MONGOLIA TO CHAIR ASIAN SECONDARY MORTGAGE MARKET ASSOCIATION UNTIL 2019

Ulaanbaatar /MONTSAME/ Mongolia will chair Asian Secondary Mortgage Market Association until 2019. The decision was made during the 5th Asian Fixed Income Summit in Ulaanbaatar city on July 2. The Mongolian Mortgage Corporation held the summit in cooperation with the Ministry of Construction and Urban Planning, the Ministry of Finance and the Financial Regulatory Committee. The summit was taken part by housing policy makers from Japan, the Republic of Korea, Malaysia, Thailand, Philippines, Indonesia and Kazakhstan, representatives of housing finance companies, international banks and financial institutes. The delegates shared good practices on creating channel of constant funding and touched housing policy, funding solutions, role and participation of the secondary market as well as opportunities in Asian real estate market. The speechmakers stated that developing the secondary mortgage market is becoming the principle solution of affordable housing financing and emphasized that Mongolia has created best model of it. During the summit, the Mongolian Mortgage Corporation and HFC Company of Korea signed a memorandum of cooperation. The Corporations will share experiences on implementation of advanced strategy of housing finance and collaborate in conducting researches on the spot. B.Batchimeg