I-Mortgage-Backed Securities (MBS): Iyini futhi isebenza kanjani

Sekungamakhulu eminyaka, amabhizinisi elokhu ekhulisa imali engenayo yabatshalizimali ngokudala izindlela namathuba okwenza imali. Abatshalizimali bahloselwe ukukhulisa amamajini enzuzo kanye nezinzuzo ngokusabalala kwezingozi emathubeni ahlukahlukene okutshalwa kwezimali avumela umtshali-zimali ukuthi asebenzise uhlobo olukhula njalo lwemibono yebhizinisi. 

Njengoba kunabantu abangaphezu kwezigidigidi ezingu-7 emhlabeni wonke, kunendawo nesikhathi sokuthola okungcono kakhulu ongakunikeza embonini enamathuba ahlukahlukene. Lesi sihloko sinikeza konke okumele ukwazi mayelana nezibambiso ezisekelwe kwi-mortgage nokuthi zithuthukisa kanjani izimali kubatshalizimali emhlabeni jikelele.

Yiziphi izibambiso ezisekelwa yi-mortgage?

Izibambiso ezixhaswe yi-mortgage yimikhiqizo yezezimali eyenziwe ngeqoqo lemali ebolekiwe ekhishwa ibhange kubantu isikhathi eside, ipakishwe bese idayiselwe abatshalizimali. I-mortgage ngokwayo isebenza njengesibambiso kubhizinisi nabatshalizimali abahlose ukuzuza ngokukhokhwa kwezikweletu zababolekisi. 

Ibhange lisebenza njenge-trustee noma njengomxhumanisi phakathi kwe-mortgage kanye nomtshali-zimali ngenkathi liqondisa futhi liqinisekisa ukukhokhwa kwemali mboleko ye-mortgage ngumuntu obolekiwe. Izimali ezibolekiwe zama-mortgages ahlukahlukene zihlanganiswa ukuze zenze izibambiso ezisekelwe yi-mortgage ezisekelwe. 

Zisebenza kanjani izibambiso ezisekelwa yi-mortgage

Izibambiso zebhange lezindlu ezibolekwayo zisebenza ngendlela efanayo kozakwabo abasekelwa yimpahla kanti umehluko okhona uyimpahla eyisisekelo lapho ukheshi kukhiqizwa khona umtshali-zimali. Ngokungafani nezibambiso ezisekelwa yimpahla, impahla eyisisekelo esetshenziswa njengesikweletu esiyisibambiso yindawo eboshelwe kuyo imali mboleko. 

Izibambiso ezisekelwa yi-mortgage zigxile kakhulu ekudonseleni imali ebolekiwe ngezikhathi ezihlukene futhi inikeze umtshali-zimali ukuthi azithenge ngokuhlanganyela. Umtshali-zimali uhlala efaka imali emalini ebolekiwe, ngaleyo ndlela, ethatha isikhundla sebhange njengesibambiso ngesikhathi etshala imali ezimakethe zasekhaya. 

Isibonelo, ibhange le-TFY linikeze ama-mortgage ama-mortgage kumakhasimende angaphezu kwe-1000 ngezikhathi ezihlukahlukene kusukela ngoJanuwari 2000 kuya ku-December 2002. Ibhange le-TFY liqoqa zonke izimali zabo mboleko ezikhona, ezifinyelela ku-1000 zibe izibambiso ezixhaswe yi-mortgage-backed (MBS) futhi linikeze i-MBS ngokuthengiswa, ngokuvamile isaphulelo, kumtshali-zimali. 

Kusukela kulesi sibonelo esingenhla, umtshali-zimali uthatha ngokuzenzakalelayo isikhundla se-mortgagor ebhange. Ibhange, noma kunjalo, lihlala likumsebenzi njengomxhumanisi womtshalizimali kanye nababolekisi bezindlu abaqinisekisa ukuhambisana nesivumelwano sokuqala phakathi kwezinhlangothi. Ibhange liphinde lirekhode imali ebolekwayo njengenzuzo ezuziwe kungakhathaliseki ukwehluleka noma ngenye indlela umsebenzi we-mortgage. 

Abahlanganyeli ekwenziweni kwezibambiso ezisekelwa yisibambiso 

Kunezinhlanu ezinkulu ezithintekayo ekwenziweni kwezibambiso ezixhaswe yi-mortgage, lezi yibhange, uMtshali-zimali, I-Mortgagee, i-ejensi yokulinganisa izikweletu, kanye namabhange okutshalwa kwezimali noma izindlu.

1. Ibhange: Ibhange lingumama kanye nomqalisi we-MBS transaction ehlanganisa zonke izinhlangothi ezihlukene. Ibhange liqoqa imali ebolekiwe libe ngamaqembu, lihlukanise zonke izimali ezibolekiwe bese lidayisela abatshalizimali lezi MBS. 

Ngaphandle kwamabhange, kunezinye izikhungo zezezimali ezihlinzeka ngemalimboleko ehlobene ne-mortgage kubanikazi bezindlu ezingaphinde zikhiphe izibambiso ezisekelwa yi-mortgage kubatshalizimali. Lezi zikhungo zezezimali nazo zifanelekile ngaphansi kwalesi sigaba.

2. Amabhange otshalomali: Futhi izikhungo zokutshalwa kwezimali okungezona ezamabhange, yizikhungo ezidlala indima ebalulekile ohlelweni lwe-MBS. Amabhange ngemuva kokuqoqa imali ebolekiwe abe yi-MBS eyodwa anikezela nge-MBS endlini yokutshala imali ukuze idayisele abatshalizimali. 

Amabhange angadayisela abatshalizimali ngokuqondile noma ngezindlu zokutshalwa kwezimali. Empeleni, kuvame ukuba nzima kumabhange ukuthola abatshalizimali abazimisele ukuthatha umthwalo onjalo kanye nezingozi, izindlu zokutshala izimali zihlonyiselwe ukuthola kangcono abatshalizimali bamabhange kukhomishana. Lezi zindlu zokutshala izimali zingaba abathengisi abahweba nge-MBS emakethe yemali.

3. Ababolekayo: laba abanikazi bezindlu ababefuna ukubolekwa emabhange. I-mortgage ibalulekile kumsebenzi we-MBS ngoba ukuthobela kwabo imigomo yenkontileka yesibambiso kungaba nomthelela omkhulu empumelelweni noma ekuhlulekeni kwe-MBS. 

4. Abatshalizimali: Abatshalizimali ngabantu noma izikhungo ezinenani eliphezulu, ezikhethe ukuthola i-MBS ngokutshalwa kwezimali okwenziwe ebhange. Zonke izinzuzo ezenziwe ku-mortgage ngayinye zilethwa khona kanye kubo.

5. Ama-ejensi okulinganisa isikweletu: ama-ejensi okulinganisa izikweletu anesibopho sokulinganisa impumelelo noma okunye komsebenzi. Badlala indima yokukhuthala kanye nokwenzeka kokuthi umuntu ngamunye obolekiwe akhokhe isikweletu sakhe. E-Nigeria, kunezikhungo ezintathu kuphela ezikala izikweletu, lezi yi-DataPro Limited, i-Agusto ne-Co, kanye ne-Global Credit Rating. 

Ubuhle kanye Nebubi bezibambiso ezisekelwa yi-mortgage

Izinzuzo zezibambiso ezisekelwe kwi-mortgage

1. Yehlisa ishidi lebhalansi yebhange: ishidi lebhalansi yebhange lehle kakhulu kulandela ukuthengiselana kwe-MBS ekugcineni kwabela izikweletu zebhange kumtshalizimali. Imali ebolekiwe engaphezu kuka-100 ngeke isavela ku-balance sheet yasebhange, okwenza kube lula futhi kube lula.
2. Inikeza umtshali-zimali ithuba: Izibambiso ezisekelwa yi-mortgage zinikeza umtshali-zimali utshalomali oseluvele lukhona okungenzeka lunikeze imbuyiselo enkulu kumtshali-zimali ngokuhamba kwesikhathi. Abatshalizimali ababambe amabhange e-MBS ngesiqiniseko sokukhuthala okufanele yibhange ngaphambi kokunikeza umnikazi wendlu kanye ne-ejensi yokulinganisa izikweletu ezingochwepheshe ekuhlonzeni amathuba okuba nempumelelo ekuhwebeni.

Ububi bezibambiso ezisekelwa yi-mortgage

1. Ubunkimbinkimbi: izibambiso ezisekelwa yi-mortgage yimisebenzi eyinkimbinkimbi kakhulu okunzima ukuyithobela ngokujwayelekile. Izinqubo, imibhalo, inkuthalo efanele kanye nezinye izici zinikeza uchungechunge lochwepheshe abasebenza ubusuku nemini ukuze baqinisekise ukuthi amakhulu noma izinkulungwane zabantu ababolekiwe bahlanganiswa babe yizibambiso ezixhaswe yimpahla yendlu eyodwa.
2. Kuyingozi enkulu: Amathuba okuthi umsebenzi wehluleke uphakeme kakhulu, lokhu kungenxa yokuthi ukuqoqwa kwezimali ezibolekiwe ezihlukene zibe isibambiso esisodwa esisekelwa yimpahla yendlu kungenza amawindi ezingozi ezihlukahlukene. Enye ingcuphe enjalo ukuthi kungenzeka oyedwa noma ngaphezulu kwababolekiwe bangayikhokhi imali ebolekiwe; uma lokhu sekwenzekile, ukulahlekelwa kuthwalwa ngumtshalizimali okhokhe imali ebolekiwe.

Isiphetho

Izibambiso ezisekelwa yi-mortgage ziyimikhiqizo yezezimali eyinkimbinkimbi kakhulu enikezwa abatshalizimali ngezaphulelo ezisekelwa yizindlu ezibolekiwe.

Ukuthengiselana kuye kwaqhubeka nokukhula ekudumeni phakathi kwabatshalizimali kanye nezwe lamabhizinisi jikelele.