On The Consummation Of Mortgage Backed Securities System In China

Mortgage backed securities is a financing behavior. That is to say, a bank transfer home mortgage to special purpose authority, then the special purpose authority classify, integrate and guarantee the home mortgage to make them to be the securities which can circulate in the capital market. But now the study of mortgage Backed securities system of our academic circles is quite backward, and research scope is also limited, not notice of the new situations of mortgage backed securities.The basic theoretical issue of mortgage backed securities is discussed through comparative analysis of mortgage backed securities and three kinds of hypothec theories. Those theories are mortgage accompanying with sexual theory, hypothec independence theory and the hypothec accompanying the ease of the theory.Owing to historical background and cultural traditions of different countries, in the implementation process of mortgage backed securities, the choice of the hypothec theories exist quite a differences, but the content is consistent, which is ensure the negotiability of mortgageAt present, Korean mortgage backed securities is developing with a steady phase, and the relevant system has been quite completed. By analyzing the "Korean mortgage backed securities law of corporation" discussed the Korean mortgage backed securities system and the specific design and the existing problems.The problem of our countries'mortgage backed securities of legislative situation is that our domestic hasn't issued supporting basic regulations, and only a few rules and measures have been issued. Therefore, our country should base on the current situation to carry out the legislation and practice work of mortgage backed securities as soon as possible.To build our system of mortgage backed securities, analyzed the necessary conditions and the risks, then discussed the comparison and evaluation system of mortgage backed securities of both countries, and also put forward some mortgage backed securities system improvement suggestions. Our country should formulate the basic law of mortgage backed securities and perfect relevant legislation. This is not only in conformity with the trend of the development of the contemporary reality, but also the needs of the development of the social economy. Therefore, our country should carry out the legislation and practice of mortgage backed securities as soon as possible.