Study On The Protection Of The Investor's Interests In MBS From The Law Aspect

Mortgage-backed securitization originated from the United States in the Late 1960s. Compared to other financing methods, MBS has its particular advantages and it can bring kinds of profits to the participants. But MBS is kind of financing method in which assets credit substitutes the enterprise credit. The investors pay close attention to the quality of the basic asset but not the initiators'economic power and credit status. Therefore the exposures of the initiators'credit status are brought to the least extent and the investor's interests are faced with the risk of being damaged.The study scope of this thesis is limited to the legislative protection of the MBS investor's interests. Firstly, this thesis studies the concept, characters and the legal relationship of MBS, pointing out the inevitability of MBS and the practical significance of Mortgage-backed Securitization Legislate in our country. Then through the analysis on the categorization of the damage to the investor's interests in MBS, it explores how to enhance the legislative protection of the MBS investor's interests in the legal system on asset "true sale", asset transfer and establishment of bankruptcy remoteness system. At last, the thesis discusses reinforcement of legal supervision over MBS, mainly about the information disclosure.In each individual issue, the said thesis takes comparison research methods. Through the comparative study on the legislative regulation overseas, it clarifies the legislative mode, value orientation, concrete institution and the reference for China. It puts forward some ideas, against the existing problem in our current laws, on the improvement and perfection about Mortgage-backed Securitization Legislate in our country and expressed my understanding of the operational theory and practices on this issue.