Recently, Ms. Lin, who holds tens of millions of funds, is quite tempted by real estate trust products with an average yield of 8. 15%, and she is more at ease when she sees collateral. Is the real estate trust of collateral reliable?
Have collateral but can't get the debt.
Recently, the bankruptcy reorganization case of Chongqing Elegance Real Estate Company was exposed, and four trust companies and 14 bank were involved, which caused concern. Among them, some assets of collateral corresponding to related loan products of China Credit Trust have been occupied by natural persons due to the replacement problem, which led to the seizure during debt collection, and was sentenced to release the seizure and could not be executed. China Credit Trust said that we can only go through legal procedures and continue to recover debts.
It is understood that this situation is not uncommon in industry disputes. Many real estate developers are willing to "seek help" from trust companies with financing costs as high as 20%~30%, but in the case of insufficient mortgage or guarantee, they may bury hidden dangers after high returns.
Some trust companies try to participate in real estate projects to control risks.
According to the data of Trust Industry Association, the real estate trust in 20 18 was an absolute star, and the scale of raised funds remained at the top of the list for four consecutive quarters. According to an insider of a trust industry in Guangzhou, the real estate business is still the focus of this year, but it is more cautious in the choice of counterparties. Most trust companies are required to cooperate with the top 100 real estate companies in sales, and some trust companies even raise the standard to the top 50, and try to choose first-and second-tier cities for real estate projects. Projects in third-and fourth-tier cities only cooperate with leading companies in the industry, and the project location is better in order to better control imports.
Previously, the creditor's rights model was the most traditional model for trust companies to carry out real estate business. The use of trust funds included but not limited to direct issuance of trust loans, investment in equity income rights, and purchase and resale of accounts receivable. Due to the continuous tightening of financial supervision, in order to compete with banks differently, some trust companies began to explore real equity investment, such as developing projects with counterparties through the combination of equity and creditor's rights, in addition to earning interest income from creditor's rights, they also obtained income distribution from holding equity until the end of the project.
In addition to the mode of equity plus creditor's rights, some trust companies also try to carry out real estate projects in the form of pure equity investment. This is a typical holding commercial real estate project. The trust plan contributes 65,438+0,000% to the project company and deeply participates in the project development, construction and operation management.
Expert's suggestion: make clear the relationship between the principal's rights and interests and debts, and prevent risks.
Ying Huikang, a postdoctoral researcher in the trust industry, told reporters that avoiding the risks of real estate trust mainly depends on the trust company's grasp of project screening and management.
First, look at the relationship between the subject's equity and debt, especially pay attention to whether there is invisible debt or complex private debt of shareholders. The second is to look at integrity, especially the integrity of collateral. This integrity includes the integrity in the geographical sense (to ensure the convenience of disposal) and the integrity in the right, and the mortgage should be complete. Third, we should pay more attention to survival management. In the process of management, we should continue to pay attention to whether there are any abnormal situations worthy of early warning and deal with the problems in time. When the risk is exposed, we will be passive, which puts forward more detailed requirements for the management of trust companies.
Yuan Jiwei, a senior trust researcher, said that some housing enterprises involved in private lending and high-interest lending should be highly concerned, indicating that their financing channels are limited and the capital chain is already tight. "Optimizing counterparties is on the one hand, and it is more important to predict the trend of the industry and adjust trading strategies according to the trend of the industry. It is not advisable to blindly believe in collateral. "