PRESS: Finance Ministry finds way to reduce mortgage rates

MOSCOW, Jan 21 (PRIME) -- Russia’s Finance Ministry will soon prepare a bill to allow national housing development institution DOM.RF to get access to the borrowers’ credit records for securitization of the loan portfolio, which can reduce mortgage rates, Izvestiya business daily reported on Friday.

“The sole development institution in the sphere of housing property (DOM.RF) will be granted an access to credit records of the borrowers for securitization of the loan portfolio. The Finance Ministry is to design a corresponding bill, according to the government’s legislation plan,” the newspaper said.

The bill can be sent for consideration of the State Duma, parliament’s lower house, in February 2023.

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