An Analysis of Housing Mortgage Loans─Repayment and Default Factor

[[abstract]]隨著金融的自由化與國際化，提升金融競爭力是必要的，台灣於2002年元月一日起加入世界貿易組織，也為經濟合作發展組織的觀察員，在面臨世界主要國家的金融機構之競爭下，如何因應金融市場之衝擊及提升金融競爭力是目前金融界及政府應極力處理的課題，然金融資產證券化是主要方法之一。 金融資產證券化是未來必然的趨勢，世界各國亦如火如荼地推展，政府應視我國的國政民情再參仿美國及世界各國的方式，研擬適合我國的模式，對於資產證券化的評價、風險評估，尤其信用風險方面，不論是金融機構或投資者皆需特別審慎評估。 金融資產證券化之其中一項為住宅押抵貸款，是以同條件同性質之房屋抵押貸款為標的物作為群組，經由訂價評估、信用增強及信用保證後，包裝組合成權益證券的形式向金融市場發行。而房屋抵押貸款群組品質良窳攸關權益證券之訂價、信用保證、發行效果及投資者之投資風險，基於此因，本研究自某大銀行收集房屋抵押貸款之資料，運用敘述統計、卡方檢定及分層分析之統計方式，以分析各變數與提前清償率或違約率之相關性，得以提供銀行進行資產證券化時之參考。[[abstract]]The liberalization and internationalization of the financial markets is necessary to promote the financial sector. On January 1, 2002, Taiwan joined the World Trade Organization and the Organization for Economic Co-operation and Development’s as an observer. The fact that local banking institutions’ have to compate with foreign banks, it is urgent that the government and banks must find ways in which to launch assaults on the financial markets to promote banking institutions’ contention. The Financial Asset-Backed Securitization is a trend for the future and has been executed actively in first world nations. The government has to study a model and mould it to fit the needs of our nation and use reference material from the USA and other nations. Banking institutions and investors must especially be well-advised on estimates for Financial Asset-Backed Securitization’s evaluations and hazards, especially credit hazards. One example of Financial Asset-Backed Securitization is housingmortgage loans. The group is on the same terms and quality as housing mortgage loans by the way of price estimate, credit reinforcement and credit guarantee. It is composed of stocks and bonds to sell wholesale to investors. The quality of housing mortgage loans is to concern the price, credit guarantee, issuance’s effect and investment hazard by stocks and bonds. In this study data collected of housing mortgage loans from a bank, was used. This study used statement statistics, chi-square statistics and delaminated statistics to analyze the mutuality of every variable of the repayment rate and default rates. The statistics can be used in Financial Asset-Backed Securitization by banks