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.