Improving mortgage lending programs

Metreveli Elizaveta Georgievna

the publication discusses the key credit and financial aspects of the development of housing mortgage lendings (HMLs) in the Russian Federation, analyzes mortgage programs implemented by credit organizations, and suggests priority ways to solve identified problems. HML programs offered by credit organizations of the Russian Federation are classified into general programs; joint programs implemented mainly with developers; specialized programs with a reduced rate with or without funding from the budget and extra-budgetary funds. According to the analysis results, the analysis of HML programs of 50 commercial banks of the country, represented in all subjects of the federation related to the TOP-100 commercial banks by capital size, and working in the HML for over 3 years, concluded that all available programs are characterized by one or another degree of imperfection. The main problems of the implementation of housing mortgage lending programs in Russian commercial banks are identified, ways of improvement are proposed that combine public policy measures aimed at a general increase in business activity and a decrease in the cost of credit resources, as well as the development and completion of reforming the stock market and the banking system of the Russian Federation; and measures to develop banking mortgage programs based on overcoming the problems of high interest rate risks, pressure on capital and limited funding.

Keywords:housing mortgage lending, housing problem, mortgage programs, subsidized rates, escrow accounts, mortgage lending programs, mortgage rate