Russia is seeking to attract buyers to its 4.5 trillion ruble mortgage market to drive down borrowing costs and increase competition
Thu, Apr 20, 2017 - 5:50 AM
"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.
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