住房抵押贷款证券化起源于20世纪60年代末的美国,是二战后最重要的金融创新之一。美国政府为缓解金融机构资产流动性不足的问题,决定启动住房抵押贷款二级市场,为住房业的发展和复兴开辟一条资金来源的新途径,进而使美国居民的住房自有率大幅提高,生活居住条件显著改善。最近,央行研究局一份针对我国房地产金融存在的“四大问题”而提出的政策建议引起业内人士的广泛关注,一直以来千呼万唤终术露脸的住房抵押贷款证券化再次成为房地产金融的焦点。住房抵押贷款证券化的现状1.银行动机不足 Mortgage-backed securities originated in the United States in the late 1960s and became one of the most important financial innovations after World War II. In order to ease the problem of insufficient asset liquidity in financial institutions, the U.S. government decided to launch a secondary market for home mortgage loans and open up a new source of funding for the development and rejuvenation of the housing industry. This will lead to a substantial increase in the housing self-occupation rate of the U.S. residents, Living conditions improved significantly. Recently, a policy study put forward by the Central Research Bureau of the People’s Bank of China for the “four major problems” in China’s real estate finance has aroused widespread concern in the industry. The securitization of housing mortgage loans that have been utterly crying out for a long time has once again become the real estate finance focus. The status quo of the mortgage-backed securitization 1. Banks are not motivated