By 1990, more than 50% of the $3 trillion outstanding mortgage loans have been securitized.
Since 1983, asset-backed bonds have also developed, and mortgage-backed bonds have appeared, which are designed for investors to have different maturity requirements for financial instruments.
By 1993, the total CMO of the United States has reached $500 billion.
Issuance of auto loan mortgage securities1985;
1988, the United States launched securitization with credit card loans as collateral;
Student loan mortgage securities came out from 65438 to 0993.
After the securitization of housing mortgage loan, securitization technology is widely used in non-mortgage creditor's rights assets other than mortgage creditor's rights. At present, asset securitization has spread all over the enterprise's accounts receivable, rent, copyright royalties, credit cards, accounts receivable, car loan accounts receivable, consumer goods installment payment and other fields. Asset securitization market has become the second largest market in the United States after federal government bonds, and it is also one of the most important financing tools in the American capital market.
The relaxation of financial control in Europe and America, the implementation of Basel Accord in various countries, and banks' attention to capital adequacy ratio and non-performing assets have also greatly stimulated the development of asset securitization in various countries around the world. 1995, the International Finance Corporation under the World Bank issued $400 million in irrecoverable securities with its long-term assets in South America and other developing countries as collateral. In recent years, asset securitization has also developed rapidly in Asia. 194, Hong Kong issued HK$ 350 million mortgage bonds. By 1996, asset securitization was further extended to Indonesia, Thailand, Malaysia, Japan and other Asian countries. According to Moody's forecast, the asset-backed securities issued by Southeast Asian countries in 1998 reached $2 billion. The development of financial innovation and asset securitization in Asia is an important embodiment of the deepening and development of its financial system and capital market.