The experts recommended the company establish mortgage re national housing inventory to handle real estate, housing market formation for low-income people and solving the funding medium and long term real estate market.
Here is a suggestion in a recent research report of the Research Centre, Bank for Investment and Development of Vietnam (BIDV). The team says the model company re-housing mortgages country of Malaysia Cagamas is considered secondary mortgage model the most successful in the developing world and can learn and apply in Marketing Vietnam.
Cagamas Berhad According to its website, the company launched in 1986 to promote the secondary housing market in Malaysia. Cagamas model is considered as the World Bank succeeded in building institutional liquidity to the secondary mortgage market. Cagamas debt issuance to take capital and then use these funds to purchase and support of mortgage debt as collateral for the bank as well as for home buyers (with options). The company is now the second largest debt issuance, after the government of Malaysia and currently holds 41% market share in housing finance in the country.
Provided Vietnam, the study authors said BIDV company can mobilize and use of ODA loans, issuing bonds guaranteed by the Government to obtain re-lending capital, repurchase of loans may have a term of up to a few decades from the financial institutions on the primary mortgage market, issuance of securities based on mortgage loans to housing (securitized mortgage loans home in) and thus performs the function of a channel medium and long-term capital from the capital markets to the mortgage market.
The company also helps solve the problem of putting a long-term source of capital real estate market is currently lacking, develop long-term financial markets for housing, is the tool of the government to support groups phenomenon troubled housing.
The team said that international experience suggests, to develop the market for secondary mortgages, countries have established financial institutions in particular the implementation of the mortgage refinancing to strengthen and expand market liquidity for the primary mortgage. If put into operation, the company re-housing mortgages country will contribute alleviate difficulties for the real estate market.
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