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Finance and Credit
 

Development of mortgage securitization infrastructure in the Russian Federation

Vol. 27, Iss. 3, MARCH 2021

Received: 30 November 2020

Received in revised form: 4 February 2021

Accepted: 18 February 2021

Available online: 30 March 2021

Subject Heading: Securities market

JEL Classification: E44, G21

Pages: 484–504

https://doi.org/10.24891/fc.27.3.484

Sof'ya A. POTOMOVA Volgograd Institute of Management, Branch of Russian Presidential Academy of National Economy and Public Administration (RANEPA), Volgograd, Russian Federation
potomova@inbox.ru

https://orcid.org/0000-0001-7768-2888

Yurii Yu. RUSANOV Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
rusanov.yy@rea.ru

ORCID id: not available

Vladimir A. SLEPOV Plekhanov Russian University of Economics (PRUE), Moscow, Russian Federation
vlslepov@yandex.ru

https://orcid.org/0000-0003-0373-7190

Subject. This article examines the essence and current problems of the development of the mortgage securitization market infrastructure in the Russian Federation.
Objectives. The article aims to determine the essence of the infrastructure of the mortgage securitization market, the process of its development, and identify modern areas of its further transformation in the Russian Federation.
Methods. For the study, we used analysis and synthesis, classification, generalization, induction and deduction, structural analysis, and the methods of comparative, statistical, and dynamic analyses.
Results. The article presents an original interpretation of the concept of Infrastructure of Mortgage Securitization Market as a complex of interrelated institutions involved in the transformation of mortgage loans into derivative financial instruments. The article defines further paths of development of this infrastructure by forming a single subject of monitoring and regulation of the mortgage securitization market on the basis of the DOM.RF financial development institution in the housing sector of Russia.
Conclusions. The described essence of the infrastructure of the mortgage securitization market develops a framework of categories and concepts of the financial credit system.

Keywords: securitization, mortgage lending, infrastructure, development, mortgage securities

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