房地产信贷资产证券化的法律思考

【作者】 郭丽娇；

【导师】 曹明睿；

【作者基本信息】 郑州大学 ， 经济法学， 2007， 硕士

【摘要】 房地产信贷资产证券化是目前金融领域发展迅速的金融工具，房地产信贷资产证券化是对住房抵押贷款债券进行拆分、整合并销售的过程。本文主要通过对房地产信贷资产证券化含义及特征的分析，对房地产信贷年证券化给予一个明确的概念；通过对分散立法型国家与统一立法型国家在房地产信贷资产证券化方面的法律规定的介绍，探讨我国房地产信贷资产证券化的立法体例；通过对我国房地产信贷资产证券化的发展现状的介绍，明确目前我国推行房地产信贷资产证券化的可行性和必要性；通过对房地产信贷资产证券化的非法律风险和法律风险的介绍，分析我国目前房地产信贷资产证券化法律适用以及存在的法律风险。我国商业银行发放的住房抵押贷款已初具规模，具备了开展房地产信贷资产证券化所需的基本条件。但由于住房抵押代跨属于商业银行的优质资产，所以，我国商业银行开展房地产信贷资产证券化的动力不足。笔者在对对房地产信贷资产证券化市场规模和法律环境作了深入研究后，认为目前在我国最有可能成功开展的资产证券化类型非房地产信贷资产证券化的最大障碍—证券中介机构SPV的构造还未能得到有效解决。因此，笔者认为解决房地产信贷资产证券化的最有效的方式同样是以特别立法涉及房地产信贷资产证券化的相关问题作出制度性安排。本文共分四个部分。第一部分为房地产信贷资产证券化的一般理论，第二部分为海外房地产证券化的立法体例介绍及我国立法体例的建立，第三部分为我国推行房地产信贷资产证券化的现状分析，第四部分为我国房地产信贷资产证券化的法律适用及制度建立。更多还原

【Abstract】 The real estate letter loan property stock certificate’s turning is a financial realm to develop quick financial tool currently, real estate letter loan property the stock certificate turn is to the housing collateral loan bond carry on to dismantle a cent, integration combine sale of process. This text mainly passes to believe a loan property a stock certificate to turn the analysis of meaning and characteristic to the real estate, turning an explicit concept of giving to the loan year stock certificate of the real estate letter; Pass to asunder the lawmaking type is national and unify a lawmaking type, the nation believes a loan property a stock certificate to turn the introduction that the law of aspect rules in the real estate, inquirying into our country real estate letter loan property the stock certificate turn of lawmaking style;Pass the introduction of the development present condition which turns to the our country real estate letter loan property stock certificate, definitely currently our country promote the real estate letter loan property a stock certificate to turn of the possibility and the necessity;Pass the introduction of the non- law risk and law risk which believes a loan property a stock certificate to turn to the real estate, analyze an our country currently the real estate letter loan property stock certificate to turn law risk of law apply and existence.Housing mortage loan,which is one of the most mature kinds of Securitization in America,develops well in China and is qualified to be securitized.However housing mortgage is of credible asset in commericial banks so commerical banks has no enough motive to securitize housing mortgage loan. But the author thinks housing mortgage is the best choice to be sucuritized after analyzing the market and legal conditions of Securitization of housing mortgage loan for the reason that the rate of breaching of faith is low and the investors have more confidence and what is more,the relative governments support Securitization of housing mortgage loan.But the problem of how to organize the special purpose vehicle has not been efficiently resolved as that of Securitization of Nonperforming assets.That is the greatest obstacle to the development of Securitization of housing mortgage loan nowadays.So the author suggests todesign of Securitization of housing mortage by special legislation.This text is totally divided into four parts.The first part believes a loan property a stock certificate to turn for the real estate of meaning and characteristic, the second part turns for the oversea real estate stock certificate of the establishment of[with] the introduction and our country lawmaking style of the lawmaking style, the third part for our country promote the real estate letter loan property a stock certificate to turn of possibility and necessity, four-part is for our country the real estate believe a loan property a stock certificate to turn of the law apply and the system build up.更多还原