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抵押贷款证券化发源于20世纪70年代的美国,是近几十年来发展最为迅速、影响最为深远的金融创新之一。它既是一种住房消费融资工具,同时也是资本市场的一种投资工具。我国试点工作所取得的丰硕成果表明,抵押贷款证券化加快了我国银行、证券、房地产等市场的融合,为我国房地产业的不断发展提供了稳定的资金来源,确保住房金融朝着健康的方向稳步前进。随着房地产业和金融业相互配合的日益普遍,我国应当积极地吸取他国成功经验,在正确定位的基础上从发挥政府的主导作用、大力发展和培育机构投资者、完善相关法律法规、加快复合型人才的培养等方面入手,大力推进住房抵押贷款证券化。
Mortgage securitization originated in the United States in the 1970s as one of the most rapidly developing and far-reaching financial innovations in recent decades. It is both a consumer financing tool for housing and an investment vehicle for capital markets. The fruitful results of our pilot work show that the securitization of mortgage loans has accelerated the integration of China’s banking, securities and real estate markets, provided a stable source of funds for the continuous development of China’s real estate industry and ensured a steady growth of housing finance in the direction of health go ahead. With the mutual cooperation of real estate industry and financial industry becoming more and more common, our country should actively learn from the successful experience of other countries, give full play to the leading role of government on the basis of correct orientation, vigorously develop and nurture institutional investors, improve relevant laws and regulations, Type of personnel training and other aspects, vigorously promote the housing mortgage loan securitization.