국내 주택담보대출에 대한 법적 규제의 개선방향 - 과잉대출 규제 및 금융소비자 보호를 중심으로 -

For recent 5 years, the rapid increase of home mortgage loans in Korea has assumed very serious dimensions as the size and structure of home mortgage loan can react as a factor for new financial risk in the long term. When the rapid downturn of consumption and house prices plunge or interests increase under drastically accumulated household debts, it can put pressure on repayment for household’s principal and interests, and lead to deteriorated profitability and soundness of financial institutions where loans are heavily weighted. Loans exceeding one’s repaying ability can become a malicious debt, ruining sound household and financial markets, and can lead to business capital crunch, affecting negative impact on the nation’s economic flows. Relevant legislation has been proposed in National Assembly a couple of times. In the current session, 3 relevant drafts are on the reviews. Seemingly each proposals’ legislative purpose and solving methods are respectively different. The goal of this paper is precisely to consider how current regulation of home mortgage loan should be reformed and to suggest more reasonable way for loan consumer protection. Current regulation on the home mortgage loan in perspectives of protecting the financial consumer must be reformed. We should categorize conforming mortgage loan and non-conforming loan according to the debtor’s repayment burden’ increase as loan periods elapse. The debtor’s credit ratings, reimbursement ability and reasons for buying a house, should be checked before lending. Unfavorable conditions such as limits and interests for non-conforming loans should be noticed to consumer and regulated, and such regulations can led to set up responsible lending practice in the market. Furthermore, we should consider debtor’s right to defend against hybrid financial loan product and to protect and save minimum value against foreclosure in the perspective of the right of residence.