house.Russia securitizes VTB mortgage loans worth 1 trillion rubles

house.Russia and VTB have agreed to securitize 1 trillion rubles of VTB mortgage loans by the end of 2030. The companies will also work together on technology projects for the financial industry and the housing sector.

The companies will jointly develop the mortgage securitization market. The relevant memoranda were signed by the General Director of DOM.Vitaly Mutko of the Russian Federation and Andrey Kostin, President and Chairman of the VTB Management Board. Since 2017, the HOUSE.The Russian Federation has already placed 13 issues of securities worth 1.24 trillion rubles with VTB.

"Mortgage loan securitization is a historic flagship business house.The Russian Federation, which also increases the ability of banks to issue mortgage loans and increases the availability of housing for the population," said the General Director of DOM.Russian Federation Vitaly Mutko. He stressed that VTB is a strategic partner of the state-owned company in this market, and the parties agreed to double the volume of mortgage bonds placed. "An additional trillion securitizations will provide 25% of our strategic goal by 2030 and allow us to look ambitiously into the future," Mutko said.

According to Kostin, in order for mortgage bonds to become an effective tool for increasing the availability of housing loans for Russians, it is necessary to further develop a capacious, liquid, mature national securities market. "This is what our joint efforts with DOM are aimed at.The Russian Federation is making efforts," said the head of VTB.

Important points of cooperation are the HOUSE.Russia and VTB will focus on the development of import substitution initiatives in the financial sector, the implementation of the digital transformation strategy of state-owned companies, as well as joint projects in the field of big data. So, in October, the HOUSE.Russia and VTB have agreed to launch pilot projects of a data exchange for the Russian market. According to the plans of the parties, an industry data platform developed by DOM.The Russian Federation will become a supplier for the new digital platform, providing the exchange with high-quality arrays of real estate market information. VTB will provide financial and design expertise.

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