Peculiarities of Organization of the Foreign Mortgages and Mortgage-Backed Securities Market

Abstract

The development of Russian efficient market economy requires creation and functioning of the financial market with modern stock instruments. The Mortgage-Backed Securities Market is an important segment of the financial market. Considered European and American models of the mortgage securities market organization are significantly different in: sources of mortgage loans financing; mechanisms of mortgage operations regulation; methods of mortgage institutions supervision; mortgage-backed securities investment environment; mortgage market infrastructure; role and functions of state at the mortgage market. The authors, basing on the analysis of foreign literature, considered models of the Mortgage-Backed Securities Market organization in developed countries, which allows them to develop and offer recommendations for improving the functioning of the Mortgage-Backed Securities Market.

DOI: 10.5901/mjss.2014.v5n24p124