The expert named the principles of mortgage micro-credit companies

In early October, the Bank of Russia announced that new players would enter the financial market — mortgage microcredit companies. Executive Director of the financial marketplace "I will choose.On October 21, Yaroslav Badzhurak told Izvestia how such organizations will work and why there will be no high mortgage interest rates from the MCC typical for MFIs.

"Mortgage micro—credit companies will start operating at the end of this month - the law on them will enter into force on October 22. One of the main differences between mortgage MCCS and banks is that such organizations will serve borrowers only under government programs and exclusively within the same region," he said.

There is no more than one company per region. From this follows the answer to the question of why such forms of financial organizations are created at all. They are expected to operate in regions where banks are poorly represented. The banking players of the mortgage market are reluctant to come to sparsely populated cities. The cost of housing there is lower, the credit burden of borrowers (due to low incomes) is higher, therefore, it is more difficult to earn on mortgage loans.

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At the beginning of last year, special funds included in the Dom Bank's register were engaged in issuing mortgage loans under government programs in the regions.Russian Federation", however, by May of the same year, all of them were excluded from the register. The reason is that they were not regulated by the Bank of Russia. According to Anatoly Aksakov, head of the Financial Market Committee, abuse and fraud were observed in these organizations. Mortgage microfinance institutions, on the contrary, will be regulated by the Central Bank, which means that the risk of unfair practices is lower.

Not everyone can get a mortgage through a micro-credit company. Mortgage MCCS will issue loans only under government support programs. Issuing mortgages at market rates will not be within their competence. At the same time, the borrower will not see any differences between a loan from a micro-credit company and a loan from a bank. No daily interest accrual, typical for MFIs. The rate will be calculated for a year, payments will need to be made once a month.

"The question remains — how will micro-credit companies make money, since such a business model is not typical for them? There will probably be no need for mortgage MCCS to make a profit. Such companies will be 100% owned by the federal subject in which they operate. From micro-credit companies, they will only have a name and a legal form. And ordinary micro—credit companies will not enter the mortgage lending market," concluded Badjurak.

Earlier, on September 15, experts from Domclick and Sberindex analyzed the dynamics of mortgage transactions and concluded that the growth rate of housing prices in the current month continues to decline both in new buildings and in the secondary market.

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