I. Introduction

With the development of economy, improving living conditions has become the most urgent problem for urban residents in China. The important solution is the commercialization of housing. On the one hand, it needs strong housing consumption loan support,

On the other hand, it also creates conditions for banks to promote personal housing consumption loans and adjust the credit structure of real estate, giving banks the internal motivation to carry out financial innovation. Since China Construction Bank tried out bank mortgage loans in some cities in the mid-1990s, facing the abundant market resources of housing finance, banks in China have generally carried out personal housing consumption credit business, and even launched special business brands, such as "Happy House" of Agricultural Bank and "Happy House" of China Construction Bank. The business volume has shown an obvious upward trend year by year. According to the statistics of Industrial and Commercial Bank of China, the national individual housing loan of the bank has increased from 1 billion in.

By the end of 2000, the RMB had increased to 1 100 million yuan, almost doubling, and 10,000 households had used ICBC loans to live in new houses. Therefore, strengthening the cooperation between banks and enterprises in the field of housing is a powerful guarantee to promote the modernization of housing industry, and developing housing consumption credit is an important policy measure to promote the new economic growth point of housing construction in China. However, through the empirical investigation and analysis of China's housing consumer credit market, especially Wenzhou, we find that there are still some problems that need to be solved urgently in its operation.

Second, the main problems in the housing consumer credit market

1, psychological problems of residents' housing consumption

It is a fine tradition of China people to manage their families diligently, but people's awareness of investment is relatively weak. Most residents buy houses to improve housing conditions, and the proportion used for investment purposes is still very small [Japan]. Another tradition of China people is to live within their means. They are used to buying houses with their savings. A large number of consumers still have the traditional consumption concept of "debt-free", but they still can't adapt to the advanced consumption prevailing in the West.

2, residents' income expectations.

According to the experience of foreign ordinary family housing consumption credit development, whether urban ordinary families have the economic affordability of housing debt consumption mainly depends on their stable family income level. The higher the income level, the greater the economic affordability of housing consumption credit. The more obvious the role of housing consumption credit in expanding demand.

At present, China's economy is in a period of transition, and the adjustment and entry of industrial structure have caused the following worries for urban residents, especially the middle-and low-income classes: the unemployment insurance system for laid-off workers is not perfect, the reform of medical care system for the sick is not in place, and the old-age security system is not perfect. According to industry analysis, it is more appropriate to control the total purchase price of ordinary working-class people below twice the annual household income. If the loan is 80% and the term is years, it is best not to exceed the family income in the future, otherwise it will affect the normal living standard. The existence of these practical problems makes the economic affordability of urban families weak, which leads to the low income expectation of urban residents and the difficulty in the rapid development of housing consumption credit.

3. Risk control and guarantee of housing consumption credit.

Because the personal housing consumption loan has the characteristics of many customers, wide dispersion, large base and long term, many risk points are difficult to control. In the process of individual housing loan operation, the possible risks of banks include property risks.

Rights risk, credit risk, fraud risk, collateral price risk, loan condition risk and so on. Therefore, the experience of foreign consumer credit development shows that the following conditions must be met to prevent the risk of housing consumer credit: First, stability.

Transparent income sources are reliable personal credit qualification grade, housing property mortgage guarantee, necessary housing consumption credit guarantee system and effective policy guarantee system, and various housing consumption credits suitable for different levels of demand. The above five factors are the operation of housing consumption credit in China.

Defects. First, lending institutions cannot know the actual income level of housing consumers. According to the general rules of foreign consumer credit, in order to reduce the repayment ability of family housing consumer credit, the ratio of housing expenditure to income is generally controlled between 10% and 10%. Because the income of residents in China contains a lot of non-monetary income and gray income, the only "proof of income" used by banks to prove the borrower's repayment ability is mostly untrue after investigation and verification, which makes it impossible for lending institutions to accurately measure and verify the actual level of residents' income, to confirm the loan qualification of housing consumers and to effectively control the credit risk of housing consumption. In addition, due to the imperfect information communication between different banks. If the buyer wants to be in multiple places,

When buying a house, he will prove his income in multiple copies, which may be used by different banks to provide mortgage loans. In this way, the actual loan amount is much higher than the specified amount, and the monthly repayment amount is far greater than its monthly income. The bank's housing loan risk has doubled unconsciously.

Second, housing consumption credit lacks personal credit system. Because there is no personal credit evaluation, personal credit investigation and personal bankruptcy system matching with the personal credit system. Therefore, personal credit cannot be accurately grasped.

Personal housing consumption credit risk can not be controlled.

Third, there is a lack of necessary housing consumption credit guarantee system. Because the existing guarantee laws and regulations in China have no corresponding provisions on housing consumption credit, the development of the right to use the stock houses and public houses in the secondary market is seriously lagging behind.

After that, the property right and the right to use the house mortgaged by the loan are illiquid, so consumers can neither choose a reliable guarantee form nor provide effective risk protection for lending institutions when applying for housing consumption credit.

Fourth, there is no effective policy guarantee system. Because China has no perfect commercial housing insurance guarantee system, no guarantee system provided by government agencies, and no government agencies, including real estate securities.

Housing bonds. Therefore, it is impossible to provide strong guarantee and support for housing mortgage loans.

Fifth, there is a lack of housing consumption credit varieties needed by different levels of society.

On the one hand, China lacks the supply of long-term housing consumption credit varieties; on the other hand,

On the other hand, the existing mortgage loans have large down payment and long term.

Small, high interest rates, unable to attract more middle-income class, unable to meet.

Demand for more housing consumption credit.

, the concept of credit management

Due to the traditional system and the inherent inertia of China's current capital formation

The characteristics of scarcity make banks exist when they start housing consumption credit.

There are some contradictions in some ideological concepts and some specific operational issues.

Title. Its performance

First, it is difficult to implement the mortgage disposal of housing consumption loans. This is very

Many houses are pre-sold, according to the Measures for the Administration of Real Estate Mortgage.

Fixed, faster mortgage contract signed in the real estate sector.

Go through the pre-mortgage registration, and then go through the formal mortgage after obtaining the property right certificate.

Fee registration procedure. If the lender can't repay the bank loan before mortgage

The money, that is, the mortgage will be given to the bank. Due to various reasons, the current housing

Another problem is that it is difficult to apply for housing property certificate. For example, in Wenzhou, there are

Many households have lived for two or three years and can't get the house title certificate.

For example. Without the title certificate, the house cannot be formally mortgaged, and the bank also

You can't legally dispose of the mortgaged house. Sometimes banks can't reach borrowers.

When the house mortgage is disposed by repayment, it will even be affected by the market.

Considering the market and social stability, it is difficult to preserve the loan debt.

That's right. These factors restrict the personal housing credit business to a great extent.

The development of.

Second, a scientific and standardized bank management system has not yet been formed.

For example, housing personal mortgage loans face lower down payment and lower interest rates.

High, complicated procedures, harsh conditions, unreasonable fees and narrow coverage,

Strict guarantee procedures and other conditions that are difficult to stimulate personal housing credit.

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Third, the bank's own business volume and costs have increased. Residential mortgage loan

Money, to go through the borrower qualification examination, mortgage, evaluation and registration, bear.

The third aspect is the notarization of the guarantee payment contract.

Can be obtained, resulting in an increase in bank costs and workload. At the same time, loans

In the process of payment, you must go through house survey, appraisal registration, appraisal and payment.

Taxes, payments, etc. , but also increased the burden of loan consumers to varying degrees, from

However, it inevitably affects the enthusiasm of housing lenders.

Third, the housing consumer credit market solutions

In view of the problems existing in China's housing consumption credit, we think it is appropriate to adopt it.

Take the following countermeasures.

Implement a healthy, reasonable and stable psychological mechanism for housing consumption.

First, formulate a reasonable and transparent housing consumption policy to allow residents to

On the basis of understanding the housing policies and regulations, understand the rationality of the policies, and then

Consciously implement the new policy and form a stable psychological prediction for housing consumers.

The second stage is to further standardize the primary and secondary housing markets and real estate transaction laws and regulations.

Then, strengthen the mechanism to protect the legitimate rights and interests of housing consumers and reduce housing transactions.

Taxes and fees, create a fair and reasonable housing consumption environment, and form

A healthy and progressive psychological mechanism group of housing consumption.

Expand the fields and groups of housing consumption credit.

In the choice of housing consumer groups, in view of China's high income,

Most officials and the government own housing and housing consumption is the low-income class.

The objective reality shows that the current potential is not great, and the introduction of housing consumption credit policy should be paid attention to.

Guide medium-sized enterprises with strong housing consumption desire and certain economic strength.

The income class not only has better expected economic development potential and debt housing consumption.

Psychological expenses are also targeted at the urgent housing needs of young consumers.

Some supporting preferential incentive policies focus on starting these middle-income groups and

Housing consumption behavior of youth groups. In the field of consumption, it should be based on

Different economic affordability and housing consumption tendency of different consumer groups, using

Adopt diversified, multi-level and multi-field housing consumption credit to make consumers

Choose housing consumption purposefully according to one's economic ability and life will.

Credit varieties, combined with different housing consumption needs of different consumer groups.

Point, formulate some supporting incentive measures, such as interest rate subsidies, relief and so on.

Taxes, loan-free, mortgage notarization fees, etc. To start and promote this.

Housing consumption activities of some residents.

Establish and improve a developed and standardized housing credit system.

Historical experience shows that when a country enters "housing" and "tourism" consumption,

In the upgrading stage, the consumption pattern of residents has also changed, gradually from

The lagging consumption of self-saving becomes the early consumption supported by credit, that is, entering

The era of consumer credit. At present, China is shifting from housing consumption to welfare distribution.

The monetary distribution system from system to housing consumption and the monetization of consumption are

Journal of Wenzhou University in July

The basis of consumer credit. Therefore, establish and improve developed and standardized housing.

The credit system is imminent. First of all, the government should pay close attention to credit including housing consumption.

Related legislative work, especially in the process of establishing regional individuals.

On the basis of the credit system, establish a national personal credit system as soon as possible.

And formulate unified credit standards and credit methods for personal credit, and secondly, promote.

Further improve the commercial insurance system of housing consumption credit and formulate government insurance.

And establish the necessary supply of housing consumption credit funds.

Finally, the mechanism is cultivated in combination with the current situation of China's capital market development.

Cultivate some market players who can raise funds for a long time, attract and concentrate capital.

Private decentralized funds and mechanism life insurance held by investors in the market

Long-term funds such as gold and pension funds provide more housing consumption credit.

There are many sources of funds.

Establish a good housing credit risk distribution mechanism.

Objectively speaking, whether in developed countries or in newly started development.

In the housing finance market of developing countries, the credit risk of housing consumption always exists objectively.

Existing. Although China has promulgated the Commercial Banking Law,

Guarantee law, urban real estate management law, individual housing guarantee

Loan management pilot scheme "and other laws and regulations, but" housing mortgage

The law has not yet come out, which leads to the mortgage between the mortgagor and the mortgagee.

And the lack of authority in the interpretation of laws and regulations such as mortgage realization, guarantee and insurance.

According to' learning'. Therefore, on the one hand, government departments should strengthen the relevant legal system.

On the other hand, banks should also establish a scientific allocation of risk constraints.

Mechanism.

First, establish and improve the government security system and give full play to the government's right to exist.

The supporting role of housing consumption credit. China belongs to a developing country, and cities.

It will take some time for the economic system to be fully established. It's different since the reform.

The income distribution gap between different classes and different industries has expanded rapidly and is still expanding.

Expand the situation. Because housing involves the interests of thousands of families and is a sensitive business.

Products. If the non-profit national housing mortgage loan guarantee is established

The company aims at some low-and middle-income people who have practical difficulties in purchasing commercial housing.

The guarantee will help to relieve their worries. Therefore, a standardized country is formed.

A special housing security mechanism can not only overcome the present situation of enterprises coming forward.

Many defects of guarantee can effectively disperse bank risks and increase financing.

The security of the mechanism.

The second is to establish and improve the secondary market of housing finance and give full play to the social role.

Based on the insurance financial market, try to support the insurance fund pension fund.

Actively participate in the secondary market of housing finance with financial institutions such as * * * funds, and more

It well embodies and promotes the implementation of housing consumption credit.

The third is to establish and improve the housing secondary mortgage market and develop mortgage loans.

Securitization, give full play to the supporting role of securities in housing consumption credit.

Opening the secondary mortgage market for housing can not only further open up the whole society.

The asset potential of providing competitive and selective funds for the housing market.

Source, but also through the reorganization of property rights, dispersion and transfer of housing loans.

Risk, successfully in the residential financial market and capital market organically, push.

Socialization of housing loan risk distribution.

Strengthen financial innovation and seek the maximization of bank profits.

After China's entry into WTO, the threshold for foreign banks to enter China.

It is decreasing constantly, and it is widely involved in all business fields of China's financial market.

However, including personal housing credit business, the competition among banks will be intensified.

Make domestic financial institutions accelerate the pace of innovation. Specific to the personal housing credit industry

Financial innovation in the service field is reflected in

First of all, ideologically, banks should provide credit for personal housing consumption.

Have a clear understanding of the relationship between promoting housing construction and economic growth.

Knowledge, further enhance the sense of pioneering and enterprising, and change old habits and thinking.

Type, bold innovation, the courage to reform.

Second, in the specific service level, service mode and service attitude.

There is a real big improvement, which makes consumers convenient, fast and satisfied.

The third is to further expand the variety of housing consumer credit services and expand the service field.

Domain optimization service environment. According to the different requirements of consumers, open up housing reform.

Housing loans, housing use rights loans, housing swap loans, private houses and second-hand houses.

Sell the loan and form a comprehensive and clear housing consumption credit as soon as possible.

Mode. At the same time, develop housing around the field of housing consumer credit.

Information consultation, sales guidance, individual housing loan scheme design, housing insurance.

"through-train" services such as insurance notarization, mortgage repayment acceptance and property rights agency,

Give full play to subjective initiative and expand the scale of housing consumption credit.

The fourth is to innovate financial instruments. For example, using income growth and

Time is proportional to the relationship, and gradually improve the repayment of personal housing loans.

Meet the financial needs of some young people with fast concept renewal and strong consumption desire.

When the demand utilization meets international standards and the market interest rate is implemented, it can be changed.

New varieties of personal housing loan interest rates for customers with different levels of financial needs.

Make a choice.

Four. Concluding remarks

With the promotion of monetization of housing distribution and the development of housing commercialization in China

Exhibition, a problem is the actual income of most urban residents.

The contradiction between high and low housing prices. And start personal housing consumption credit business.

Exhibition can effectively solve the problem of insufficient funds for property buyers and the difficulty of buying a house.

The economic pressure will decompose into the next few years. Residents' Potential Consumption Intention

Hope is transformed into real purchasing power. Therefore, effectively solve the personal housing consumption.

The problems existing in credit activities have great influence on the development of China's real estate and housing system.

This reform is of great significance.