The Research Of Chinese Mortgage Backed Security Question

Since the 1990s, residential commercialization process has been promoted by our housing system reform and demand in personal housing mortgage loan has increased. As a new financial tool, Mortgage backed security (MBS) has meaning in mobilizing resources, scattering risk, improving service. The MBS business in China not only can guard against financial risks, promote the sustained and healthy development of real estate market, but also can enrich our bond products and promote capital market development.This essay holds that it is necessary and practical to promote MBS business from the point of financial institutions, investors and financial system reform by analyzing development situation recently. Our market has large-scale and provide enough basic asset portfolios, which create conditions for smooth MBS business. The essay analyzes costs and benefits of commercial banks in MBS.MBS business is at initial stage in our country and faces many obstacles. First, the development of the market is not perfect; the institutional investors do not standardized; small-scale and single species. Second, corresponding laws and regulations do not sound and credit rating agencies lack, which fettered MBS development. At last, accounting, technology and the problem of shortage of qualified personnel should not be overlooked. Based on above, the essay suggests that standard and expanding the scale of MBS; format whole credit system; introduce supporting laws and regulations in order to make MBS in legal framework.Learning from foreign mode of MBS operation, the essay brings about our mode design principles to be followed and advantages of"inside mode". The essay makes detailed comparison of several MBS products and mainly studies on case of China Construction Bank. As a investment tool pursuit of benefit, MBS still faces risks. The last part of essay describes several ordinary risks and introduces several possible preventive methods in detail.In short, the essay holds that although there have many obstacles, MBS development in china is an inevitable trend. As long as we take effective measures to improve the market environment, we believe that our MBS market will develop healthy and rapidly.