President of Russia signed a law that increased the amount of mortgage
March 12, 2010 – 1:56 pmRussia President Dmitry Medvedev today signed a federal law “On Amending Article 3 of the federal law” On Mortgage Securities, “reports the Kremlin press service.
Document adopted by the State Duma on 19 February 2010. and approved by the Federation Council on March 3 2010, allows to include in the mortgage-backed securities mortgage loans in which the proportion of funds provided by the bank, is 80%, and equity to citizens – 20%. The current wording of the law loans with a ratio of the loan amount and the appraised value of the collateral above 70% can not be sekyuritizirovany.Kak noted the presidential press service of Russia, changes intended to help expand the range of mortgage-related assets subject to securitization, which would entail an increase in the volume of mortgage loans .
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