Law Acts As The Threshold Under The Securitization Of Mortgages

This thesis,from the standpoint of civil legal acts,by way of systematic and profound researches on MBS,analyses the role of the governmental promoting and the entering,and proposes the specific measures for it.MBS constructs a bridge between the creditor and debtor with its deliberate performance structure and unique function,satisfying both sides' demands, therefore it becomes very popular all over the world and forms a trend of the development of property and credit under the scope of the civil legal acts.At present,experts of economy and law have held profound discussions on such system.So,under the recognition of it,the thesis reviews the legal text of MBS through the perspective of civil legal acts and makes a comprehensive expression about the legitimacy of MBS,in order to clearly reappear the lawful noumenon of MBS under the condition of permissive acts.In the discussion about the implementation of MBS in China,the thesis points creatively to the other meaning of the governmental promoting and entering,which is constructing the financial market on the base of civil legal acts,,and presents solving methods.About the aim of such thesis,it will provide a standpoint to us in order to understand MBS deeply and our path for the implementation of MBS.Civil legal acts is the essential idea of the modern law.The method of general analysing has been given up.Only if using such standpoint to explain,we can show clearly the lawful spirit of MBS to others and construct the modern market with the foundation of civil legal acts.This is also the primary thinking method of us.About the study method of such thesis,with the key idea of modern law as the guide,the thesis emphasizes on the lawful core of MBS.From the knowledge of the economic law,jurisprudence,economics,politics,sociology, the thesis has made systematic study for MBS's primary issues with historic, comparative and positive study method,for which our country is constructing the good order for MBS.Five parts constitute such thesis: The First part is about the MBS'S origin and development.The knowledge and mastering of the history may provide us guideline of good understanding about MBS.The thesis explains the MBS' s origin and development in details with its odginal executor,the USA as an example and brings forward the core idea of this paper that we need endeavour to implement MBS of civil legal acts with the governmental support,and enlarge the free financing space for solving the corresponding issues in the financing process of the real property.Part Two is mainly about the analysis of dvil legal acts of MBS.Including MBS's meaning,value,the legitimacy,the difference between the concept of MBS and other relevant conceptions and lawful characters of MBS' s personality and relationship.This is the key of such thesis.Frankly speaking,MBS is the production of finance liberalization.We need analyse the lawful noumenon of MBS under the standpoint civil legal acts.Thirdly,the value of practising MBS and the argument of the feasibility of the MBS's implementation.Concerning its theory meaning,it will prompt the study of our civil legal acts and widen lawful scholars' research scope of civil legal acts.Concerning its realistic meaning,under the "Tour favourableness" principles,the thesis holds this point of view that it will be beneficial to the establishment of our resident financial system,reducing the governmental press of the accommodation subsidy;it will be beneficial to the good circulation of bank's assets,also it will be the propositions to widen the capital resource in the real estate industry, constructing the good real estate mechanism;and it will also be helpful for the healthy development of our capital markets,enlarging investments.Concerning about the feasibility of MBS in our country,under the principle of "four possessions and one progress",the thesis points out that our country now has a good economic environment for implementing MBS;we has well functioned systems for the real estate market and security market have already been formed;the legal system has been improved to a high level;we now has the theory foundation for practising MBS;at last,MBS in China has achieved great development.The fourth part does the researches on the MBS's developing approach in USA and UK.To the need of finance market's further development,MBS's financial function satisfies such need.So MBS has been attractive for nearly half a century.In this aspect,it is necessary for us to study the implementing methods of MBS in other countries and find a suitable way of ourselves.The last part is the studies of our country's path for MBS.In the idea of development of modern market economy,governmental entering(also called intervention including positive intervention and negative intervention) is only a part of the tasks of the govemment.The other important task is to promote to construct the order of the market,namely the free financial market order with the foundation of civil legal acts.The role of the American government in MBS is the best evidence for such argument.In this way,our government should also do something in the process of implementing MBS,namely as it is entering,as it regards the work of promoting to construct the MBS's market order as the most important task.Certainly,the governmental promoting and the governmental entering cannot be carried out at random.It must be in the scope of the economical law.In another words,the economical law shall point the position for governmental performance in order to make the governmental acts reasonable and reduce obstacles in the process of the implementing of MBS.About the conclusion of such thesis,it points out that we need endeavour to implement MBS of civil legal acts with the governmental support,and enlarge the free financing space for solving the corresponding issues in the financing process of the real property.