Financial risk is that the borrower's financial situation becomes worse and it is difficult to repay on time, which makes the bank face the possibility of default or default. In order to avoid financial risks, banks generally use mortgage and third-party guarantee. As far as the current situation in China is concerned, the third party is usually the borrower's work unit. However, due to many factors, such as the poor economic benefits of some units and the increasing turnover of employees, this guarantee method is difficult to implement in practice, and the bank has not reduced much financial risk because of the third-party guarantee. Specific measures to prevent risks can be considered as follows:
1. Continue to implement the "double guarantee" system of mortgage and third-party guarantee, and choose the third party strictly and carefully.
2. The borrower whose expected financial situation may improve shall be subject to a deferred repayment system, and interest shall be accrued during the deferred period. If the borrower is still unable to repay the loan, he can be advised to lower his living standard or change from selling a house to renting a house.
3. Securitize mortgage loans held by banks. Transfer and disperse the risk of the primary mortgage market to investors who invest in the secondary mortgage market. It is necessary to establish a housing mortgage insurance or guarantee financial institution, which will purchase and guarantee housing mortgage contracts from mortgage banks and then sell these mortgage securities to the public. This can not only stabilize the housing market, but also reduce the risk of housing mortgage loans.
Second, the avoidance of interest rate risk.
Interest rate risk refers to the risk that the borrower defaults or prepays due to the fluctuation of market interest rate during the loan contract period. Mortgage loans are long-term loans, and interest rate changes are inevitable (China has lowered interest rates several times in the past two years). The rise of interest rate will increase the financing cost of banks, and make those banks that hold a large number of fixed-rate or adjustable-rate mortgages suffer losses. With the decrease of interest rate, banks with a large number of fixed-rate mortgages may face the loss of interest income caused by borrowers choosing to re-borrow at the lower interest rate in the current market and repay the original mortgage in advance. At present, the traditional planned pricing method is used to determine the interest rate of a single mortgage loan in China, and the interest rate of a mortgage loan issued with credit funds should be lowered according to the statutory loan interest rate. The operating cost of mortgage loans granted to individuals is higher than that of loans granted to units, which further increases the interest rate risk. Therefore, the interest rate of housing mortgage loan must be determined by the bank according to the financing cost and operating conditions, that is, the market interest rate is implemented. Only in this way can banks have motivation. As for the use of market interest rate loans, buyers may have unbearable problems. In fact, the most fundamental factor that restricts residents from buying a house now is that the income of house prices is too high relative to the public, and the composition of house prices is extremely unreasonable. If house prices fall to a reasonable level, the affordability of market interest rates is not a problem at all. Because the increase of a few thousandths of the monthly interest rate is much worse than the substantial reduction of the house payment. In order to avoid interest rate risk, it is best to implement floating interest rate for housing mortgage loans. However, the calculation of floating interest rate is complicated and borrowers are unwilling to accept it. And the implementation of fixed interest rates, it is necessary to guard against the risk of early repayment. In the United States, there are usually prepayment clauses in housing mortgage loan contracts to stipulate in advance whether the borrower has the right to prepay, impose a certain proportion of the loan balance (or total amount) on prepayment, or stipulate that prepayment is not allowed within a specific period. If this period is exceeded, the borrower has the right to repay the loan in advance. This practice is worth learning from.
Three, housing (collateral) to avoid their own risks
The risks from the house itself mainly include: the risks brought by changes in the value of the house and the risks brought by natural disasters and accidents. For the latter, banks usually use the method of home insurance to resist. The evasion of the former should attract the attention of banks. General loan banks choose the lower of the evaluation price provided by the evaluation agency and the borrower's purchase price as the standard for determining the loan amount. Therefore, the evaluation of housing price is very important to ensure the safety of housing mortgage loan. However, China's real estate price evaluation started late, the technical level is low, the operation norms are not perfect and uniform, and the evaluation price of the same subject matter is quite different because of different appraisers, which further increases the risk of banks. Therefore, we must make great efforts to improve China's real estate appraisal system, especially to establish the appraiser's signature system, and the appraisal results should be finally confirmed by the loan bank.
Four. Avoid the risk of collateral disposal
Once the borrower fails to repay the principal and interest of the housing mortgage loan, the lending bank has the right to dispose of the mortgaged real estate to recover the principal and interest. However, the cost and time of collateral disposal may bring risks to banks. The disposal of collateral cannot be completed in a short time. The longer the time, the more energy it takes and the higher the cost. However, if you are eager to sell, the price will naturally be much lower. If it cannot be disposed of quickly, it will seriously affect the bank's capital turnover. When dealing with collateral, we will encounter an embarrassing problem: can the bank drive the borrower out of the mortgaged house? Considering social stability, this is obviously inappropriate, but otherwise the economic interests of banks will be damaged. After all, banks are not charitable organizations. Therefore, without a clear legal system, it is just empty talk that banks have the right to dispose of collateral. It is suggested that the residential mortgage insurance or guarantee financial institution mentioned above provide the borrower with the final repayment guarantee. Once the borrower fails to repay the loan on time, the financial institution will repay it on his behalf and transfer the original loan relationship. Before the borrower's economic conditions can be improved, it can be changed from selling to renting, or it can reduce the existing living standard on the premise of ensuring the basic living of residents. Without government intervention, the normal operation of banks can't be guaranteed at all. What's more, the housing system in no country in the world is 100% commercialized, and there are more or less welfare elements. Instead of direct financial subsidies, it is better to provide more protection for residents' financing funds in policy, which can not only reduce the operational risks of banks, but also enable more people to have loan conditions.