JP2006134275A - Method for managing small-scale real estate finance scheme with efficiency and safety - Google Patents

Abstract

<P>PROBLEM TO BE SOLVED: To provide a method for banks to manage cash flows with efficiency and safety in a structure of nonrecourse loan for small-scale estates. <P>SOLUTION: Managing various reserve accounts (accounts) by trust accounts is laid down, and also trust works are entrusted to a loaner bank, and then the account is opened/set up at a loaner account so that financial flows can be clear for a loaner by using an automatic transfer processing. Cash flows in the trust accounts are made to have a same quality as cash flows managed by banks. <P>COPYRIGHT: (C)2006,JPO&NCIPI

Description

The present invention belongs to the field of product design when a financial institution lends a non-recourse loan using real estate as a substantial reserve.

In the case of small-scale real estate financing, in order to reduce costs and maintain economic rationality when taking the form of non-recourse loans, multiple special non-recourse loans (multiple trust beneficiary rights collateral) There are cases where schemes that provide loans are used.

In this case, in accordance with the normal non-recourse loan contract, if the lender performs reserve funding reserved for the lender after the waterfall (cash management) necessary for the account settlement of the trust, As a result, the initial goal of reducing costs will not be achieved.

On the other hand, there is a need for this part to ensure safety as a lender, both legally and practically, from the viewpoint of collateral maintenance.

Therefore, in practice, it is a problem to save the lender's trouble while maintaining the safety of the loan.

The present invention is a case where a financing project for a plurality of different real estate and investors is generated in a scheme using one special purpose company while blocking credit risk of investors so that non-recourse financing for small-scale real estate can be performed. It solves the problem of efficient and secure bank lenders for managing cash flow separation and principal and interest collection for each bank, and endeavors to withstand business practices.

In order to solve the above problems, the present invention operates through the following procedure.
(1) In each money consumption loan contract and each trust contract, various reserve accounts (accounts) that are usually set up within the lender are set as trust accounts (in the reserve account, LTV (loan 2 value) / DSCR (Debt Service Coverage Ratio) reserve account). At that time, a trustee name account and a beneficiary / borrower account were opened in the lender bank.
(2) The lender's bank concludes a business entrustment agreement with the trust bank and calculates the various reserve accounts specified in the contract at the timing of the settlement of the trust. This calculation includes the LTV / DSCR test, and instructions based on the calculation result are presented to the trust bank.
(3) The trust bank shall settle the trust account according to (2).
(4) Fund transfers (so-called waterfall within the trust) associated with the settlement of trust accounts are conducted by the trustee name account and the beneficiary / borrower established within the lending bank, and deducted necessary funds such as reserves and trust fees. The final amount is credited to the beneficiary / borrower account.
(5) The collection of principal and interest is automatically transferred from the account of the beneficiary and borrower set for each real estate trust as described above.

The present invention uses a conventional framework for a scheme in which a special purpose company established for each conventional project is one special purpose company and a loan is borrowed for each project in order to reduce costs in small-scale real estate non-recourse loans. However, it enables lenders to efficiently and safely separate cash flows and manage principal and interest collection.

The wave effect of the invention

Although the present invention has been devised to make the above-mentioned finance for small-scale real estate economically competitive, various applications are conceivable as follows.

Application of the present invention

The concept of the present invention = “Efficient and safe separation and management of project cash flow” can be applied to any project finance, use of trust account-delegation of trust administration to lender-account in lender bank In the flow of management-automatic transfer processing, it is possible to use it for fine-tuning not only for large to medium-sized real estate but also for various assets that can become trust assets. Also, even if there is no delegation of trust administration to the lender, it is possible that substantially the same effect can be obtained if it is specified in the trust agreement to reserve a certain amount.

Application example 1 of the present invention-qualitative application

As described above, instead of real estate finance, for example, even when loan receivables are used as collateral, such as loan receivable finance, the loan receivable is regarded as trust property, and an independent loan with multiple similar trust assets as provision assets In the scheme of executing for one special purpose company, the lender can obtain the same effect by using the present invention. As described above, the present invention can be applied not only to real estate but also to various asset finances (loan receivables, installment receivables, patent rights etc.).

Application example 2 of the present invention-quantitative application

Although the present invention has been devised to enable non-recourse financing for “small” real estate, it can also be applied to non-recourse financing for “large-scale” real estate from the viewpoint of cost alone. By utilizing the present invention, it is possible to construct a scheme with lower cost.

Application example 3 of the present invention-Application by simplified process

In the present invention, in order to make the lender's involvement more flexible and strong, it takes the form of delegating the trust affairs to the lender, but as described above, the reserve amount for the lender, It is also possible to pre-define the trust settlement system related to the lender in a trust agreement. In that case, the scheme becomes simpler.

It is a figure explaining the mechanism at the time of transaction of the finance scheme used as the premise of the present invention. It is a figure explaining the cash flow management method by this invention.

Claims (3)

In order to provide multiple real estate trust beneficiary collateralized loans with a special purpose company as a borrower, an account or account in the name of the trustee is established for each trust property, and the deposit to each account or account is entrusted for each trust property. For the purpose of calculation and transfer to a reserve account or account in the name of the trustee established for each trust real estate and an account or account in the name of the beneficiary and borrower The method according to claim 1, wherein the loan principal and / or interest payments are automatically transferred from an account or account balance in the name of a beneficiary / borrower provided for each trust real estate. In order to provide multiple real estate trust beneficiary collateral loans with a special purpose company as the borrower, an account or account in the name of the trustee is established for each trust property, and the deposit to each account or account is entrusted for each trust property. When a transfer is made to a reserve account or account in the name of a trustee established for each trust real estate and an account or account in the name of a beneficiary / borrower, the beneficiary / borrower name System that automatically transfers loan principal and / or interest payment from account or account balance

Images