个人住房抵押贷款担保的功能与负面效应分析

个人住房抵押贷款担保的主要功能是降低购房借款人的首付款比例,但它可能会增加交易成本和社会成本,并诱发借贷双方的道德风险,从而降低个人住房抵押贷款市场的效率,乃至造成社会整体福利的减损和引发新的社会分配不公。

An Analysis of the Function of Personal Living House Mortgage Loan and its Negative Effects

Mortgage insurance means that the institution or organization established by law signed a security contract with the lender for qualified borrowers applying for low down payment mortgages,promising that when the borrower does not repay the loan principal and interest on schedule,it will assume responsibility for settlement agreement.Its main function is to provide credit support for qualified borrowers applying for low down payment mortgages,that is lower the threshold for borrowers to buy houses.But it may also increase transaction costs and social costs,induce moral hazard of both lenders and borrowers,reduce efficiency of mortgage market,impair overall social welfare and trigger a new injustice of social distribution.