The Study Of Mortgaged-backed Securitization Pattern In China

Mortgage-backed security (MBS), as one of the major forms of financial innovations,was originated from American, which was used to solve the asset problem of lackingliquidation and achieved great success. In 1980s, this financial innovation was spreadto other countries and areas. In recent years, in the pace of quick development of realestate of our country, it has been the new hotspot.This article begins with the study of Mortgage-backed security 's developmentsoverseas and four typical patterns, and analyzes the operating ways and operatingcharacters of four typical patterns, and summarize the enlightenments to our country.Based on this, this article promotes a feasible pattern of MBS in our country, and alsodoes deep study of financial products design and arrangement of pattern. This articleconsists of five parts.First part generally analyzes the development statue of financial market of real estateand pointed the meaning of opening it.Second part introduces the principal of MBS. It includes the participants andoperating steps and three basic principals.Third part analyzes the MBS practices of America, Canada, and Hong Kong in detail,and got some good advices of developing MBS in China.Fourth part expounds advantages and disadvantages of developing MBS in China.Fifth part is based on above analysis, combing the practical situation of our country, tobuild a feasible MBS pattern of our country.