Research On Supervision Of Off-shore Mortgage Backed Securitization

Oversea mortgage-backed securitization is one of the transnational operational manners. What called oversea mortgage-backed securitization is to launch mortgage backed securitization and finance using the carrier based in oversea. At present, because if the mortgage backed securitization is spread, the conditions for economic environment, law frame, society credit bases and supervises status is not possessed completely, the transnational development pattern is feasible. The each step form the mortgage-backed securitization procedure. The each step is independent relatively. The feature provides enormous convenience for the financier to find the best region combination in the whole world. For example, the special purpose vehicle may be established in the Wikipedia where the tax is very low, the bond may be issued in the American capital market where the supervise and revelation is free relatively and the investor's bases are very deep and you also can invite Hong Kong upper credit lever finance organization to assure and American famous company to appraise lever. The most important consideration for the transnational mortgage-backed securitization is to evade supervise and low the cost. Along with the practice experience accumulated, the internal institution perfect and the match market environment improve; the task emphasis for mortgage-backed securitization can be transfer to inland and spread across-the-board. At first, the dissertation summarizes the mortgage-backed securitization. After analyzing the oversea mortgage-backed securitization style in each country, it induces illumination. Finally, on the basis of the comparison between the oversea style and domestic law, the dissertation brings forward the legislative suggestion for mortgage-backed securitization.