加快我国房地产抵押贷款证券化进程的思考

Reflections on Speeding up China＇s Real Estate Mortgage Loan Securitization Process

房产抵押贷款证券化不仅能拓宽房地产业的融资渠道，同时也可以有效商业银行改善不动产抵押贷款的流动性状况．其实质是将证券市场的投资引入房产抵押贷款市场，是20世纪70年代后期最为重要的金融创新手段之一．在分析了美国房产抵押贷款证券的模式的基础上，提出我国在此方面应该注意的问题．

Real estate mortgage loan securitization can not only broaden the real estate financing channels, but also effectively improve the situation of liquidity of real estate mortgage loan. Its essence is to bring the stock market investment into real estate mortgage loan market, and it is one of the most important means of financial innovation in the late 70s of the 20th century. This article presents the problems that we should pay attention to notice in this as- pect, on the basis of the analysis of the America mortgage loan securitization mode.