本文结合我国的实际情况,提出应采用表外融资的住房抵押贷款证券化模式防范房地产风险。针对我国推行住房抵押贷款证券化所面临的障碍,作者提出了一系列切实可行的措施:(1)建立健全住房抵押贷款证券化运作的法律法规体系;(2)进一步发展和完善住房抵押贷款一级市场;(3)构建住房抵押贷款保险担保制度,健全金融服务体系;(4)全面建立个人信用制度,防范个人信用风险。 Based on the actual situation in our country, this paper proposes that the mortgage-backed securities securitization should be adopted to prevent real estate risks. In view of the obstacles facing China’s implementation of the mortgage-backed securitization, the author put forward a series of practical measures: (1) establish and improve the legal and regulatory system for the operation of the mortgage-backed securitization; and (2) further develop and improve the mortgage- Level market; (3) to build a mortgage insurance system for home mortgages and improve the financial service system; and (4) to establish an overall personal credit system to guard against personal credit risk.