analysis of pattern of American. It is financing out of list. Finally, By studying foreign advanced theories and practice, advanced our own scheme for China. The practical condition for application of real estate securities in China is analyzed and relevant countermeasures are put forward.At last, test conclude the result of the study, Mortgage Backed Securities not only broaden financing instruments of real estate, but also provide another new investment instruments for vast investors. More parties and individuals can participate in it. It will promote development of real estate in china.In 2004,the bank of construction has handed in the sixth scheme, the central bank has handed it in the State Department, promote development of real estate. Believe that with the development of laws, code and policy of real estate, Mortgage Backed Securities will boom in China.