住房抵押贷款提前还贷风险管理研究

The risk management of prepayment in home mortgage loans

从现代金融和风险管理角度看,住房抵押贷款提前还贷对商业银行是一种期权性风险,对其收取违约金并非国际惯例,也并不是有效的风险补偿方式。商业银行应适应市场竞争需要,接受风险转嫁并提供风险管理服务,运用风险定价技术在按揭交易价格中对提前还贷风险进行补偿。对于已承担的风险,商业银行应构建抵押贷款提前还贷的数据库,通过表内对冲和市场对冲,推出多样化的住房抵押贷款方式,积极推进住房抵押贷款证券化,从而最终增强银行的盈利来源和核心竞争力。

From the view of modern finance and risk management, prepayment of home mortgage loan is an optional risk to commercial banks. Charge default penalty is neither an international rule, nor an effective risk compensatory way. Commercial banks should adapt to market competition, accept shifting risks and provide risk management service, use risk-pricing techniques in home mortgage pricing to compensate for the prepayment risk. As for the involved risk, commercial banks should build a prepayment database of home mortgage loan, apply on-balance sheet netting and market hedge, promote diversified home mortgage measures, accelerate mortgage-backed securities actively, and strengthen the commercial banks＇ earning ability and core competency ultimately.