等额本息还款法和等额本金还款法比较分析

文章基于货币时间价值理论对住房贷款中两种最常用的还款方法———等额本息还款法和等额本金还款法进行了系统的比较和分析,并结合实际案例从节省利息、可得贷款总额、贷款利率上升时还款以及提前还贷四个角度论述了这两种还款方法的利弊。最后,给出了两种还款方法所适用的购房群体,对贷款购房者具有很强的指导意义。     

久期和资产负债管理中的利率免疫策略

文章对目前广泛应用的利率风险度量方法包括久期、修正久期和凸度进行了深入分析。运用久期—凸度方法,研究了资产负债管理的利率免疫策略。针对利率变动的结构因素(即各种金融资产的利率同时上升或下降相同的数额)的局限,通过建立数学模型,对此方法进行了一定的改进,从而为人们在资产负债管理中实行利率免疫策略提供一种参考。     

两种利率下的两种还款法

本文在介绍个人住房抵钾贷款的两种最常见还款方式，即每月等额本息还款法和每月等额本金还款法的基础上，分别推导出固定利率和浮动利率下两种还款法的每月还本付息额及本息拆分的计算公式，并对在固定利率和浮动利率下两种还款法进行比较，有利于借款人更科学选择还贷方法：     

固定利率房贷为何叫好不叫座

在住房按揭贷款固定利率推出之后,我发现一些商业银行的相关利率水平,几乎与目前的住房按揭贷款浮动利率相差无几,而且时间长短不一,品种不少。当时就想,商业银行把住房按揭的固定利率推得这样低,如果利率上升,它们有规避利率风险的能力吗?     

基于权益久期的商业银行利率风险度量技术研究

在我国的利率市场化进程中,商业银行将面临巨大的利率风险,商业银行的利率风险管理势在必行。文章全面分析了利率风险的形成和对商业银行的影响,指出久期是利率风险度量方法的必然趋势,在此基础上,引入权益久期的概念,全面衡量商业银行面临的利率风险,并对权益久期的应用环境     

我国将推出多样化住房贷款品种

为适应不同人群贷款需求，我国正酝酿推出多样化住房贷款品种。国家建设部副部长刘建峰日前在南京出席全国房改及房地产工作座谈会上说，要实现这项计划，目前要从降低贷款风险和减轻借款人负担两方面统筹考虑，简化贷款手续，才能推动住房金融多样化。他提出，可进行抵押贷款证券化试点；推动住房还款方式多样化。目前，工商银行已着手研究个人住房贷款的还款方式和还款利率为创新，计划在适当时候逐步推出等本等息还款方式、递增还款方式、全过程固定利率或分段固定利率贷款品种，形成适应不同年龄、不同收入群本贷款人需要的贷款品种系列…     

商业银行个人住房按揭贷款违约风险研究

近年来,国内商业银行普遍把个人住房按揭贷款作为优质业务来发展.历次房地产调控过程中,各家银行往往限制开发商贷款,但对个人住房按揭贷款仍然看好.面对房地产过热,房价增长过快的形势,政府高度重视,在新一轮的房地产调控下,商业银行住房按揭贷款违约风险日益明显.文章论述了商业银行住房按揭贷款违约风险的客观存在,并针对我国商业银行的特点,结合发达国家的经验提出了商业银行防范住房按揭贷款违约风险的建议措施.     

高院规定下的房贷“地震”

近来,广州的不少商业银行都刊登大篇幅的"债权转让暨催收公告",其中有部分是针对个人购房贷款的催缴。对于按揭购房者来说,如果连续3个月,或者一年内累计有6个月没有按时还款,银行就会将其视作断供,并开始打电话给业主催款,     

次贷危机对中国房地产市场发展的启示研究

一、次贷危机是什么美国次贷危机,全称应该是美国房地产市场上的次级按揭贷款的危机。而顾名思义,次级按揭贷款,是相对于给资信条件较好的按揭贷款而言的。因为相对来说,按揭贷款人没有(或缺乏足够的)收入/还款能力证明,或者其他负债较重,所以他们的资信条件较"次",这类房地产的按揭贷款,就被称为次级按揭贷款。     

不同房屋按揭方式的比较

财务学中的货币时间价值原理为我们提供了比较不同时点资金大小的正确方法：如折现法——须将不同时点的资金换算到同一时点才能进行比较，而且折算时计息间隔的长短是影响最终计算结果的重要因素。文章以时间价值原理为工具对目前房屋按揭贷款的三种较普遍还贷方式：等额本息方式、等额本金方式及“双周供”方式进行了对比解读。从而揭示出三种还贷方式还本竹息总额的真实差异。     

我国商业银行住房抵押贷款风险成因与对策研究

个人住房抵押贷款一直被国内外研究和实践公认为商业银行的优质资产,近年来,这一业务在我国获得了快速稳定增长,住房抵押贷款余额占各项贷款的余额的比重也越来越高。但是,由于我国金融体制不健全,个人住房抵押贷款存在商业银行房贷风险控制意识薄弱、房价虚高、银行间恶性竞争等问题,对此,政府部门应加强调控和监管,商业银行应建立住房抵押贷款担保、保险机制,推行抵押贷款证券化。以保证我国商业银行经营稳健。     

商业性个人住房抵押贷款的银行债权保护

1992年,中国建设银行首次发放了个人住房抵押贷款。从此,商业银行为自己找到了一个优良的贷款方向。但是个人住房抵押贷款期限一般都比较长,这就致使风险的暴露需要一个缓慢的过程。因此,个人住房抵押贷款的风险问题已经成为金融机构关注的焦点,同时也成为理论界研究和讨论的热点问题之一。基于以上背景,在对个人住房抵押贷款市场中的各种风险进行透彻分析和对我国的具体国情进行详细考究的基础上,本文有针对性地提出了一些银行债权保护的具体方法。     

Why are mortgage rates so uniform?

Conclusion Any reasonable model of mortgage lending concludes that interest rates depend on loan and borrower characteristics. In this paper, the rate is a function of the loan-to-value ratio, the parameters of the densities of future price of housing and income, deposit rate, and cost of foreclosure. Nevertheless, in practice, each lender charges only one rate to all borrowers. This is first explained by the difficulty of estimation of the parameters of the density functions. Since lenders cannot categorize their borrowers, they treat them uniformly and set minimum standards to minimize the risk of default by each borrower. Mortgage insurance, moreover, enables lenders to lend risklessly outside of the range in which they can operate risklessly on their own. Second, mortgage rate uniformity is explained by the lenders' risk aversion. Third, when borrowers are separated into discrete categories, uniform rates can result from perfect categorization of borrowers with respect to the future value of the relevant random variables. It is more likely, however, that lenders cannot categorize borrowers perfectly and that interest rates vary substantially among categories. As rates jump from one category to the next and borrowers are reluctant to gain small increases in loan size at significantly higher rates, lenders respond by offering only the basic category of loans.     

Broadening access to land markets: Financing emerging farmers in South Africa

This article reports on a pilot survey of commercial farms acquired by disadvantaged people in the province of Kwazulu‐Natal, and describes a recent financial strategy to improve access to land. The survey tested a sampling technique to gather information about the rate of land redistribution, the source of terms and conditions of loans used to finance land, and the nature of property rights, managerial arrangements and land use patterns on farms acquired by disadvantaged people. It was estimated that only 0,09 per cent of the farmland available for redistribution was transferred to disadvantaged people during 1995. This low rate of transfer was attributed largely to legislation regulating the subdivision of farmland, and liquidity problems created by traditional mortgage loans. Recent experiments involving mortgage loans with graduated repayment schedules have helped to address the cashflow problem. However, these financial innovations, funded largely by the private sector, are not widely available and their impact is constrained by the Subdivision of Agricultural Land Act. It is recommended that the government amend or scrap this Act, and include financial strategies used by the private sector in its own range of land redistribution programmes.     

Financial profiles of mortgage loan securitization

The issue and circulation of increasing numbers of securities is evidence of intensified securitization, which is among the most important trends in global finances today. Promising areas for securitization in today’s Russia are mortgage loans, followed by lease payments and consumer credits. Russia lacks mortgage note circulation despite legislative consolidation of two of their possible forms. A major economic reason behind the underdevelopment of the Russian mortgage security market is that large commercial banks do not operate in the domestic mortgage lending system. As a consequence, a critical mass of debt obligations for securitization has not accumulated in Russia yet. This and other circumstances determine the shift of the Russian mortgage market toward the American model of refinancing of mortgage loans, which depends on infrastructural hypothecary institutions, whose role can be assigned to Bank Control Pools (BCPs).     

明清商人为城市游民提供金融服务的经验及启示

明清商人为城市游民提供金融服务是通过印局发放贷款来完成的,其经营特点是：无须抵押但必须有担保;小额放贷;放短借款期限,加快催款速度;借助各种有影响的社会力量催还欠款,等等。它对当前银行开展个人金融业务的启迪是：贷款一定要有抵押或担保;加大催款力度;建立、健全全社会性的信用网络。     

On the macroeconomic determinants of the housing market in Greece: a VECM approach

This study examines the role of the housing market in the Greek economy. We review the literature and assess the interdependence between the housing price index and its macroeconomic determinants within a VECM framework. An equilibrium relationship exists and in the long run the retail sector and mortgage loans emerge as the most important variables for housing. The dynamic analysis shows that the mortgage loans followed by retail trade are the variables with the most explanatory power for the variation of the houses price index.     

市场利率变动对个人住房消费贷款风险的影响

本文主要分析市场利率变动对个人住房消费贷款风险的影响。首先,文章系统地阐述了国内外在研究个人住房贷款风险方面的代表性理论;然后选择市场利率变动这一因素,阐述了其影响个人住房风险的机制,并利用固定利率贷款的市场价值模型,通过实证分析固定利率在市场利率下降和上升两种情况下存在的风险;文章最后得出相关结论及政策建议。     

Monetary Policies versus Regulatory Policies: Management of Peer to Peer Market Interest Rates

This paper studies how monetary and regulatory policies manage peer to peer (P2P) interest rates. Based on selected representative monetary and regulatory policies, this paper finds that easy monetary policies reduce the demand for online loans, thus reducing the market's interest rates. Monetary policies may increase the supply of online loans through rational expectation channels or reduce the demand for online loans through bank risk‐taking channels. Normative market‐based regulatory policy enables the P2P market to return to rationality, eliminates high‐risk investors and borrowers, and subsequently reduces market interest rates. Risk disposal‐based regulatory policy reduces market supply to some extent, resulting in a small increase in interest rates. Both easy monetary policies and regulatory policies have a great impact on the normal platforms. The interest rate of high‐risk platforms is less affected by the relevant policies, which is evidence that such platforms do not behave in accordance with the financial rules in general. Monetary policies mainly affect platforms with interest rates in a relatively normal range, while regulatory policies mainly focus on platforms with abnormal interest rates.     

The Subprime Mortgage Calamity and the African American Woman

Many media and scholarly reports have focused on the subprime mortgage crisis and the resultant global financial meltdown. Most of the literature notes unequivocally that discrimination in the mortgage market has been, and remains, race-based and that it has damaged the African-American population disproportionately. This paper discusses the consequences of the subprime mortgage calamity and its negative impact on the Black community, women in general, and African-American women in particular. After controlling for individual, credit and housing characteristics, research shows that disparities in lending have persisted. Studies indicate that 63% of those given subprime mortgages qualified for prime mortgages. African-American females received the most high-cost loans and were over twice as likely to be given a subprime mortgage compared to White females. Moreover, African-American women were five times more likely to have received a subprime loan than similarly situated White males. Upper-income Black women were more often targeted for high-cost loans than lower-income women of color. As a result, the subprime mortgage crisis has precipitated an enormous loss of home equity and wealth among African-Americans that will affect generations to come.