Securitization Of Housing Mortgage Loan

The thesis introduces the basic theories, significance and development history of the house mortgage securitization, demonstrates the necessities and feasibility, points out the obstacles in securitizing, and puts forward the proposals and policies for how to develop the securitization favorably in China. The thesis consists of four parts:Chapter 1 is an introduction, which gives the definition and content of the mortgage securitization and mortgage market, analyses the background and environment of the history of the mortgage-backed securities systematically.In the second chapter, after describing the present status in house market and house financial market of China, the paper analyses the characteristics of the status quo, and studies the necessity and feasibility of developing securitization in China. Meanwhile, the paper also discusses the effects and importance of the securitization to the national economy, emphasizes its benefits to the growing of GDP, and expatiates on the conditions that should be required when securitization is developed. The chapter III discusses the problems and obstacles restricting the mortgage securitization in China. The chapter has three points. First of all, the paper analyses the restricted factors from the aspects of primary economic developing phase, lower level of financialization, deficient law system, lack of technology and specialists, etc.; secondly, it discusses the disadvantages inside and outside of the mortgage market; and thirdly, the paper points out the difficulties in handling the relationship between financial supervision and innovation which must be faced with in the development of securitization.The chapter IV states the ways to promote house mortgage securitization in China, and sets forth the valuable policies and proposals for the government. That is to further develop the mortgage securitization in China by establishing the specific targets and the focal points, improving the market environment for the mortgage securitization, reinforcing the financial supervision and controlling the financial risks together with developing financial technology and training financial personnel.