Research On Risk Of Housing Mortgage Loan And The Countermeasure

In recent years, the rapid development in the real estate market, China's individual housing mortgage loan business scale expansion . Besides, up to 2008 the mortgage balance has attained as much as RMB 33000 billion. As a crucial Part of Banking transactions, residential mortgage assists in diversifying bank transactions , increasing bank profit and lowering bank risks . However, residential mortgage is vulnerable to the fluctuation of house Price and finance market, which will induce risks to the whole banking .Therefore, in carrying on residential mortgage , how to guard against or reduce risks, especially the market risk, is of crucial significance to banks.Therefore according to the domestic research, the housing market risk for persona] housing loan risks are analyzed, and the risk can be divided into the system risk and unsystematic risk two kinds, the system can guarantee insurance risk through the way, but the system risk aversion, through this kind of means can avoid can only rely on financial innovation tool to achieve the purpose of risk aversion. Asset securitization fits this demand. Through the implementation of mortgage securitization may transfer system risk. Securitization has for decades in the west of the development history, has been quite mature, but in our country has just started.In 2006 in the United States since the "sub-loan crisis" ferocious, causing a huge global impact, has become a global financial crisis. In this paper, securitization of risk that may exist on a "sub-loan crisis" that occurred a few factors. On the basis of the conclusions:(1) In China's current economic conditions in the financial environment, to the development of the real estate industry, it is necessary to promote the prosperity of the mortgage market,(2) mortgage market risk is we have to face. In addition to the establishment of a sound loan insurance system, the development of securitization of housing loans is the only way.(3) the U.S. "sub-loan crisis" is to a large extent the formation of the secondary market because the United States is not at all under the supervision of the Government, and in the securitization market, housing loans have been a number of securities, resulting in the original capital has been enlarged several times and even hundreds of times, so that these capital gains may all depend on the borrower's credit. Once the borrowers default, it will cause a "domino" effect, so that with the collapse of the superstructure, causing an enormous impact.(4) securitization is highly developed economy, promote the product of the economic development of securitization is path, China must develop securitization market, but to the experiences and lessons, to strengthen the supervision and administration of the government under the regulation in the orderly development, improve the legal system, strengthening the government support, make the healthy development of the economy.This paper is organized as follows:Chapter 1 Introduction. The article introduces the background of the subjects, topics of significance, the question of research, structural arrangements and innovation.Chapter 2 China's housing mortgage loans and the risk analysis. This chapter first introduced the mortgage's basic theory, recalling the start of housing loans, to rectify and standardize the development of governance, rapid growth and stable development of four stages; also introduced housing loans and the legal relations of ownership, a lien theory. And then focus on the mortgage of the meaning of the characteristics of risk, the risk can be classified as a transfer of risk and the risk of non-transferable, and the reasons for the formation of two types of risks specific analysisChapter 3 of our mortgage countermeasures to be taken. In accordance with Chapter 2 raised the risk of the type of fat is necessary to vigorously develop China's real estate market will be focused on building financial markets, the countermeasures should be taken, including: personal housing mortgage loans to improve the insurance system, the risk of early-warning mechanism to build in order to solve the transferable risk; risk for non-transferable, insurance security system can not be transferred, and only rely on the financial implementation of innovative tools to circumvent the application and transfer their risks of mortgage-backed securities are being applied to solve this problem, it should be vigorously promote the implementation of this new financial instruments.Chapter 4 China's launch of mortgage-backed securities. First of all, to introduce the process of asset securitization, master of the definition of securities. Then, in our country to carry out the feasibility of securitization and the need to elaborate, however, has come to our country to carry out the timing of securitization and have carried out a comprehensive stock of the conditions of carrying out securities can be solved the problem of non-transfer of risk, so that the real estate market and financial market developments more quickly. However, over the past two years, the securities in the United States led to "sub-loan crisis" of the global economy has caused great impact, and even has developed into a global financial crisis. This chapter analyzes why the United States will have this crisis, the Securities and there are those who risk their own. From the financial crisis, China should learn from what lessons, and finally come to the conclusion: In the process of securitization strictly adhere to government regulation, can not blindly be done quickly, the end of the corresponding policy recommendations.Conclusion. The full text of the discussion through the analysis, it can be concluded: The development of the banking industry trends, personal housing mortgage loans as a bank loan has been paid to one of the main areas. Mortgage has become China's booming housing supply and sustained economic growth and financial power. Over time the increase in credit lines, personal housing mortgage loans to commercial banks will inevitably pose a risk , by ordinary methods of risk transfer can only be saved from the face of the problem rather than solve the problem fundamentally, from the experience of developed countries shows that at present a fairly complete risk transfer is to design a risk transfer mechanism, as the bank operations of the systemic risks posed by the new mechanism will inevitably rely on to transfer, that is to say the risk could be transferred through the insurance risk One way to address, and financial innovation --- asset securitization can be used to nontransferable personal risk to the bank issuing mortgage crisis brought about by reduced or minimized. Therefore, in order to avoid risks, risks that may arise from the impact of losses and reduced to a minimum, it is necessary to step up and risk insurance system to improve early warning mechanisms, to vigorously promote financial innovation tool - asset securitization, but at the same time, the U.S. "sub-loan crisis "and let our vigilance and strengthen government regulation and control of institutions at all levels are in the securities under the supervision of the Government, do not laissez-faire free market development, which is the housing loan market can be a smoothly and orderly development of the key.