HMLA trying to warm up the mortgage

HMLA finished accepting applications for participation in the third program to repurchasemortgage bonds. Demand from bidders only slightly exceeded the supply agency. At the same time, the average bank noted that the program AHML — a convenient opportunity to secure funding long mortgages.

The volume of applications for participation in the third program AHML to repurchase mortgage-backed bonds amounted to 20.95 billion rubles. with a limit of 20 billion rubles. The second program, banks and other market participants have requested transaction volume of 51 billion rubles., In the first program — 39.31 billion rubles. With an equal volume of deals in all three programs in the last tender banks is much less interested in the opportunity to sell their mortgage-backed bonds to the state: six applications were filed, while the second program — 15 in the first — 14.

Recently, HMLA announced that in the first and second program agreement was signed by 30 billion rubles. Shortfall of 10 billion rubles. explained by the fact that some of the successful bidder did not become the latest deals, or not paid on time option for participation in the program. The closing date for transactions on the first program expires this year, according to the second program — at the end of next year.

The third program, the collection of applications for which only ended May 31, will be implemented from April 1, 2013 to December 27, 2013. Since the volume of applications only 950 million rubles. exceeded the limit of AHML, the agency can increase the size of the program, since it is less than 10% of the planned figures. The press service of HMLA RBC daily reported that the volume of the solution has not yet been adopted.
It is possible that the sharp decline in banks' interest in the program is associated with lowrates of the Agency. «VTB24 does not participate in the tender HMLA due to the fact that the proposed terms of the transaction does not look economically attractive for the bank», — said Vice President George Ter-VTB24 Aristokesyants. VTB24, which has traditionally been a leader in terms of securitization, this year plans to release a paper with a coating on the part of the portfolio, purchased from the bank «KIT Finance» (33 billion rubles.).

At the same time, some banks have noted that state support of HMLA is an additional incentive for the development of housing loans. "The program allows you to civilized conduct mortgage business, renewing liquidity on an ongoing basis through the issuance of securities. Typically, banks do not have the ability to keep the balance of thirty-year loans, "- said Deputy Chairman Svetlana Investtradebank Kroshkina. HMLA provides banks with additional assurance that the securities will be realized, deputy chairman of the bank agrees to 'Rebirth', Alexander Dolgopolov. "In that year we held a successful securitization of themselves, but now the markets are a bit worse, so we decided to err, — says Mr. Dolgopolov. — Initially, the bank planned to issue securities for the year, but the decision to sell the bonds AHML we have postponed their own securitization until next year. "