The current framework of mortgage securitization process gives rise to the legal risks associated with fraud mortgage origination , disposal of collaterals , and inconsistent legislations of mortgage insurance 摘要住房抵钾货款证券化是一项结构复杂的金融创新，涉及诸多法律问题。
Mortgage securitization is currently an important topic with economic theory and real estate studies in china , and there is much study on theory and practice of securitization 住房抵押贷款证券化是近年来我国理论界研究中的一个重大课题，对此我国理论界已进行了大量的理论研究和实证研究。
This paper , using the experience of other countries for reference , considering the present situation in china , put forward the conception of developing housing mortgage securitization in china 本文借鉴境外住宅抵押贷款证券化的发展经验，结合我国目前的背景条件，提出了我国住宅抵押贷款证券化的发展构想。
As a new financing mechanism , housing mortgage securitization reduced financial risk and financing cost of housing financial intermediaries , improved the structure of assets and liabilities , and raised their economic benefits 作为一种新的融资机制，它降低了住宅信贷中介机构的金融风险和融资成本，改善了资产负债结构，提高了其经济效益。
It put forward the principals of establishing our country ’ s mortgage securitization system . conception of some concrete system on base of analizing the necessity and the feasibility of establishing the mortgage securitization system 在此基础上分析了我国建立抵押权证券化制度的必要性和可行性并提出了建立我国抵押权证券化制度的原则和一些具体制度的构想。
Mr . leland sun was previously a senior managing director of bear stearns asia ltd and an executive director of goldman sachs asia ltd . his experience encompasses mortgage securitization and the fixed income market 孙立勋先生获委任前，为美国贝尔斯第恩斯公司bear stearns asia ltd的高级董事总经理亦曾在高盛亚洲有限公司goldman sachs asia ltd担任执行董事一职。
In view of this , this article carries on elaboration on the conception legal characteristics , classification and the value analysis of mortgage securitiation , obtains the inevitable trend of mortgage securitization in the mortgage ’ s development from the basic concept 文章首先论述了抵押权证券化的概念、抵押权证券化的法律特征和抵押权证券化的价值,阐释了抵押权证券化的基本理论。
In the next chapter , the author analyzes the current market condition of housing mortgage loan in china and reaches the conclusion that china ought to develop mortgage securitization . it shall be advantageous to chinese real estate industry 另外，随着我国经济的迅速发展，房地产业将成为我国的一个支柱产业，而住房抵押贷款证券化对房地产业的推动作用不可低估。因此，我国应加快培育住房抵押贷款证券化市场。
Through processing financial product , housing mortgage securitization diversified the risk of housing mortgage , raised the quality of mortgage pool , and many market participants as securities guarantors and investors got much benefit 住宅抵押贷款证券化通过对金融产品的深加工，分散了住宅抵押贷款的风险，提高了住宅抵押贷款组合的质量，使证券的担保人和证券投资者等众多的市场参与者从中获得可观的收益。
