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MBA to assist development of Russian mortgage market mortgagepress.comaffordable housing market, international, Russian housing
The Mortgage Bankers Association (MBA) and the National Mortgage
Association (NMA) have signed a memorandum of cooperation (MOC) to
help foster development of an affordable housing market in the
Russian Federation. NMA is a Russian organization dedicated to
developing common principles of the mortgage market's activities
and coordinating those activities.
As part of the MOC, the MBA and NMA will: provide guidance on
developing standards for mortgage financing and implementing
mortgage programs and projects in Russia; offer counsel on
successful legislative and regulatory systems that support a
healthy national mortgage system; explore jointly hosting
international conferences dedicated to housing finance and
construction; and plan for a delegation of American mortgage
experts to visit Russia and host a Russian delegation to the United
States.
The MOC was signed as part of a daylong summit on the Russian
banking system hosted by the U.S.-Russia Business Council, the
Association of Russian Banks and the Embassy of the Russian
Federation.
Headquartered in Washington, D.C., the Mortgage Bankers
Association is a national association representing the real estate
finance industry. For more information, call (202) 557-2700 or
visit www.mortgagebankers.org.
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