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Putin pins housing hopes on mortgage factory
Russia is seeking to attract buyers to its 4.5 trillion ruble mortgage market to drive down borrowing costs and increase competition
"You have to be an optimist in the mortgage business. Otherwise you wouldn't hand out a loan for 30 years." - Andrey Suchkov, head of securitisation at VTB Capital
Moscow
VLADIMIR Putin is taking a page from the US housing market to boost home ownership. Call it Russia's Fannie Mae.
The government last year set up a so-called mortgage factory to help lenders bundle home loans with state backing in a one-stop shop.
On Wednesday...
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