Housing Mortgage Loan Asset Securitization Rating Method And Application Research

The People's Bank of China and China Banking Regulatory Commission issued the notice on further to do a good job of housing financial services.The notice encourage the banking financial institutions to revitalize the stock of mortgage assets by issuing of housing mortgage-backed securities in order to have more credit funds to increase the first suite type and improve the housing credit.Financial institutions have already accumulated some practical experience,but because of RMBS assets as the basis of personal housing mortgage loan,so that it is difficult to evaluate the credit risks of the individual.At the same time,housing loan time last so long,which is strongly influenced by macroeconomic.Expected losses of underlying asset has great uncertainty,which cause problems for rating,asset packaging issue.However,many small and medium-sized city commercial banks face the imperfection of the credit data.The data loss is not rare in the process of data transformation,which enlarge the difficulty of RMBS rating.Through the study,comparison of the rating method,this research summarize the characteristic of the rating of domestic and overseas.Basing on the general rating method for reference,we analyzed the housing mortgage loan credit data of the N commercial bank and constructed a basic analytical framework by structuring the static pool dynamic pool and transfer matrix.·This article mainly has five parts except the paper introduction.The second part expounds the related concepts,the transaction agents,which has been involved by asset securitization,the adopted structure of deal,the business processes,the rating method and so on.The third part expound the development situation of domestic asset securitization,in which the current situation of the development of housing mortgage loan securitization is the main point.In the fourth part,the N commercial Bank is the example.According to the actual situation of N bank,I put forward the corresponding rating ideas and obtained a rating results which have a certain basis.The fifth part gave a comprehensive assessment to the rating scheme which had been established on the example of N commercial bank.It pointed out its application value to the investment banking and investment.The sixth part made a analysis and summary to the overall effect of this research method and the deficiencies.Basing on the study,some suggestions for the perfection of the future rating method were put forward.