El notes

For the absolute majority of Russians mortgages have become very heavy, stated yesterday, Vladimir Putin, speaking at a meeting of the Board of the Development Bank. Until the fall of 2008 the volume of mortgage lending grew by leaps and bounds, he remembered Prime: from 60 billion rubles. in 2005 to $630 billion in 2008. “But the crisis has made some corrections: The volume of mortgage loans has declined severely, and their conditions get significantly worse,” – said Vladimir Putin.

And while banks once again begin to develop this area, reducing For example, the size of the initial contribution, the average cost of a mortgage loan of 14.5% remains high. “Revenues from us yet do not meet these demands of financial institutions”, – said Vladimir Putin urged the bankers to seek an accessible citizens rate no more than 10-11%. To support the trend to lower rates of mortgage lending, according to him, possibly due to the use of the RPF, which are administered by the Development Bank (about 690 billion rubles .).

«Up to 20% of funds may be invested in mortgage bonds of Russian banks. This is the amount of about 100 billion rubles. “- Counted, Vladimir Putin. Accordingly, this amount banks can issue a new housing loans have longer and cheap, says Premier. Later, the head of the Development Bank of Vladimir Dmitriev said that the bank is now studying the possibility of funding the mortgage with the proceeds from placement of the National Prosperity Fund.

According to deputy chairman of board of bank “Revival” Alexander Dolgopolov, 100 billion rubles. be enough to revive the mortgage market and the mortgage securitization market. “If we say that mortgage rates should be 10-11%, then this rate should be based on state funding, reserves, risk margins and profits – is discussing the vice-president of Bank of Moscow Andrey Lapko. – Yields on such bonds should not be more than 4-5%, subject to purchase at par. According to Andrei Lapko, any bank, which credits the mortgages will be ready for such funding.

Deputy Chairman of the Board of Bank Uralsib Ilya Filatov believes that the refinancing of mortgage loans due to the Pension Fund will be pass through AHML. Since the beginning of 2008 to November 2009-the first agency refinanced mortgage loans totaling 126 billion rubles.

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