住房反向抵押的制度反思与规范构建
程威住房反向抵押的制度反思与规范构建
nstitutional Reflections on and Standard Construction of Housing Reverse Mortgage
期刊名称：《法学研究》
期刊年份：
作者：程威
单位：
中文关键词：以房养老;反向抵押;信息披露;成年监护;担保债权
英文关键词：house for pension; reverse mortgage; information disclosure; adult guardianship; secured claim
中文摘要：
住房反向抵押是以房养老模式下补充养老财务保障的重要制度，其实施中出现老年人参与范围局限、财务不稳定性突显以及非借款配偶方权益保护不足等问题。根本成因在于老年人认知弱化与住房反向抵押复杂性的紧张关系、住房反向抵押养老功能与金融机构营利追求的内在冲突、当事人利益保护规则失当等。住房反向抵押的实施应选择银保合作模式，并借助强制咨询制度控制老年借款人的事前风险，通过设置政府支持的保险基金来减轻老年借款人与贷款人的事后受损风险。关于借款人的保护，应借助成年监护制度协助借款人决策，落实贷款人适当性管理义务以优化信息披露，设置居住延期保护规则维护非借款配偶方权益，确定处分清算机制强化继承人利益协调。关于贷款人的保护，应借助约束性条款预先涤除在先担保权益，确保住房反向抵押债权的预期实现，并通过资产证券化控制流动性不足的风险。
英文摘要：
Housing reverse mortgage, which is an important system to supplement the financial security of the elderly under the house-for-pension model, has encountered some problems in its implementation, such as limited participation of the elderly, prominent financial instability and insufficient protection of the rights and interests of the non-borrowing spouse. The fundamental causes of these problems lie in the tension between the cognitive weakening of the elderly and the complexity of housing reverse mortgage, the internal conflict between the pension function of housing reverse mortgage and the profit pursuit of financial institutions, and the improper rules on the protection of parties’ interests. China should choose the mode of cooperation between banks and insurance companies for the implementation of housing reverse mortgage, control the ex-ante risk of elderly borrowers with the help of the compulsory consultation system, and reduce the ex-post risk of elderly borrowers and lenders by setting up a government-guaranteed insurance fund. With respect to the protection of the borrower, China should use the adult guardianship system to assist the borrower to make decisions, implement the lender’s duty of suitability to optimize information disclosure, set up the residence extension protection rules to safeguard the rights and interests of the non-borrowing spouse, and establish the liquidation by disposition mechanism to strengthen the coordination of the heirs’ interests. As for the protection of the lender, China should eliminate the prior security interest in advance with the help of binding clauses, so as to ensure the expected realization of residential reverse mortgage claim and control the risk of illiquidity through asset securitization.
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