Will loan sale become popular? : a study on the current status and future development of home mortgage securitization in Hong Kong

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Will loan sale become popular? : a study on the current status and future development of home mortgage securitization in Hong Kong

 

Author: Po, Siu-ling
Title: Will loan sale become popular? : a study on the current status and future development of home mortgage securitization in Hong Kong
Degree: M.B.A.
Year: 1997
Subject: Mortgage loans -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Management
Pages: x, 121, [16] leaves ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1257019
URI: http://theses.lib.polyu.edu.hk/handle/200/1567
Abstract: Mortgage-backed securities are very popular investment instruments in the United States and are frequently used by the banks there to control and adjust their financial position. In Hong Kong, home mortgage securitization started only in 1990s. The mortgage-backed securities issued were all from private issuers without government backup and the aggregate volume was small. The external market conditions in Hong Kong are favourable for home mortgage securitization. However, from the survey, loan originating banks are hesitating to sell their home mortgage accounts because their financial position are satisfactory and need no urgent loan sales. Furthermore, they foresee certain difficulty in booking new loans to refill the sold portfolio. Existing mortgage-backed security buyers are limited. With the credit backup of the government-controlled Mortgage Corporation, more banks are likely to buy mortgage-backed securities issued by the corporation. The mortgage-backed security market in Hong Kong will grow slowly at the present stage. However, more banks are coming in for the home mortgage primary and secondary market. Existing home mortgage providers should prepare for this change.

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