As oborotosposobnosti a security bond is passed through the execution of another transfer labels (only the follow- state registration of the transfer). Mortgage makes the transfer of rights in pending legal relationships. Its convenience is also in the fact that she may be pledged. Nevertheless, the market mortgages in Russia did not formed. Of particular interest to the participants of the stock market cause other instruments – mortgage bonds and mortgage participation certificates. Mortgage-backed bonds are one of the reliable tool attachments funds because they give their holders the right to obtain satisfaction from the value of mortgage collateral prior to other creditors – depositors, holders of promissory notes, savings and certificates of deposit.
Mortgage-backed bonds provide a fixed income, which the owner of the securities will receive no less than once a year. Execution by the Issuer of its obligations to repay the bonds and interest payments secured by a pledge of mortgage collateral. Issue mortgage-backed bonds are only lending institutions and mortgage agents. Mortgage Agent – a new participant in the securities market, which builds its exclusively on the acquisition of claims on loans secured by mortgages or mortgages that may be received by him under the contract of sale, exchange, assignment, a transaction on the alienation of the property, including those related to payment of the share capital mortgage agent of the property, and as a result of universal succession. Bank refinancing through the mechanism of issuance of mortgage bonds under bail bonds is as follows: commercial bank concludes with the legal and (or) physical persons credit agreements secured by real estate with registration of the mortgage, the mortgage agency produce a foreclosure from the bank by issuing bonds that are placed on the stock market, funds received from placing bonds on the stock market, returned to the lender, the state guarantees payments on the bonds.