Banking. Mortgage banks and their operations (Western model, experience in the Russian Federation) (lecture notes)

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Banking. Mortgage banks and their operations (Western model, experience in the Russian Federation) (lecture notes)

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Mortgage banks and their operations (western model, experience in the Russian Federation)

Mortgage banks - banks that specialize in providing loans secured by real estate - land and buildings. These include land banks, which issue long-term loans, mainly secured by land.

The resources of mortgage banks are their own savings and mortgage bonds. Mortgage banks tend to carry out regular banking operations, which allows them to increase their income and maintain links with the broader money market.

Mortgage bonds are long-term securities issued against the security of real estate and bearing a fixed interest. Mortgage bonds are issued both by mortgage banks and commercial and industrial corporations.

Mortgage bank resources are used to provide mortgage loans.

A mortgage loan is a long-term loan secured by real estate. The pledge of real estate for the purpose of obtaining a loan is also called a mortgage.

This loan allows entrepreneurs to increase their productive use of capital and landowners to finance the purchase of additional land. It is provided by special mortgage banks (in countries where they are available), as well as commercial, agricultural and other banks.

For a mortgage loan, in addition to long-term, it is typical to leave the pledged property in the hands of the debtor, who continues to exploit it. Re-mortgaging is allowed with obtaining an additional loan, if the value of the property is not depleted by previous mortgages and the debtor has the economic ability to pay interest and repay the debt.

Currently, a mortgage loan is expanding its scope - loans are mainly used for the construction of residential buildings, commercial buildings and an increase in production assets, that is, the scale of operations related to urban real estate is growing, urban mortgages are expanding (Denis Shevchuk).

Interest rates on mortgage loans, as a rule, are differentiated depending on the financial situation of the borrowers.

If the debt is not paid on time, the borrower loses the property, which is the loan security.

Long-term cash savings, formed by issuing mortgage bonds, accumulated in the mortgage market, which was part of the securities market. The subject of transactions in the mortgage market is mortgage bonds. The source of resources is the monetary savings of corporations, the population, and the state, accumulated in the accounts of credit and financial institutions involved in mortgage transactions.

In modern conditions, the resources of the mortgage market are actively used to update and expand the production assets of commercial and industrial corporations, finance agriculture and housing construction.

Mortgage credit is subject to state regulation, which follows from the general direction of the increasing role of monetary regulation of the economy of developed capitalist countries after the Second World War. This regulation includes ensuring the liquidity of mortgage banks, the obligatory storage of a certain part of the funds attracted by them in central banks, control over the volume of credit operations and the issue of securities, and other measures.

After 1917 mortgage banks in Russia were liquidated. In 1992, an investment land bank was created in Russia.

The shareholders of this bank could conduct large-scale operations with land and real estate, receive secured loans, participate in regular land auctions of the bank, and also use the services provided by the bank.

Author: Shevchuk D.A.

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