| Issue |
SHS Web Conf.
Volume 129, 2021
The 21st International Scientific Conference Globalization and its Socio-Economic Consequences 2021
|
|
|---|---|---|
| Article Number | 10001 | |
| Number of page(s) | 9 | |
| Section | International Relations and Globalization | |
| DOI | https://doi.org/10.1051/shsconf/202112910001 | |
| Published online | 16 December 2021 | |
Globalization of mortgage-backed securities market in Russia: Legal impact on transaction economy
1 Volgograd Institute of Management, branch of RANEPA, Economic department, 8, Gagarin st. Volgograd, Russia
2 Volgograd Institute of Management, branch of RANEPA, Economic department, 8, Gagarin st, Volgograd, Russia
3 Volgograd Institute of Management, branch of RANEPA, Economic department, 8, Gagarin st., Volgograd, Russia
4 Volgograd Institute of Management, branch of RANEPA, Economic department, 8, Gagarin st., Volgograd, Russia
* Corresponding author: sevostyanova.sa@ya.ru
Research background: The exponential growth of mortgage lending has taken on increasing importance in development of securitization activities market for mortgage assets throughout the world. The difficulty of comparing mortgage-backed securities of different countries explained by varying national legal features is the reason why there is no international market for such securities. Since 2014, the mortgage securities market has entered the stage of nationalization; as a result, it slowed down and lost the necessary infrastructure, including its legal components. Since securitization of mortgage loans first originated and became common in developed economies, it is of interest to compare Russian and international experience of legal regulation of each transaction stage.
Purpose of the article: The purpose of this paper is to analyze legal regulation features of mortgage securitization in different countries and their impact on economic characteristics of securities in order to develop a globalization strategy for this market.
Methods: The study is based on open data from Russian, European, American, England Central Banks and uses methods of structural, statistical, dynamic analyses and abstraction which made it possible to form holistic and substantiated conclusions.
Findings & Value added: As a result of research activities, key features of legal regulation of mortgage securitization transaction have been identified. Based on these findings, a strategy for globalization of mortgage securities market was proposed. It contributes to international cooperation development in the field of long-term projects financing, including support measures of mortgage lenders.
Key words: securitization / mortgage lending / international financial market / globalization
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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