The commercial corner: Build your credibility by submitting applications correctly

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.