住房贷款证券化两种模式的比较与选择

Comparison and Selection of the Two Models of the House Loan with the Securities

作为不动产证券化重要形式的住房抵押贷款证券化,是中国金融创新的重中之重。对我国开展住房贷款证券化的两种模式进行了比较分析,并结合国外经验指出,表外融资是我国推行住房贷款证券化应选用的最佳模式。

As the main form of the real property represented by the securities, the house loan and mortgage with the securities is a very important financial i nnovation of China. This paper makes comparison and analysis of the two models o f developing the house loan with the securities in China, and connecting with th e foreign countries' experiences, points out that the off-balance sheet financi ng is the best model for our country to select in promoting the house loan with the securities.