The Laws Of The Real Estate Securitization

Real estate securitization, as a new kind of financial innovation, emerged from the United States of America in the 1970s. Afterwards, many other countries around the world begin to introduce this innovation into their domestic financial markets. In 2007, subprime mortgage crisis erupted in U.S, which has wide-ranging effects on the housing market, the economy and the financial sector. The crisis also reflected real estate securitization has its inherent risk. Based on the causes of subprime mortgage crisis, the author makes a detailed study of real estate securitization form the legal aspect.The whole dissertation can be divided into three parts. The author gives a legal definition on the real estate securitization in Chapter One and explains its basic theories. In Chapter Two, based on the present situation of practice of real estate securitization, the author demonstrates the necessity and feasibility of real estate securitization in China. At last, after analyzing the causes of subprime mortgage crisis in US, the author focuses on the Chinese law issues and makes some assumption for healthy development of real estate securitization in China.