Real estate securitization is an inevitable trend of economic and financial securitization in today's world. Real estate securitization is a typical representative of contemporary economic and financial securitization. Since the 1970s, major changes have taken place in the financial industry of Western countries. On the one hand, the banking industry, which dominates the financial industry, is facing challenges; on the other hand, securitization has developed rapidly in the competition and has become the three main pillars of international financial innovation. One of the trends. In the wave of financial securitization, the securitization of real estate mortgage claims has become one of the main contents of structural changes in the financial banking industry and the innovation of new international financial instruments. This is mainly reflected in: first, the number of securitized assets of various financial institutions has grown rapidly, and the proportion of traditional banking assets has continued to decline. Second, the transferability of bank loans has been greatly improved. That is, banks are allowed to resell the amount of loans they participate in to other banks or financial institutions in the form of notes without seeking the borrower's consent in advance, thereby overcoming the shortcomings of syndicated loans that are basically non-transferable, so that banks become long-term securities. The main borrower in the market. Third, the volume of notes backed by mortgages has grown rapidly. In the innovation of international financial instruments, mortgage-backed bill transactions, together with financial futures and swap transactions, have become the main symbols of financial instrument innovation. The status of these three new financial instruments in the entire financial market is extremely important. Sexuality has been rapidly improved and developed. The direct reasons why real estate securitization has become an important part and main manifestation of economic and financial securitization are: First, housing mortgage loans are easy to be securitized. Not all assets are suitable for securitization. Whether an asset is suitable for securitization mainly depends on the relationship between the costs and benefits of securitization. The key factors that determine the cost of securitization of an asset are the credit characteristics, repayment conditions and term of the asset. Assets with simple credit characteristics, clear repayment conditions, and relatively long maturities have low evaluation costs during securitization, and the guarantee fees for asset securitization are also low, so the cost is relatively low, making it easier to securitize. On the contrary, assets with complex credit characteristics, uncertain repayment fund flows, and relatively short maturities are not easy to securitize. By this measure, residential mortgages are typically assets easily securitized. Because even if the loan conditions of each mortgage loan are very different, a group of mortgage loans will show strong regularity in terms of default rate, average repayment period, etc.