The subject of a mortgage cannot be. Mortgage credit lending

Property that can be subject to mortgage is defined in Article 5 of the Mortgage Law - immovable things specified in Article 130 of the Civil Code of the Russian Federation, the rights to which are registered in the manner established for state registration of rights to real estate and deals with it.

These things include: land, with the exception of land plots specified in Article 63 of the Mortgage Law; enterprises, as well as buildings, structures and other real estate used in entrepreneurial activity; residential buildings, apartments and parts of residential buildings and apartments, consisting of one or more isolated rooms; dachas, garden houses, garages and other consumer buildings; air and sea ​​vessels, inland navigation vessels and space objects.

82) Procedure for levying execution on pledged property. The procedure for foreclosing the pledged property and its sale.

The basis for foreclosure on the pledged property is the improper performance or non-performance of obligations by the Pledgor under the obligations for which he is responsible. Claims of the Pledgee (creditor) are satisfied from the value of the pledged immovable property by a court decision. Without applying to the court, satisfaction of the Pledgee's claims at the expense of the pledged real estate is allowed on the basis of a notarized agreement between the Pledgee and the Pledgor, concluded after the grounds for foreclosure on the pledged property arise. It should be borne in mind that such an agreement may be declared invalid by the court at the suit of a person whose rights are violated by such an agreement. Foreclosure on the subject of pledge may be levied only upon a court decision in the following cases: - the consent or permission of another person or body was required for the conclusion of the pledge agreement, - the subject of pledge is property of significant historical, artistic or cultural value for society, - the pledgor is absent and its location cannot be determined. If the subject of pledge is movable property, and the pledge agreement provides for foreclosure on it out of court, then after making a decision to foreclose on the pledged property, one should proceed in the manner prescribed by the agreement, taking into account the current legislation of the Russian Federation. Assume that the implementation of the pledged property should be made by a bailiff (CPC RF). To do this, an application is submitted to the people's court to initiate enforcement proceedings. Only if the people's court refuses, you should independently sell the pledged property through public auction. Foreclosure on pledged movable property can be made without going to court on the basis of an agreement. At the same time, foreclosure on the subject of pledge transferred to the Pledgee (mortgage) may be levied in accordance with the procedure established by the pledge agreement. If, despite the terms of the pledge agreement, it is impossible to foreclose on the subject of pledge outside judicial order and / or the subsequent sale of the subject of pledge (including when the debtor or the Pledgor do not operate and their location is unknown), if the debtor and the Pledgor dispute the actions of the Pledgee, for any reason evade the actions stipulated by the agreement, if the agreement does not provide for an out-of-court recovery procedure then you should sue. When suing statement of claim it is necessary that it clearly formulates three requirements: - on the recovery from the debtor of the debt under the loan agreement, including the principal amount of the debt, the amount of interest, penalties, - on the foreclosure on the subject of pledge and the sale of the pledged property, - on the reimbursement of the plaintiff's expenses for the state duty . When filing a statement of claim, a petition for seizure of the subject of bail is simultaneously filed. Execution of decisions of courts, arbitration and arbitration courts, levying execution on execution inscriptions of notaries is carried out by bailiffs who are at the court at the place of residence or place of work of the debtor or at the location of his property. The bailiff proceeds to enforcement at the request of the recoverer. Foreclosure on property consists of its arrest (inventory), seizure and forced sale. Realization (sale) of the pledged property is carried out by sale at public auction. Public auctions are held in the form of a competition or auction on the basis of existing contracts with a specialized company. The person who offered the highest price is recognized as the winner of the auction at the auction, and the person who, according to the conclusion of the tender commission, offered the best conditions at the tender, is recognized as the winner. The auction and tender, in which only one participant participated, are recognized as failed. Any person can participate in an open auction and an open tender. Only specially invited persons participate in a closed auction and a closed tender. The notice of the auction must be published at least 30 days before the auction. The notice must contain information about the time, place and form of the auction, its subject and procedure, including the procedure for registering participation in the auction, determining the person who won bidding, as well as information about the starting price. Unless otherwise provided in the notice of the auction, the organizer of the open auction that made the notice has the right to refuse to hold the auction at any time, but no later than three days before the date of its holding, and the tender - no later than 30 days before the competition. In cases where the organizer of open auctions refused to hold them in violation of the specified deadlines, he is obliged to compensate the participants for the actual damage suffered by him. Persons wishing to take part in public auctions make a deposit in the amount, terms and manner specified in the notice. If the auction did not take place, the deposit is refundable. The deposit is also returned to persons who participated in the auction, but did not win (deposit -10% of the initial price). When concluding an agreement with the person who won the auction, the amount of the deposit paid is counted towards the fulfillment of obligations under the concluded agreement. The initial sale price of the pledged property, from which the auction begins, is determined by a court decision, or by agreement between the Pledgor and the Pledgor. When an auction is declared invalid, the Pledgee shall have the right, by agreement with the Pledgor, to acquire the pledged property and offset its claims against the purchase price. When declaring repeated auctions failed, the Pledgee has the right to keep the subject of pledge for himself with an assessment of it in the amount of not more than 10% lower than the initial one. selling price in re-bidding. If the Pledgee does not use the right to retain the subject of pledge within a month from the date of the announcement of repeated auctions as failed, the pledge agreement shall be terminated. The Debtor and the Pledgor, being a third party, shall have the right at any time prior to the sale of the subject of pledge to terminate the levy of execution on it and its sale, having fulfilled the obligation secured by the pledge or that part, the fulfillment of which is overdue. From the amount received from the sale of the pledged property, the costs of execution are first covered, the rest of the amount goes to satisfy the claims of the claimants. The amount remaining after the satisfaction of all claims is returned to the debtor. At the expense of the pledged property, the Pledgee Bank has the right to satisfy its claims in full, determined by the time of actual satisfaction, including interest, penalty, losses caused by delay in performance, as well as the necessary costs of maintaining the pledged property and the costs of implementing the secured claim. If several things are the subject of pledge, the Pledgee may, at his choice, receive satisfaction from all this property or at the expense of any of the things. If the pledged property is sold, encumbered with the rights of several Pledgees, then the distribution of the proceeds from the sale of such property is made taking into account the order of the pledge agreements concluded. Claims of the subsequent Pledgee shall be satisfied from the value of the subject of pledge after satisfaction of the claims of the previous Pledgee. If the amount recovered from the debtor is insufficient to satisfy all claims under executive documents this amount is distributed among the claimants in the order of priority. The claims of each subsequent turn are satisfied after the full repayment of the claims of the previous turn. If the amount collected is insufficient to fully satisfy the claims of one turn, these claims are satisfied in proportion to the amount due to each claimant. First of all, claims for the recovery of alimony, compensation for harm caused to health, as well as compensation for harm caused to persons who have suffered damage as a result of the death of the breadwinner are satisfied. In the second place, the claims of employees arising from labor relations, the payment of remuneration to authors, In the third place - contributions to the Pension Fund, social insurance and the employment fund, In the fourth place - claims for payments to the budgets of all levels and state non-budgetary funds, In the fifth place, are satisfied all other requirements. The bank may also sell the pledged property bypassing public auctions; 1. When the insolvent Pledgor agrees to cede to the creditor bank the subject of pledge or other property of interest to the bank. 2. The Civil Code of the Russian Federation allows the creditor bank to replace loan agreement on the contract of sale of the subject of pledge. The debtor settles accounts with the bank by concluding a contract of sale of the subject of pledge. Satisfaction of the requirements of the Bank-Creditor can be made not only by the debtor, but also third party.In this case, the third party, along with the right to claim, is transferred to the security that secures his right. If the debtor does not fulfill the obligation to repay the loan to the new creditor, the latter has the right to foreclose on the subject of the pledge. Assignment of claims must be made in writing. The creditor bank that has assigned the claim to another person is obliged to transfer to him the documents certifying the right to claim; loan agreement, documents that ensure the execution of the loan agreement, a document confirming the payment for the debtor of the debt to the first creditor. The debtor must be notified of the assignment of the claim that has taken place. If this condition has not been met, then the performance of the obligation to the original creditor is recognized as performance to the proper creditor. In order to accelerate the repayment of debt under a loan agreement as a person to whom claim rights, an organization not burdened with overdue obligations may act. If a third party agrees to repay the debt of the Borrower, a debt transfer agreement may be concluded. In this case, the new debtor should not have any debt. The transfer of debt is made with the consent of the Creditor Bank. If the debtor enterprise is a debtor, the Bank and a third party (the buyer of the pledged property) conclude a suretyship agreement to secure the borrower's obligations under the loan agreement. The Buyer fulfills its obligations under the guarantee agreement as a guarantor, after which the bank's rights under the Credit Agreement and the bank's rights as the Pledgee under the pledge agreement pass to it. The borrower and the buyer (guarantor) enter into a settlement agreement. Thus, the bank receives funds, and the guarantor receives the desired property. The Civil Code allows the termination of obligations also in the following cases: set-off of claims, novation, debt forgiveness. Forgiveness of a debt, as a release from a property obligation in relation to oneself, is a kind of relationship arising from a gift. The gift of property, the value of which exceeds five minimum wages, is prohibited between commercial organizations. Such a transaction is void. When offsetting claims, mutual obligations are repaid only if they are the same size. Otherwise, only partial repayment offset, the unrecovered amount remains a debt that will have to be repaid in the future.

The legislation provides for certain requirements for the content of the mortgage agreement. According to Art. 9 of Federal Law No. 102-FZ of July 16, 1998 "On Mortgage", the document must indicate the subject of the mortgage, its assessment, the nature, size and deadline for fulfilling the obligation secured by the mortgage. The agreement may also provide for the possibility of foreclosing the pledged property out of court, specifying the conditions and procedure for its implementation when foreclosing the pledged property by a court decision.

The subject of pledge is defined in the agreement as follows: its name, location and a description sufficient for its identification. In addition, the document must indicate the right (property, lease, etc.), by virtue of which the property that is the subject of mortgage belongs to the pledgor, and the state registration authority that registered this right.

The estimated value of the collateral is determined by the parties to the agreement and is indicated in the document in monetary terms.

An obligation secured by a mortgage must be named in the contract, indicating its amount, the grounds for its occurrence and the deadline for fulfillment. If such an obligation is to be fulfilled in installments, then the terms (periodicity) of the relevant payments and their amounts, or conditions that allow determining these amounts, must be indicated in the agreement. That is, the agreement must contain information about who the lender and borrower are, the amount and term of the loan, the interest rate, the amount of monthly payments and the procedure for repaying the loan.

The mortgage agreement is concluded in writing and is subject to state registration. The Agreement comes into force from the moment of its registration. If the rights of the pledgee are certified by a mortgage, then this must be reflected in the document, otherwise it will not be registered.

The borrower has the right to use the subject of pledge during the entire term of the agreement. At the same time, he cannot, without the prior written consent of the bank, transfer the pledged property to a subsequent mortgage, encumber the subject of pledge with the property rights of third parties, register any persons (except those specified in the agreement) at its location address, rent it out, or otherwise encumber subject of mortgage. Reorganization and redevelopment are also carried out after obtaining such consent from the creditor.

The pledgor is obliged to take measures necessary to preserve the pledged property and maintain it in proper condition; timely pay taxes, fees, utility and other payments related to the use of the subject of mortgage; ensure, at the first request of the creditor, unimpeded access of bank representatives to the subject of pledge, etc.

The lender has the right, according to documents and in fact, to check the availability, layout, safety and quality of the subject of mortgage, demand early performance of the obligation secured by the mortgage or levy execution on the subject of pledge in cases provided for by the mortgage agreement and established by the legislation of the Russian Federation.

The mortgagee is obliged to notify the borrower of the transfer of rights under the mortgage, indicating the date of transfer of rights and the person to whom they are transferred.

After the borrower fulfills all obligations under the mortgage agreement, both parties to the agreement submit to the body that carries out state registration of rights to real estate and transactions with it, an application for removal of the mortgage encumbrance from the subject of pledge, i.e., the mortgage registration record is extinguished. In this case, the deposit will be cancelled.

With the beginning of Russia's transition to digital mortgages and the introduction of electronic mortgages, it is expected that in the near future mortgage agreements will be concluded online using smart contracts.

Bank mortgage conditions

Getting a mortgage today good decision for many in case an apartment is needed urgently, but there is no money. But before you take it, you need to carefully study the conditions of the mortgage in banks. One of the most favorable conditions is in Sberbank. This credit organization provides mortgages under social program for certain groups of citizens. For example, for young families or the military. What are the conditions for a mortgage in Sberbank? If you do not belong to the above groups, then for a Sberbank mortgage, the conditions will be as follows: down payment - 15%, mortgage rate - 13%, mortgage loan term - up to 30 years. The conditions of the Young Family mortgage are more forgiving: the down payment is only 10%, repayment within a maximum of 30 years, interest rate- only 11.5%. "Military mortgage" also implies enough profitable terms: the interest rate is only 10.5%, the down payment, like that of the Young Family, is only 10%, the term is up to 20 years. You should also find out in advance on what conditions the bank is ready to provide citizens with a mortgage. The basic requirement is that the age of the borrower should not be less than 21 years old at the time of application and more than 60-65 years old at the end of payments. The length of service at the last place of work is also taken into account: it must be at least six months.

The term "mortgage" means:

1) pledge of immovable property owned by the pledgor (for example, land plots, buildings and structures) in order to obtain a mortgage loan;

2) receipt of funds from a credit institution for the acquisition of a real estate object (apartment) in the future. At the same time, the loan is targeted, which is significant in terms of legal regulation arising legal relations, and the specified property is pledged to a credit institution.

In both cases, there is a pledge of real estate (land plots, enterprises, buildings, structures, apartments, etc.) in order to obtain funds (loans, credits).

Thus, a mortgage (from the Greek hypotheke - pledge) is a type of pledge in which the pledged property (they are real estate objects, as a rule, this is land and buildings on it) remains in the possession of the mortgagor until the maturity date.

In the first case, this formal legal definition implies the following: you enter into a mortgage lending agreement with the bank of your choice, and on the basis of this agreement, he gives you the money you need to buy an apartment (or other real estate).

The second form of collateral for mortgage lending is when, under the same agreement, you pledge not a new, purchased apartment, but an old one that you already owned before concluding a loan agreement.

For the use of the issued loan, you pay the bank the interest specified in the loan agreement and return the borrowed funds in the form of monthly payments to the bank, also established by the loan agreement. Real estate (apartment) purchased on credit remains as a pledge (mortgage) with the bank until the loan is fully repaid, although formally you will be the owner of the housing.

However, in the event of a change in your financial situation, which, for example, will result in your inability to perform credit obligations, the bank will sell the apartment and return their money.

This right is provided for in Art. 334 of the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation), according to which the bank that issued the loan, as a creditor under a secured obligation, has the right, in case the debtor fails to fulfill this obligation, to receive satisfaction from the value of the pledged property preferentially over other creditors of this person. And in the cases and in the manner prescribed by laws, satisfaction of the creditor's claim on the obligation secured by the pledge (the pledgee) may be carried out even by transferring the subject of pledge to the ownership of the pledgee.

Since as a result of registration of a mortgage, new legal relations arise, it is necessary to pay attention to a number of legal issues. This must be done before signing the relevant agreement with the bank in order to know about all possible consequences one or another of their actions.

A pledge is a way to secure an obligation (along with a penalty, a surety, bank guarantee and a deposit, which are not discussed in this case), i.e. a mortgage as a collateral option can be established to secure the main obligation:

1) under a loan agreement;

2) under a loan agreement;

3) another obligation, including one based on the purchase and sale, lease, contract, other contract, infliction of harm, unless otherwise provided by federal law.

A separate issue is the subject of mortgages. The list of property that can be pledged under a mortgage agreement is limited by law. So, the immovable property specified in paragraph 1 of Art. 130 of the Civil Code of the Russian Federation, the rights to which are registered in the manner established for state registration of rights to real estate and transactions with it, including:

Buildings, including residential buildings and other structures, and structures directly connected to land, may be subject to mortgage subject to certain requirements. Mortgage of a building or structure (including residential ones) is allowed only with simultaneous mortgage under the same agreement of the land plot on which this building or structure is located, or of a part of the land plot that functionally provides the pledged object, or of the right to lease this plot or its corresponding part belonging to the pledgor . If the land plot on which the above items of pledge are located belongs to the pledgor on the right of permanent use of the land plot, the right of pledge does not apply to it. When levying execution on such objects, the person who acquires this property into ownership acquires the right to use the land plot on the same terms and to the same extent as the former owner (mortgagor) of the immovable property.

The mortgage of houses and apartments has a number of features.

Mortgage of individual and multi-apartment residential buildings and apartments that are in state or municipal ownership is not allowed.

Mortgage of a residential house or apartment owned by minor citizens, persons with limited or incapacitated legal capacity, over whom guardianship or guardianship has been established, is carried out in a separate manner, provided for by civil legislation. The alienation of a dwelling in which the family members of the owner of this dwelling under guardianship or guardianship or minor members of the owner's family left without parental care (of which the guardianship and guardianship body is aware) live, if the rights or legally protected interests of these persons are affected, is allowed with the consent of the guardianship and guardianship authority. Such consent may be given if the rights or legally protected interests of these persons are not affected.

The consent of the guardianship and guardianship authorities to the alienation and (or) mortgage of the residential premises in which these persons live, or a reasoned decision to refuse such consent must be submitted to the applicant in writing no later than 30 days after the date of filing the application with the request give such consent. Refusal to give consent may be challenged in court.

In the event of a mortgage of an apartment in an apartment building, parts of which, in accordance with paragraph 1 of Art. 290 of the Civil Code of the Russian Federation are in the common shared ownership of the pledgor and other persons, the corresponding share in the right of common ownership of the residential building is considered to be pledged along with the residential premises.

Unless otherwise provided by federal law or an agreement, a residential building or apartment acquired or built in whole or in part using credit funds from a bank or other credit organization or funds target loan, provided by another legal entity for the purchase or construction of a residential house or apartment, are considered to be pledged from the moment of state registration of the borrower's ownership of the residential house or apartment.

The pledgee under this pledge is a bank or other credit organization or a legal entity that has provided a loan or targeted loan for the purchase or construction of a residential house or apartment.

Unless otherwise provided by the agreement, the thing that is the subject of mortgage is considered to be pledged together with accessories (Article 135 of the Civil Code of the Russian Federation) as a whole. Part of the property, the division of which in kind is impossible without changing its purpose (an indivisible thing), cannot be the subject of a mortgage.

An example is a situation where it became necessary to obtain a mortgage loan secured by part of the premises, for example, one floor in a building, although the ownership of this property was registered as the object as a whole. In this case, a mortgage will be possible if the property is divided into parts and the rights to each of them are registered.

Because Art. 76 of the Federal Law "On Mortgage (Pledge of Real Estate)" allows the mortgage of residential buildings under construction, these rules are also applicable to the pledge of unfinished construction of real estate being built on a land plot in accordance with the requirements of the legislation of the Russian Federation.

A mortgage may be established on the property indicated earlier, provided that it belongs to the pledgor on the basis of ownership or economic management. As already mentioned, the rights to it must be registered in the manner established for state registration of rights to real estate and transactions with it, and this fact must be confirmed by relevant documents.

Mortgages are not allowed:

1) property withdrawn from circulation,

2) property, for which, in accordance with Art. 79 of the Federal Law of October 2, 2007 N 229-FZ "On enforcement proceedings"no penalty can be levied (it is specified in Article 446 of the Code of Civil Procedure of the Russian Federation);

3) property in respect of which mandatory privatization is provided or the privatization of which is prohibited. This rule is applicable to residential premises provided to citizens under contracts social recruitment after March 1, 2005, as well as those in disrepair, in dormitories, in the houses of closed military camps, as well as office accommodation, with the exception of housing stock state farms and other agricultural enterprises equated to them, and located in countryside housing stock of stationary institutions social protection population. These premises listed above cannot be privatized and therefore cannot be mortgaged.

The subject of a mortgage may be real estate specified in paragraph 1 of Article 130 of the Civil Code of the Russian Federation, the rights to which are registered in the manner established for state registration of rights to real estate. These are:

1) land plots, with the exception of land plots specified in Article 63 of this Federal Law, are not subject to mortgage land that is in state (federal and constituent entities of the Russian Federation) or municipal property, as well as land of agricultural organizations, peasant (farm) farms and field land plots personal subsidiary plots. In addition, land plots in part are not subject to mortgage if this part is smaller in area than minimum size a land plot of the corresponding purpose (such a minimum size is established by the regulatory legal acts of the Russian Federation and the constituent entities of the Russian Federation).

2) residential buildings, apartments and parts of residential buildings and apartments, consisting of one or more isolated rooms. Uninsulated living quarters cannot be mortgaged.

3) enterprises, as well as buildings, structures and other immovable property used in entrepreneurial activities. An enterprise is not a legal entity - a subject civil law(i.e., not a state or municipal unitary enterprise), but a property complex intended for entrepreneurial activity - an object of civil law (see also Article 132 of the Civil Code of the Russian Federation).

4) dachas, garden houses, garages and other consumer buildings. Under other buildings for consumer purposes in paragraphs. 4 paragraph 1 of the commented article should be understood as summer kitchens, makeshift houses, barns, stables for personal horses, etc.

5) aircraft and sea vessels, inland navigation vessels and space objects may serve as the subject of mortgage regardless of the flag and port of registry, but only if the corresponding transaction is made in the territory subject to the jurisdiction of the Russian Federation. Other may be provided by special legislation on such objects.

Buildings, including residential buildings and other structures, and structures directly connected with land, may be subject to mortgage, provided that the rules of Article 69 of the Federal Law "On Mortgage" are observed.

These rules apply to the pledge of unfinished construction real estate being built on a land plot allocated for construction in accordance with the procedure established by the legislation of the Russian Federation, including buildings and structures, subject to the rules of Article 69 of this federal law.

A part of property, the division of which in kind is impossible without changing its purpose (an indivisible thing), cannot be an independent subject of mortgage. A part of an indivisible thing cannot be an independent subject of mortgage. On indivisible things, see also Art. 133 of the Civil Code of the Russian Federation. Arbitrage practice, however, considers as indivisible things also various kinds of collections and services. Although a collection can be physically divided without damage to its constituent items, its artistic collection value will suffer significantly.

The thing that is the subject of a mortgage is considered to be pledged together with accessories (Article 135 of the Civil Code of the Russian Federation) as a whole, unless otherwise provided by the agreement.

Mortgage - pledge of real estate when obtaining a loan in credit institution which gives the creditor the right to preferential satisfaction of claims against the debtor for the amount of the pledged property.

Mortgage loan - a long-term loan issued by commercial or specialized banks, financial institutions secured by real estate. At the same time, one party - the pledgee, which is a creditor under an obligation secured by a mortgage, has the right to receive satisfaction of its monetary claims against the debtor under this obligation from the value of the pledged real estate of the other party - the pledger, preferentially over other creditors of the pledger.

The pledgor may be the debtor under an obligation secured by a mortgage, or a person not participating in this obligation (a third party).

The property on which a mortgage has been established shall remain with the pledgor in his possession and use.

Worldwide, mortgage lending is developing and functioning as a form of long-term financing for housing programs. Mortgage credit lending, on the one hand, contributes to the solution of a number of social and economic problems of the country, and, above all, the problem of housing, on the other hand, to reduce inflation, delaying temporarily free cash citizens and businesses.

Subject of mortgage

The subject of a mortgage may be the following property:

land plots in private ownership;

enterprises, as well as buildings, structures and other real estate;

residential buildings, apartments and parts of residential buildings and apartments, consisting of one or more isolated rooms;

summer cottages, garden houses, garages and other buildings for consumer purposes;

air and sea vessels, inland navigation vessels and space objects

Subjects of mortgage

The main subjects of the classical mortgage scheme are:

Borrower

lender (bank)

· Mortgage Agency

Investors

Borrower - a person who takes a loan secured by a residential or commercial real estate. To obtain a mortgage loan, you must have funds in the amount of at least 20-30 percent of the value of the property and have income that allows you to pay the principal and interest on it in equal monthly payments throughout the entire period.

Lender (bank) - an organization that, after analyzing the borrower's creditworthiness, concludes a loan agreement with him and keeps records of his debts. Necessary condition issuance of a mortgage loan is the contribution of the borrower down payment. The borrower's obligations may be in the form of a registered security - a mortgage, the rights to which the bank has the right to assign.

Mortgage agency - is the main element of the self-financing system of mortgage lending. The agency buys mortgages from banks and issues mortgage-backed securities. Proceeds from the sale valuable papers go to the issuance of new loans, thus creating a system of refinancing mortgage loans. The tasks of the agency include redemption from creditors of mortgages or claims on mortgage loans, formation of primary mortgage assets, issue and placement of mortgage-backed securities in financial markets.

Equity mortgage-backed securities are secured by specially formed pools of mortgages or mortgage loans.

Investors are buyers of mortgage-backed securities. These are mainly institutional investors such as equity and pension funds, insurance companies, banks, portfolio managers. Considering that the rating of mortgage-backed securities is close to the rating of sovereign debt, it can be assumed that this type of financial instrument will become popular among Russian and Western investors.

The secondary subjects of the classical mortgage scheme are:

· Real estate company;

· Evaluating company;

· Insurance Company;

· State registrar;

· Notary;

· Passport services;

· Agencies of guardianship and guardianship.

A real estate company is a professional intermediary in the real estate market, providing services for finding objects, drawing up contracts and preparing a package of documents necessary for submission to the bank.

An appraisal company is necessary to determine the market and liquidation value of real estate objects that are the subject of collateral.

Insurance company - performs the functions of reducing risks for investors and creditors by implementing the following types insurance:

insurance of the risk of damage and destruction of the object

Insurance against the risk of loss of ownership of the subject of mortgage

Insurance of the risk of loss of life and disability of the borrower

The cost of annual insurance is borne by the borrower.

State registrar - a body for state registration of rights to real estate and transactions with it. Its functions include registration of purchase and sale transactions, registration of the transfer of ownership, registration of mortgage agreements.

Notary - according to Russian legislation the contract of pledge of property rights to real estate and the contract of sale require notarization.

Passport services - register citizens at the place of residence.

Guardianship and trusteeship bodies - ensure the protection of the rights of minors when concluding real estate transactions.