Determinants of the ARM Share of FHA and Conventional Lending

Loan-choice research has generally examined the determinants of fixed-rate mortgage (FRM) versus ARM lending in the single-family conventional market. Little attention has been paid to the significant differences in ARM lending between the GSE conforming and jumbo markets, as well as differences in the FHA market. For example, the ARM share of jumbo originations is generally two to three times that of the conforming market. This article extends past analysis by examining the determinants of ARM market share in the conventional conforming, jumbo, and FHA markets. Mortgage-pricing variables and the slope of the Treasury yield curve, a proxy for expectations of the time path of ARM indexes, were generally found to be significant. Further, the geographic shift in FHA lending toward the California market since 1992 was found to explain a significant part of the increase in the ARM share of FHA originations during the mid-1990s.     

林权抵押贷款问题研究综述

对林权抵押贷款问题从内涵及法律地位、贷款原理和运行机制、贷款抵押功能、贷款成效、制约影响因素、政策建议等方面进行了整理和归纳,提出了今后的研究中需重点关注的内容。     

我国住房抵押贷款保险问题及对策

住房抵押贷款保险，对于化解银行信贷风险、刺激个人住房消费发挥着重要作用。在我国，由于这个险种开办时间较短，在险种的开发、保险金额及费率的厘定等方面存在诸多问题。本文提出应该从确定合理的保险金额和费率、建立风险防范机制等方面完善住房抵押贷款制度。     

美国次贷危机对中国房地产金融的借鉴与启示

当前,美国次级债风波席卷全球.目前我国宏观经济背景与危机前的美国经济有一定相似性,流动性过剩导致以股票和房屋为代表的资产价格虚增.基于此,在剖析美国次贷危机的基础上,分析中国房地产金融面临的主要问题,站在审视者的角度,提出了相关政策建议.     

商业性个人住房贷款运作的几个问题及对策

商业性住房按揭贷款是商业银行个人信贷业务的主要品种之一,各家商业银行都十分重视此项业务的拓展。但在具体操作时,由于种种原因,商业银行也遇到了一些特殊问题,如按揭购买的房屋因购买者遇突发事项而要求退房,银行如何制定合理的收回贷款程序;银行如何处理好与保险公司的关系;如何帮助购房者选择合适的还款方式等等。这些问题需要银行提前做好准备,否则将影响到该项业务的正常运作。     

Factors influencing take-up rates on the Loan Guarantee Scheme

This paper uses time-series analysis to model explicitly the take-up rate of the UK Government's Loan Guarantee Scheme over the 1980s. In doing so we consider the rationale for the scheme in the context of empirical and theoretical research into the financing of small businesses and in particular the nature of the small firm/bank relationship. To begin we discuss the history and evolution of the scheme from its inception in 1981. A theoretical model is then outlined in which LGS funds are used to maximise the utility of capital constrained entrepreneurs.Using this framework we find that the UK Government can do much to influence the levels of both take-ups and failures of firms on the scheme by directly altering the parameters. The scheme's apparent success as a [relatively] cost-effective job generation package suggests more could be done to extend the scheme to aid more start-up firms and those existing firms wishing to expand.     

提高借贷资本效率综论

我国借贷资本效率不断下降,金融机构贷款和货币供应量大幅度增加.但仍不足以扭转通货紧缩趋势,其原因是多方面的,其中最重要的原因是单一的融资形式和融资渠道,造成社会资本循环周转阻滞.不能仅靠增加贷款量和货币供应量来解决通货紧缩问题,而应该综合治理,特别是要发展、完善金融市场,发展多种融资形式,盘活货币资本存量,用好增量,提高借贷资本效率,使货币和信贷在促进经济增长中发挥更好的作用.     

小额信贷的利率分析

小额信贷作为一种有效的扶贫手段，近年来在我国部分地区已经进行了试点，并取得了一定的成绩。但小额信贷能否持续发展并真正起到扶贫作用，关键是能否制定补偿成本的利率，并减少对利率的限制。本文通过给出小额信贷高利率的经济学解释，分析了高利率政策在我国的可行性。     

我国商业银行个人住房抵押贷款风险分析——美国次贷危机对我国的启示

当中国的个人贷款发展如火如荼的时候,美国的次级债市场却危机四伏,并蔓延开来。观察美国次级贷款危机,对比一下中国的住房抵押贷款市场,有很多值得吸取的教训和值得借鉴的经验,加强对个人住房抵押贷款风险的防范十分必要。当前的主要任务是积累和完善数据资源,建立和提高个人住房抵押贷款风险管理的定量化分析技术水平,以便定量评估具有中国持征的个人住房抵押贷款的风险度。此外,还要强化对个人住房抵押贷款风险管理的政策支持,并将住房从完全市场化回归民生本质。     

关于我国民营企业融资问题的思考

随着我国经济体制的建立,各类企业纷纷登场,异彩纷呈。民营企业也随着经济改革的大潮蓬勃发 展,民营经济在国民经济中所占的比重越来越大。但是由于银行的传统偏见和民营企业自身的特点,融资 难的问题始终是制约民营企业向大而强方向发展的关键。