ARIZHK – 100 per cent “daughter” of the Agency for Housing Mortgage Lending (AHML) was established in early 2009 to support mortgage borrowers whose creditworthiness has declined as a result of the crisis. This ARIZHK betrayed them stabilization loans for one year, after which the borrowers were expected to return to the normal schedule of debt service. At the end of last year, when these hopes were not realized, ARIZHK introduced a program of re-restructuring of mortgage loans. Until now, it involves an exchange of restructured loans for bonds with AHML 20-25-percent discount.

In addition to the exchange of restructured mortgage loans on bonds ARIZHK offered to banks to buy such loans at par with the installments of approximately for five years, told Kommersant CEO Andrew ARIZHK Languages. “Many banks have criticized the mechanism for the exchange of loans for bonds because of the high, in their opinion, the discount arising from the use of securities AHML, – he said .- We have therefore proposed an alternative scheme: the banks will receive securities instead of” live “money around the same discount, as well as on paper, because of the installment plan “.

tools to increase re-restructuring of mortgage ARIZHK compelled to go because of the expectation of having to restore the solvency of one year after the restructuring will be able to slightly more half of the borrowers. According ARIZHK that the agency is building on the basis of global experience, roughly 40% of the restructured mortgages after the end of the period of assistance will not return to normal repayment schedule. A similar assessment last year and gave predpravleniya VTB 24 Mikhail Zadornov.

However, so far benefit from a new proposal ARIZHK banks are not in a hurry. At the moment, according to Mr. Yazykov, an application for the sale of restructured loans in ARIZHK filed about 30 banks in more than 2 thousand credits worth about 5.3 billion rubles. It is about 6% of all restructured mortgages in Russia. The fact that the first phase of restructuring the borrower could turn himself in ARIZHK a stabilization loan to repay bank debt, and now the decision on the fate of the borrower accepts only bank. “Grant repeated stabzaym borrower is impossible, because the debt burden on the borrower after the end of the period of assistance will be prohibitively high and may reach above 70% of his monthly income,” – says Andrew Language.

First all banks do not like the price issue. Discount of 20-25% – very high, say in “GPB-Mortgage”. “If I have a normal mortgage loan, what I sense to lose 20% of the sale of the loan, if I can sell it with virtually no loss?” – argues deputy chairman GPB-Mortgage “Alexander Egorov. “In both schemes, the bank bears the loss, and if the expected losses from the sale of the collateral is less, then the banks do not tend to connect to the program,” – continues a member of the board of bank “Revival” Andrei Shalimov. Nevertheless, in his view, the scheme is to be compensated for the money more attractive, because the bank will get funds faster than AHML on bonds maturing in 2028. “The banks have a surplus of liquidity – the analyst FC Metropol Mark Rubinstein .- Pressure of bad assets on capital has declined considerably, and on the background of improved macroeconomic indicators of the banks felt that the very best work with problem loans, realizing liens on them or expecting improve the solvency of borrowers. ” Due to objective circumstances of the banks an opportunity to bargain, which reduces the chances of borrowers to re-state aid, “he concludes.

No tags