The creditor is anxious to clear the real estate mortgage

Since the second half of the year, more and more real estate, real estate construction, land and other targets have been put on a judgment of judicial auction.

Author: Tian Guobao

Figure: Tuwa Creative

Guide

One || In addition to commercial banks, professional non -performing asset management companies are also important disposions of non -performing assets. Among them, Cinda, Huarong, Oriental and Great Wall are the four more well -known non -performing asset processing companies. Yuexiu Assets and other local non -performing asset disposal platforms.

构 || For financial institutions, when the market is good, it is more inclined to self -digesting. For example, a large part of the project developed by Xinda Real Estate comes from Cinda assets; Upgrade the transformation business, the mortgage is up to be updated and appreciates.

3 || Due to the outbreak of real estate liquidity risks, some developers have also achieved recycling cash flow through price reductions. The Economic Observation News learned that some developers' discounts in some cities are as low as 40 % off the market.

On the afternoon of September 21, at the intersection of Shunyi Songxiang Lake Street and Sixth Ring Road in Beijing, several red -and -white rebate buildings stood in the autumn wind, and some of the buildings had already moved in. The venue on the side is also close to the completion, some of the space tiles have not been paved, and the construction equipment is scattered around.

The project named in contemporary time will usher in the first judicial auction on September 30, with a starting price of 1.799 billion yuan. At the end of 2021, due to the developer Beijing Contemporary Jiuyun Real Estate Co., Ltd. owed Guang Daxinglong Trust of 730 million yuan, it was unable to repay. The project was enforced as a mortgage.

On October 8th, the Wangfu Century, located in Dongcheng District, Beijing, will also be auctioned. Unlike contemporary time, the Wangfu Century is auctioned with the 1.12 billion yuan of claims with Beijing Wangfu Century Development Co., Ltd. Beijing Bank.

On October 16, Borui Building, located near the East Third Ring Road in Beijing, will also start. The starting price will be 2.037 billion yuan. The creditors behind it are Xiamen International Bank.

Earlier in late August, Shanghai Junkang Financial Plaza was photographed at a price of 2.52 billion yuan in judicial auctions, and the creditors behind them were Liaoyang Rural Commercial Bank.

Since the second half of the year, more and more real estate, real estate construction, land and other targets have been put on a judgment of judicial auction. Shao Qi's inauguration financial institution is also the "salesperson". His provincial branches alone have tens of billions of bad claims in the disposal.

Among the bad claims of financial institutions, real estate such as real estate and land occupy an absolute advantage in various types of mortgages. "Some are new default mortgages, but most of them are inventory for several years." Shao Qi told the Economic Observation News, especially Since August, the sense of urgency of bad claims has become increasing.

"Financial institutions all accelerate the disposal of bad claims. I think everyone's ideas are the same." Shao Qi said that as the real estate market recovery is lower than expected in the second half of the year, these non -performing claims have the potential risks of depreciation. , Can't deal with it, pack and transfer. "

Disposal bond

The creditors behind the Beijing Wangfu Century, Beijing Borui Building and Shanghai Junkang Financial Plaza are commercial banks. As a debit of funds, banks are also important disposable disposables for bad claims, and there are many high -quality mortgages in their hands.

Since September, Minsheng Bank has launched a number of debt packages, of which the 142 million yuan debt of Beijing Taifeng Real Estate Co., Ltd. is part of the real estate in the Chinese Entrepreneur Building in Beijing; Among them, the mortgage is CITIC Guoan Headquarters Building.

Among the 10.75 billion yuan of non -performing debt of Qidi Innovation as a borrower, the mortgage is the Nanning ASEAN Science and Technology City project, of which 108,400 square meters of projects under construction and 184,500 square meters of land; Among them, the mortgage is a land of 3.98 million square meters in Changzhou.

Among the debt packets launched by Minsheng Bank, the most noticeable thing is the principal of Fudi Changtai Hotel Investment Management Co., Ltd. as a borrower of 3 billion yuan. The claim was two commissioned loans, one of which was 1 billion yuan, a 2 billion yuan, but what was really attractive was the mortgage.

According to the announcement, the mortgage of the 3 billion yuan of bad debt is the land and house located in Guozijian project located at No. 28, Guozijian Street, Dongcheng District, Beijing. The project is close to the Yonghe Palace and the Confucian Temple. There are a total of 6 buildings. The land area is 15,931 square meters and the building area of ​​the house is 40,290 square meters.

In addition, the claims have 428 oil paintings as pledge guarantees, with reference value of 2.4 billion to 6 billion yuan.

In the disposal of Ping An Bank's bad debt, real estate is also an important proposition. For example, among Shanghai Zhuyuan Real Estate's 1.195 billion yuan of bad debt, the mortgaged equity involves Yiyun Bay, Huijing Life Plaza, Maritime International and other real estate projects. ; Among another 1.4 billion to 1.5 billion yuan in debt, 41 real estate products involved in Huizhou Emperor Jing International Business Center.

Among the bad claims guaranteed by Suning Electric and Suning Real Estate in Shanghai Branch, the principal and interest were around 1.52 billion yuan. Mi, the construction area is 68637 square meters.

In addition to commercial banks, professional non -performing asset management companies are also important disposable parties for non -performing assets. Among them, Cinda, Huarong, Dongfang, and Great Wall are the four more well -known non -performing asset processing companies. Local non -performing asset disposal platform. Unlike commercial banks, professional AMC institutions have the total debt of the disposal of billions and tens of billions of dollars, which are usually packed and disposed of different types of claims. Taking Cinda Asset Hebei Branch as an example, the scale of claims launched on the claims reached 28.1 billion yuan, including 327 claims and assets.

Most of this giant claim package is traditional enterprises such as papermaking, mining, machinery, etc., involving the principal of 17.49 billion yuan in claims, and most of the mortgaged property is real estate such as land and factory buildings. In the age of the real estate industry, these old factories have belonged to the core area of ​​the city, so the assets are also chased by real estate developers.

In addition, the debt packets launched by Cinda Guizhou Branch reached 12.48 billion yuan, the creditor's rights package of Yunnan Branch was 7.49 billion yuan. The debt package, the debt package includes 211 real estate in Beijing, Tianjin and other places, as well as 34 land in Chongqing, Baoding, Yangjiang and other places.

In terms of disposal assets, the Great Wall is not inferior. There are 17 asset packets with a total debt of more than 3 billion yuan, of which 9 are more than 5 billion yuan, and 3 are more than 10 billion yuan. The scale of debt packets launched by Huarong and Oriental companies is relatively small, but they are generally larger than commercial banks.

in principle

The economic observation newspaper sorted out related asset packages and debt packages found that in the disposed of assets, the traditional manufacturing industry still occupies a large proportion, most of which are papermaking, machinery, metallurgy, chemical industry, mining and other industries, and some are business circulation. Enterprises in the field.

Among the non -performing debts of real estate companies, the main real estate enterprises and local small and medium -sized real estate enterprises are mainly used. Especially the small and medium -sized real estate companies that have become desperate due to the expansion of national housing companies around 2015, becoming a real estate non -performing debt rights. One of the subjects.

Among the earlier real estate companies, the assets of real estate companies such as Blu -ray Development, Aoyuan, CITIC Guoan, and Xinhua Lian are frequent customers in commercial banks and AMC disposal of non -performing assets. Among the real estate companies that have already exploded, most assets have not yet appeared in the sequence of legal auction or asset disposal.

Shao Qi told the Economic Observer that in the previous mortgage financing of real estate companies, the mortgage rate is usually about 70 % off, and the property mortgage rate of the core areas of the first and second -tier cities is relatively high; while the third -tier and fourth -tier cities far from the core urban circle The mortgage rate is relatively low.

According to him, among financial institutions' borrowing customers, the overall scale of real estate is not small, and about 30 % of various types of financing adds about 30 %. Most of them are mortgaged loans, but some subscribed credit bonds. Compared with other industries, mortgages of real estate companies are more likely to be favored by financial institutions.

Shao Qi said that although the financing of some housing companies has defaulted, some have extended the repayment period through the exhibition period, and some are still taking the litigation procedure. At this time, the thunder was started, and the peak period of the French auction was not reached. "

A person from a thunderous housing company told the Economic Observer that most of the land, projects, and unprecedented properties of the real estate enterprises were mortgaged to financial institutions, but as of now, no assets have been forced to dispose of assets. One of the main reasons is to maintain a good communication with financial institutions and strive to handle the exhibition period of overdue loans. Under normal circumstances, real estate companies need to pay a certain percentage of principal and interest first. If financial institutions need, credit increase measures such as mortgage or margin should be given.

In addition, related measures also need support from local governments, supported by local governments, and financial institutions are willing to extend the repayment period to enterprises. But for debt itself, this is just a temporary measure. If the exhibition period expires, the enterprise cannot be repaid, and it is still facing the risk of being auctioned by the mortgage.

Shao Qi told the Economic Observer that after the housing company broke the contract, the first step was to retract the collateral. Generally, within the scope of reasonable valuation, there were two or three -off. The degree is also different.

The second step is to clarify relevant legal disputes and make the assets clean. When the mortgage is seized or auctioned, other creditors or buyers will raise objections. At this time, the risk of mortgage impairment is facing the risk of mortgage impairment. The creditors need to solve these issues one by one through legal channels.

After these things are done, they will enter the disposal program. The disposal of non -performing debt mortgages either auction of mortgagers, or recruiting partners, or transferring to third parties together with the claims. Because related disputes have been resolved, a certain premium will occur.

For financial institutions, when the market is good, it is more inclined to self -digestion. For example, a large part of the project developed by Cinda Real Estate comes from Cinda assets; , The upcoming mortgage is updated and appreciated.

However, in the context of the current market downward, most financial institutions are more inclined to deal with direct realization. "If the market is down, if it continues, it will face the situation of insufficient mortgage rates. Need, otherwise it will form a greater adverse rate, "Shao Qi said.

Risk of depreciation

Customers of large financial institutions are usually divided into corporate customers and individual customers. Taking banks as an example, they have both various types of financing for enterprises and various personal loans. Credit loan, such as personal credit loans.

Among the mortgaged personal loans or corporate financing, any real estate or real estate can become a collateral. Compared with the losses such as vehicles and equipment, real estate as the advantages of small mortgages as mortgages, and the background of real estate upward trends. Below, real estate and land have strong anti -risk capabilities as collateral and non -performing assets.

Since 2022, due to the repeated epidemic, real estate companies, and market expectations, the market has been significantly down in the first quarter; in the second quarter, the property market began to fall in April, and in May entered the restoration period. Large increases, the gap between the same period of previous years has been further reduced.

Entering July, the property market has declined slightly from the previous month, but because the property market in July in previous years was not as good as June, most people in the industry judged that it was a normal callback; but after the data came out in August, it was further lowered compared Confidence was loose, and the property market in the first half of September still showed no signs of improvement.

According to Wind data, in August 2022, the transaction area of ​​30 cities commercial housing was 12.29 million square meters, a decrease of 34.75%month-on-month. As the property market began to fall sharply from August 2021, the year-on-year decrease was reduced to 19.2%; September 1-September 1- On the 21st, the transaction of 30 cities decreased by 33.6%year -on -year.

The transaction is downward, making housing prices differentiated. Different cities, different areas, and different types of houses in the same cities, and the same area, the price changes are different.

Due to the outbreak of real estate liquidity risks, some developers have also achieved recycling cash flow through price reductions. The Economic Observation News learned that some developers' discounts in some cities are as low as 40 % off the market.

The downlink of the property market is also passed to the land market, and land transfer fees are one of the most important sources of income from local governments. In the opinion of the above -mentioned thunderous real estate companies, if the mayor of the property is in a downturn for a while, it will not rule out the further lower of house prices and even land prices, which will further affect expectations and confidence.

The expectations and confidence of the property market are also the variable factors worried by most financial institutions, especially the bank institutions with large exposure of real estate mortgage loans.

Shao Qi said that each large financial institution has certain bad claims and assets. In the age of the property market period, the bad claims generated when the property market is sluggish, usually the disposal can be achieved in the upper period of the property market, and a certain premium can be obtained. "" As long as the property market is upward, there is no risk in financial institutions. "

However, the downturn in this round of the property market obviously surpassed the expectations of most financial and real estate people. Moreover, when the property market enters the upward channel, most people have no expectations. In the context of increasing uncertainty, the more financial institutions with more real estate mortgages will feel uneasy.

"Most of the first- and second -tier cities such as Beijing are 80 % of the down payment, and the lowest is 60 %. Even if house prices fluctuate slightly, it will not affect the mortgage rate." Shao Qi said. The bottom line that financial institutions can accept are 30%.

In Yanjiao, large factories, Xianghe and other regions, the mortgage rate of some real estate is obviously insufficient due to house prices.

"Why the institutions are anxious to dispose of bad claims," ​​Shao Qi said, "the realization should be early."

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