Mortgage System Research Articles

Responsibility of Land Deed Officials: Implications of Legal Convergence on the Harmonization and Integration of Collateral Law and Telematics Law

The dynamics of the convergence of telematics law within the national legal system, notably in the area of land, are represented by the Minister of Agrarian Affairs and Spatial Planning's Regulation Number 5 of 2020, which also serves as the head of the National Land Agency. One of the effects of land digitization is the Ministerial Regulation, which has changed the mortgage rights registration process from a traditional system to an electronic or digital one. Despite being virtual, the digitalization of Mortgage Rights registration involves actual legal actions with clear legal ramifications. The Land Deed Official is directly involved in the electronic execution of Mortgage Rights, which is governed by the Regulation of the Minister of Agrarian Affairs and Spatial Planning / Head of the National Land Agency number 5 of 2020. The objective of this study is to investigate the consequences of the convergence of the Law on Mortgage Rights and the Telecommunication Law. This convergence results in the creation of digital-based Mortgage Rights via an integrated Electronic Mortgage Registration system, which is also known as the Electronic Mortgage System. The role and obligations of the Land Deed Official are also affected by this. This study employs a prescriptive, normative-juridical methodology. Based on the research findings, it is known that the conversion of the collateral registration system from a traditional system to a digital system is affected by the convergence of telematics legislation and the law of collateral guarantees. Because of the discord and breakdown of the Mortgage Law, the Electronic Information and Transactions Law, and the Regulations of the Land Deed Official, this also affects the status and legal obligations of the Land Deed Official, who fails to maintain the principle of justice..

MORTGAGE LENDING AS A FACTOR OF SOCIAL AND ECONOMIC DEVELOPMENT OF THE COUNTRY

A mortgage and a mortgage loan are components of the mortgagesystem, the evolution of which dates back several millennia. During this period, there was a transformation of views on the mortgage -from a pledge -a plot of land to an understanding of the mortgage as a financial instrument in the mechanism of socio-economic development of the country.In the lands of Ukraine, the mortgage system arises and develops simultaneously with the development of banking. At the end of the 19th and the beginning of the 20th centuries. a network of mortgage banks was formed on the territory of Ukraine, and mortgages acquired credit functions and turned into a supply channel for investments in agriculture. In the modern period, a mortgage loan is an effective tool in the mechanism of development of the market economy. Mortgages not only stimulate the construction of new housing and provide housing for the country's population on a market basis, but also launch the mechanism for the development of the securities market, the banking and insurance market, and allow the creation of additional jobs in the construction industry and in the production of consumer durables. The action of the mortgage has a multiplicative effect and allows to achieve a significant socio-economic effect, is a factor in the birth of the middle class in societyand a prerequisite for the formation of social well-being. A key role in the development of mortgage lending in the modern period is played by the state program "eOselia", which began working in Ukraine in October 2022 and allowed to obtain a mortgage loan from 3% to 7% per annum. Since the beginning of the "eOselia" program in Ukraine, mortgage loans in the amount of more than 13 billion hryvnias have been issued, and more than 8,500 families have benefited from this program.Adapting the work of the mortgage system to the conditions of war, the aggravation of security risks and demographic changes, requires the participants of the mortgage market to improve the business models developed in pre-war times, to look for new forms for the restoration of mortgage lending, to conduct constant monitoring of social, political and economic factors. The adaptation mechanism on the part of the state provides for the strengthening of legal control over all elements of mortgage lending and maximum support through the transparency of pricing for mortgage loans.

BATASAN PERTANGGUNGJAWABAN PPAT TERHADAP KETIDAKABSAHAN DOKUMEN KELENGKAPAN PERSYARATAN DALAM SISTEM HAK TANGGUNGAN ELEKTRONIK (HT-EL)

This research aims to analyze the limits of PPAT's responsibility for documents completing the requirements in the Electronic Mortgage System (HT-el) as well as analyze the legal protection of PPAT as the person responsible for the validity and correctness of documents in the HT-el system. The research was conducted by the authors using a normative juridical writing method with descriptive analysis with a conceptual approach and a statutory approach. The legal sources used are primary, secondary, and tertiary legal sources using literature study methods and then analyzed by the author using systematic, extensive, and comparative interpretation. The limitation of PPAT's responsibility for the HT-el system is limited to the process of making a statement letter. If PPAT has carried out its duties and procedures by the provisions then it cannot be punished by Article 51 Paragraph 1) of the Criminal Code and according to Supreme Court Jurisprudence 385/K/Pid/2006. PPATs in carrying out their profession receive legal protection, namely preventive legal protection and repressive legal protection. PPAT's preventive legal protection in carrying out each of its duties and authorities must be based on the precautionary principle. Repressive legal protection: A PPAT can make efforts to defend themselves and receive legal assistance in the form of advice, input, or assistance during the investigation process.

Research on the Construction of Intelligent Contract Mortgage System for Enterprise Financial Risk Control based on Blockchain Technology and Information Disclosure Theory

Research on the Construction of Intelligent Contract Mortgage System for Enterprise Financial Risk Control based on Blockchain Technology and Information Disclosure Theory

Choosing a mortgage lending model in the Kyrgyz Republic

In the modern world, mortgage plays an important role in the life of the citizens of the country due to its important role in providing their housing needs. Thus, it is important to find the most effective model of mortgage lending for the country to maximize the living standards of its citizens. The aim of the work is to choose the most effective model of mortgage lending that can be used in the country and bring the greatest benefit to it. The main methods used in the research were analysis, deduction, induction, and abstraction. The paper examined various aspects of mortgage lending, focusing on the different payment models and their implications for borrowers. Two types of mortgage loans were considered: with annuity and differentiated payments, their main differences in terms of payment rates were described, and mathematical formulae for their calculation were specified. To illustrate the impact on the borrower of each of them, a theoretical example was provided, on the basis of which the differences between the two systems were described. The paper also describes three models for organizing mortgage lending systems: a closed (stand-alone) mortgage system, a truncated open model and an extended open model. The suitability of these models for the development of the Kyrgyz mortgage market was assessed based on their characteristics and features, positive and negative components. The work brings new knowledge in the context of studying the peculiarities of mortgage lending as a whole, as well as allows finding opportunities for improving its functioning in the Kyrgyz Republic

Analysis on the Elderly Care Model of Housing Reverse Mortgage System

Analysis on the Elderly Care Model of Housing Reverse Mortgage System

MORTGAGE REAL ESTATE MARKET: LENDING TO HOUSEHOLDS BY COMMERCIAL BANKS OF UKRAINE DURING THE STATE OF MARTIAL

MORTGAGE REAL ESTATE MARKET: LENDING TO HOUSEHOLDS BY COMMERCIAL BANKS OF UKRAINE DURING THE STATE OF MARTIAL

Genesis of the Russian Financial System and Ways of Its Transformation: Soviet and Modern Periods

The financial system is derived from the economic model of society. The purpose of our research is to develop the scientific foundations of the genesis of the Russian financial system, allowing us to determine the conditions, causes, factors and elements that can form scientific and practical proposals for its further development, taking into account the current political and economic situation. The Russian financial system has gone through several stages of development: catch-up development finance, war communism finance, new economic policy finance, Soviet finance, neoliberal and globalist finance, national finance. At each of these stages, fundamental changes occurred both in the financial system itself and in its elements. In theory and practice, there is high theoretical, methodological and methodological uncertainty regarding the elements of the financial system. In this context, their study from a historical perspective is relevant. It is proposed to highlight the following main elements: national currency, payment system, monetary relations, tax system, banking system, insurance system, mortgage system, public finance, securities market, mutual investment funds and non-state pension funds, exchange trading, existence of relationships with international finance. The research methodology is based on a theoretical analysis of the basic scientific principles of the formation of the financial system and its elements. The information and empirical basis for the study were scientific research, statistical data, and analytical reviews. The object of observation is the Russian financial system for the period 1928 to the present. The scientific novelty lies in the formation of the author's conceptual approach to the financial system and its elements, and the imperatives for the emergence of economic problems caused by the underdevelopment of the financial system are identified. The study showed the need to further improve the elements of the financial system to ensure economic growth and development.

Genesis of the Russian Financial System and the Ways of its Transformation: the Period Before 1928

The life of modern human society is impossible without an effective economic model. In turn, functioning economies are ensured by the financial system of society. The purpose of this scientific research is to formulate a scientific approach to the development of the domestic financial system, which, unlike most foreign ones, has gone through stages of a complete change in the current paradigm. The Russian financial system has gone through mutually exclusive stages of development: finance of catch-up development, finance of war communism, finance of the new economic policy, Soviet finance, neoliberal and globalist finance, national finance. Each of these stages reflects fundamental changes in the methods and methods of management, which could not but affect the elements of the financial system. In financial theory and practice, there is high theoretical, methodological and methodological uncertainty regarding the elements of the financial system. In this context, their study from a historical perspective is relevant. It is proposed to highlight the following main elements: national currency, payment system, monetary relations, tax system, banking system, insurance system, mortgage system, public finance, securities market, mutual investment funds and non-state pension funds, exchange trading, existence of relationships with international finance. The research methodology is based on a theoretical analysis of the basic scientific principles of the formation of the financial system and its elements. The informational and empirical basis for the research was scientific research by Russian and foreign scientists, data from state and corporate statistics, and information and analytical reviews. The object of observation is the Russian financial system before 1928. The scientific novelty lies in the formation of the author's conceptual approach to the financial system and its elements, and the imperatives for the emergence of economic problems caused by the underdevelopment of the financial system are identified. The study showed the need to further improve the elements of the financial system to ensure economic growth and development.

PENGGADAIAN SAWAH DAN LADANG DI KECAMATAN CIPANAS KABUPATEN LEBAK DALAM PERSPEKTIF SYARIAH

This research aims to reveal analytically the sharia mortgage system in Cipanas District, Lebak Banten Regency. This study uses a qualitative descriptive analysis method with a historical juridical approach. The data collection technique in this research is based on a case study in the form of a sharia system mortgage which refers to classical jurisprudence books in Cipanas sub-district, Lebak Banten Regency. Next, analyze the texts that are references for the local community in sharia pawning. From this research it was found that the sharia mortgage system in Cipanas sub-district, Lebak Regency does not fully follow the sharia system contained in the classical fiqh book which they consider as a reference.

Harmonization of Online Mortgage Regulations as a Form of Legal Certainty

Objective: The topic of this study is the obligations and role of a notary in the registration of electronic mortgages under the conditions of the 2019 Mortgage Law and the 2019 ATR/BPN Ministerial Regulation No. 9. Legal clarity in the procedures used to electronically register mortgages. Theoritical Framework: The author employed Gustav Radbruch's theory of legal certainty to analyse the issues with this study. Legal certainty can be attained through the application of penalties to legal subjects, including people and legal entities, which places more emphasis on the process of implementation than the results of it. When it comes to taking legal action when the contract's execution is in default or even when it has been achieved, certainty offers clarity. Method: This research is included in the category of normative legal research, which analyses laws and regulations in a coherent legal system. The comparative methodologies are used to compare laws and legal systems which contain the principles and governing norms that arise from a set of legal objectives. Result and Conclussion: Land is important and can even be used as development capital within the framework for national development. The registrant must complete a process and satisfy requirements relating to the registration of mortgage rights before a mortgage certificate can be realized. In general, the owner must grant the mortgage himself. This enables the mortgage giver to appoint a substitute should he be unable to attend the PPAT in person. Land deed making official (PPAT) is one of the users of electronic mortgage services. Officials for drafting land deeds (PPAT) are required to be registered in the Work Partner Application since they are the institution entitled to undertake the process of registering Mortgage services online. Regulation of the Minister of Agrarian Affairs and Spatial Planning / Head of the National Land Agency Number 5 of 2020 on Electronically Integrated Mortgage Services provides legal certainty for mortgage givers, mortgage beneficiaries, and third parties. Using Ministerial Regulations as the legal basis for the implementation of electronic land registration is not entirely correct because, in many property dispute cases, the government loses because the regulatory criteria are too loose. Research Implications: Implementation complies with the rules to register Mortgage Rights electronically in accordance with the provisions of Article 10 addressing the role of officials creating land deeds (PPAT) during the registration process. For the integrity and authenticity of electronic documents, the Mortgage certificate issued by the Electronic Mortgage system is given a signature using electronic devices used as verification and authentication tools. Of course legal certainty is guaranteed for all parties, both officials making land deeds (PPAT), and the Agrarian and Spatial Planning Office / Land Agency. Originality/Value: The Law on Rights of Dependents and the Regulation of the Minister of Agrarian and Spatial Planning / Head of the National Land Agency of the Republic of Indonesia Number 5 of 2020 conflict, making it impossible to apply electronic registration of dependent rights because the UUHT is still in effect and does not grant the Regulation of the Minister of Agrarian and Spatial Planning / Head of the National Land Agency delegate authority.

Multi-valued model checking IoT and intelligent systems with commitment protocols in multi-source data environments

In today’s world of connectivity, various domains use different multi-sensor Internet of Things (IoT) and Intelligent Systems (IS) applications. These applications involve extensive interactions between thousands or millions of components in open environments, which challenges verifying their reliability and efficiency. This paper introduces the first investigation in verifying IoT applications and intelligent systems in multi-source data settings with multi-agent commitment protocols in uncertain or inconsistent environments. Specifically, we present original and efficient solutions for modeling and verifying these systems with conditional and unconditional commitment protocols under uncertain or inconsistent settings. We introduce 4v-CTLc and 4v-CTLcc, multi-valued logics of commitment for reasoning about inconsistency over these systems that expand 3v-CTLc and 3v-CTLcc for reasoning about uncertainty. Moreover, we introduce new reduction algorithms for reducing our multi-valued model checking problems to the two-valued ones. To implement these algorithms, we develop two new automatic verification tools. The first tool translates the multi-valued logics to CTL and automatically interacts with the NuSMV model checker. The second tool translates these logics to the two-valued versions, CTLc and CTLcc, and automatically interacts with the MCMAS+ model checker. We apply our verification approaches to a Smart Home, a Smart Hospital and a Smart Mortgage system with multi-source data as case studies using sets of properties, including safety, liveness and reachability. The experimental results obtained by the proposed multi-valued model checking techniques proved these techniques’ high efficiency and applicability to modeling and verifying intelligent and autonomous multi-source data systems.

On the Possibility of Property Division Acquired Using the Accumulative Mortgage System of Housing Provision for Military Personnel in Case of Divorce

The article considers the problem that arises during the divorce of spouses on the division of property, related to the peculiarities of military mortgages. The main problem is the question of the legality of recognizing residential premises acquired in marriage using mortgage lending in the accumulative mortgage system as joint property of the spouses. The decision on the division of such property in case of divorce also depends on the answer to this question. There is a discussion on this issue in legal science, and also there is no uniformity in judicial practice. Based on the analysis of the doctrine and law enforcement practice, the author comes to the conclusion that residential premises acquired in marriage with the use of mortgage lending in the accumulative mortgage system of a military serviceman should be recognized as joint property of spouses, including the aim of protecting the interests of a serviceman’s family members. This provision is affirmed by the Supreme Court of the Russian Federation in a decision on a specific case, but it should be formalized at the level of judicial practice review or in Ruling of the Plenary Session of the Supreme Court of the Russian Federation.

Empirical Explorations of the problems and Prospects of Land Ownership in Rural Areas of Bangladesh

This paper investigates and empirically explores the problems and prospects of land ownership grounded in rural areas of Bangladesh. Both qualitative and quantitative methods were used and data were collected by using the tools and techniques of social survey and Focus Group Discussion (FGD) along with Key Informant Interview (KII). Achieving ownership of land, forms of ownership, the mortgage system, and the lease system were identified as both the problems and potentials in this study based on certain social contexts and rural socio-economic institutions. The research also finds that the problems of land ownership have a significant role in agricultural development, and it is a hindrance to the new and becoming land owners. Social class on the basis of land ownership has been explicitly clear in the study area. 

중국 민법전을 통해 본 저당권의 특징

The analysis in this study is the contents of the characteristics of mortgage rights revealed in the Chinese Civil Code. The mortgage system plays an important role in the process of economic development by enabling individuals or companies in need of funds to obtain credit by providing certain collateral for financing. This study has great significance in that it analyzed the core contents of the mortgage rights stipulated in the Civil Code for the first time in Korea.
 It is also characteristic that China, unlike Korea, widely recognizes the object of mortgage by using the term 'mortgage property', which includes movables. In addition, although it is not yet regulated in our civil law, the fact that China has accepted and implemented the floating charge system, which is being implemented in advanced countries, has many implications for us. In China, buildings can be the object of mortgage, but land is unique in that only land use rights, not land ownership, are the object of mortgage.
 In particular, the Civil Code supplemented provisions related to land contract management rights, a property right unique to China, in order to protect the stability of life and the minimum basic right to live for farmers, who account for half of China's population. In this respect, the Civil Code seems to reflect the intention to protect the rights of farmers, and to revitalize the rural economy. Such differences in mortgage systems between Korea and China are fundamentally derived from differences in the political and economic systems of the two countries.
 Lastly, the Civil Code is evaluated as an 'encyclopedia of social life' because it establishes rules for basic conduct in the process of individual participation in social and economic life and deals with many contents related to social life. Therefore, individuals and foreign corporations doing business in China have to understand the mortgage system which have a very important meaning in the course of economic activities.

Perlindungan Hukum Kreditur Terhadap Meninggalnya Debitur Sebelum Pendaftaran Hak Tanggungan Elektronik

The electronic mortgage system is expected to provide convenience for users of the system, but in its implementation it has not run optimally. One of the problems that arise is when the debtor dies after making the APHT and SKMHT which is then followed by the registration of mortgage rights. This study aims to find out how legal protection can be given to creditors against the death of the debtor before the electronic mortgage registration process is carried out. This research is a normative legal research. The data used in this study is secondary data. The collected data is then analyzed descriptively qualitatively by using a conceptual approach or concept approach. The results of this study indicate that there are two forms of legal protection for creditors against the death of the debtor prior to electronic registration of mortgage rights, namely preventive legal protection and repressive legal protection. The application of preventive legal protection is intended to prevent problems from arising in the future, while repressive legal protection is carried out with the aim of resolving disputes that arise between the parties.

Tinjauan Atas Prosedur Sistem Kredit Kepemilikan Rumah Pada Kantor Pusat Developer Property Syariah Bogor

The needs of human life are divided into three principles, namely clothing, food and shelter. The rapid growth rate has caused the need for clothing, food, housing to increase, especially in meeting primary needs such as housing, so there is a mortgage system that helps residents to obtain basic/primary housing needs. 
 This study aims to determine the financing model or procedure used by the Sharia Property Developer Head Office in providing Non-Bank Sharia Home Ownership Loans to the public. Non-bank Sharia Home Ownership Loans are basically home loans for prospective home buyers who do not use banks in practice. 
 The results showed that the financing model for non-bank Sharia Home Ownership Loans was not the same as Sharia Ownership Loans that used banks. The results of this study are that Sharia Home Ownership Credit at Sharia Property Developers uses the concept of bankless credit, without fines, free of usury, without confiscation and without problematic contracts, so that sharia mortgages at Sharia Property Developers are in accordance with the principles of sharia mortgages in Islam.
 Keywords: Review of Food Needs, Sharia Home Ownership Loans, Sharia Property Developers

Nonbanks and Mortgage Securitization

This article reviews the dramatic growth of nonbank mortgage lending after the Global Financial Crisis, especially to borrowers with lower credit scores, and the related importance of mortgage-backed securitization. Our literature review suggests that the existing theoretical and empirical work on securitization is more relevant to bank than to nonbank lenders, thus leaving outstanding questions as to why nonbank market shares have increased to their current levels and how best to structure nonbank oversight. To highlight key differences in the mortgage-lending incentives of banks and nonbanks, we build a simple theoretical model of bank versus nonbank mortgage lending and use it to generate and test empirical hypotheses. We find, in particular, that loans issued by nonbanks are more likely to prepay early than loans issued by banks, the difference not explainable by nonbank borrowers prepaying more rationally. Using regulatory filings from nonbanks that are typically unavailable to academic researchers, we examine the balance sheets and liquidity and capital positions of large Ginnie Mae nonbank servicers, which face and pose more risk in the current mortgage system. We find that on average these servicers have reasonable liquidity and capital positions relative to standard regulatory thresholds, particularly in 2022:Q1 after a few quarters of elevated profits. However, some large Ginnie Mae servicers appear to have inadequate capital, as gauged by risk-based capital measures. If defaults rise on a large scale, the liquidity and capital positions of these servicers may amplify the disruption in the mortgage and housing markets.

The Role and Authority of a Notary/Official Land Deed Maker in Electronic Mortgage Registration at the Cirebon Regency Land Office

Currently, the government has attempted to issue an emergency policy in order to boost the wheels of the economy in Indonesia and keep governance running, one of which is by providing public services online. in this case ATR/BPN performs public services regarding the registration of Mortgage Rights online.This study aims to determine and analyze the role and authority of a Notary as well as a Land Deed Maker in carrying out the process of electronically registering Mortgage Rights at the Cirebon Regency Land Office, to find out and analyze the legal consequences of Electronic Mortgage Registration by a Notary as well as an Official Land Deed Maker in the Office Cirebon Regency Land Affairs, and to find out and analyze the obstacles and solutions faced by Notaries as well as Land Deed Making Officials in carrying out electronic Mortgage Registration at the Cirebon Regency Land Office. The research approach method used in this thesis is an empirical juridical legal research method. This research specification uses descriptive analysis. Research data collection with interview techniques and study of documents or library materials. The data analysis method used in analyzing the data is interactive qualitative analysis. The results of the study show that: First, Granting of Mortgage is carried out by signing the Deed of Granting Mortgage by a Notary/Official for Making Land Deeds electronically. Second, the registration of Mortgage carried out by all Notaries/PPATs must go through the Electronic Mortgage system and the Electronically Integrated Mortgage Service is carried out entirely through the online system, without any direct interaction between the Electronic Mortgage Service User and the Electronic Mortgage Service Executor. Third, there are still obstacles in the implementation of the Electronic Mortgage Registration System.

KEPASTIAN HUKUM PENDAFTARAN HAK TANGGUNGAN BERDASARKAN PERATURAN MENTERI AGRARIA DAN TATA RUANG/KEPALA BADAN PERTANAHAN NASIONAL 5 TAHUN 2020 TENTANG PELAYANAN HAK TANGGGUNGAN TERINTEGRASI SECARA ELEKTRONIK

Mortgage registration is a procedure and requirement that must be passed by the registrant until it is realized by the issuance of a mortgage certificate. The problem of this research is how is the legal certainty of electronic mortgage registration based on the Regulation of the Minister of Agrarian Affairs and Spatial Planning/Head of the National Land Agency Number 5 of 2020 concerning Electronically Integrated Mortgage Services. Electronically Integrated Mortgage Services called the HT-El System is a service process mortgage rights in the context of maintaining land registration data organized through an integrated electronic system. The legal certainty of Electronic Mortgage registration based on the Regulation of the Minister of Agrarian and Spatial Planning / Head of the National Land Agency Number 5 of 2020 concerning Electronic Integrated Mortgage Services guarantees legal certainty for both Mortgage Providers, Mortgage Recipients and third parties. The implementation follows the rules in the implementation of electronic mortgage registration in accordance with the provisions of Article 10 regarding the role of land certificate making officials (PPAT) in the electronic mortgage registration process, for the sake of the integrity and authenticity of electronic documents, the mortgage certificate issued by the electronic mortgage system is marked electronic hand used as a means of verification and authentication. Of course, legal certainty is guaranteed for all parties, both the official for making land deeds (PPAT), and the Agrarian and Spatial Planning Office/National Land Agency.