Development of mortgage securitization infrastructure in the Russian Federation

Abstract

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.