Articles by Yelena Khutornykh

State Insurer Targets 10% Down Payment

The Mortgage Lending AgencyТs supervisory board has approved a plan to develop insurance for home loans, which will see a special subsidiary created in two months to help provide mortgages with 10 percent down payments by next summer.

Troika Clients Earn Big on Ruble Fall

As the ruble plummeted last fall, Troika DialogТs clients received an offer that was hard to refuse Ч an interest rate of up to 39 percent for letting the investment bank place their cash with French lender BNP Paribas.  

Bad Loans Selling for Half Last YearТs Price

Large banks are beginning their traditional summer debt sales, but they are finding that collection agencies are only offering to pay about half of what they did last year.

No New Mortgage Funds in '09 Budget

In January 2009, AIZhK bought from banks 1,980 mortgages for more than 2 billion rubles ($56 million), according to the agency's monthly report. The Agency for Mortgage Lending works in every region of the country and has capital of 74.4 billion rubles. As of February, the agency had a mortgage portfolio worth 110 billion rubles.

Delinquent Mortgages Advance

Overdue mortgages now account for 11.5 percent of those held by the state Agency for Mortgage Lending, and while the figure may not be representative of the situation throughout Russia, bankers say they are worried that borrowing may become more expensive.

Revving Mortgage Market Seen Stalling in '09

While the first half of 2008 saw record growth in mortgages, forecasts were shattered by dismal growth in the second.