Basic types and forms of mortgage lending

Types of mortgage lending - a way of issuance and repayment of the loan in accordance with the principles of lending, defining the nature of the loan due to the process of movement of the circuit of the funds and the borrower.

In the pre-reform period, the domestic banking practices were developed two methods of lending:

-for the balance of inventory costs and production costs;

-in terms of turnover.

Differences in 2 forms of credit: in the pre-reform banking practice (in terms of turnover, on the balance of inventories and production costs) is to change the methods and technology assessment needs of businesses in the credits, and the design of the mechanism. Such differentiation lending practices on the basis of technical rather than economic performance meant orientation when lending to a single administrative approach, the use of which led to the fact that the provision of credit to various companies occurred regardless of the needs of society as a result of their activities. As a result, the growth of credit investments significantly outpaced the increase in the actual mass of commodities, without stimulating the process of society's needs for goods and services in accordance with their ever-changing structure. Consider each of the lending practices.

Loans on the balance: the movement of the loan (i.e the issuance and repayment of it) in accordance with changes in the value of the financed object. The loan is linked to the movement of the balance credited values, which could act as a variety of material goods (raw materials, basic and auxiliary materials, spare parts, products, etc.), work in progress, prepaid expenses, finished products, goods shipped. Growth stocks caused excessive demand for credit, and their reduction required repayment in the relevant part. Changes in balances was the result of the turnover of assets. As the lending of stocks and expenses occurred granting loans when they begin to decline in balances - the loan was repaid. With this method of lending were two periods: the period of issuance of the loan and the repayment period of the loan. In the case of credit for the balance loan carried a compensatory nature, refunded their own money invested in higher (above the norm) values ​​of stocks and costs.

The method of crediting the remainder lost its practical significance is still in a transition period, as during the first phase of banking reform 80-ies the objective was completed the transition from lending numerous, disparate objects close-up lending to credit facility for a single unified scheme, the only turnover.

Lending on turnover: the movement of the credit determined turnover of wealth, ie, their receipt and expenditure, the beginning and end of the circuit funds. There is credit payments in nature, as granting of loans are made directly on the making of payments and, more importantly, at the time of borrowing requirements. Repayment of the loan was carried out at the end of a complete circuit of the borrower in accordance with the implementation plan (turnover). With this method of lending and the provision of a new loan repayment of earlier loans could coincide in time, ie mixing could occur, overlaying each other periods lending (granting loans, the repayment of the loan).

Loans collection of objects: a transitional method of lending by lending numerous and disparate objects of lending to credit facility enlarged single unified scheme, the only turnover. At the same time lending turnover took the form of lending by the aggregate reserves and production costs (within a predetermined planned value), which have been translated almost all sectors of the economy (with some features for each).

At present, this method can be called lending turnover balance (back-residual) because it contains features of lending in terms of turnover and the remainder (issuing loans - both negotiable lending practices, ie by paying the settlement documents, the repayment of loan debt - as in the method of crediting on the balance).

In modern conditions in this order shall be credited government, industrial, transportation, construction, agricultural, trade and supply and marketing organization. It is interesting to note that the method of trial balance in pure form may not be long, because it is a transition, and there are contradictions between the two methods of credit, and is therefore in each case gets more features of one of the methods.

It should be noted that for new commercial structures, i.e. subjects of private ownership when granting loans to commercial banks to use other methods of credit, relying increasingly on foreign banking practices.

The international banking practice there:

- method of individual allocation of credit (loans granted to meet the specific needs of the target funds for a specific period). This method is basic for lending new clients who do not have yet established a credit history with the bank. Typically, this form of financing is an unconditional contract, ie, since the conclusion of the loan agreement on the bank imposes certain obligations on terms.

- method of opening a line of credit, ie, credit shall be given within a preset bank to the borrower's credit limit, which is used to them as required by the payment requirements of the payment documents for a specified period.

An open line of credit allows you to pay by credit any settlement-cash documents stipulated in the loan agreement concluded between the customer and the bank.

Feature line of credit as a form of finance is that it is not an unconditional contract for the Bank, and here is a simple loan contract is in accordance with st.819 CC RK consensual, ie, Finally, it has a duty entails the creditor to provide credit. Bank line of credit in the event may cancel the contract before the end of the term if, for example, the client's financial position will deteriorate, or will not be met other conditions of the contract. The borrower is also due to various reasons can not use the line of credit in whole or in part. Originally agreed value of the credit line can be adjusted by the bank in case of sudden changes in market conditions or due to legal restrictions.

During the term of the credit line the customer can at any time to get a loan without further negotiations with the bank and any decorations. However, the bank reserves the right to refuse to grant a loan to the client within the approved limit, if it determines the deterioration of the financial situation of the borrower. The credit line is opened, as a rule, a customer with a strong financial position and good reputation.

There are renewable and nonrenewable credit line. In the case of non-revolving line of credit after the issuance of the loan and its repayment of the relationship between the bank and the client end. When revolving line of credit (revolving) credit is granted and repaid within a specified debt limit automatically. The credit line may also be a target (the Framework), if it is opened by the bank to the client to pay for a number of deliveries of certain goods under a single contract, implemented within a year or other period.

Externally, the method of the revolving credit line is very similar to domestic lending by the total turnover of the object.

The method determines the form of credit, the type of loan account to be used for the issuance and repayment of the loan, depending on the client's needs and interests of the bank. In each case, the client can be opened:

Consider the features of each type of loan account.

Normal (simple) imprest accounts are used primarily in banking practice for the issuance of one-time loans. Repayment of these accounts is carried out within the agreed terms with the borrower on the basis of orders-term liabilities.

Enterprise can be opened once a few simple loan accounts, simultaneously uses multiple objects under the loan and, consequently, loans are granted for different conditions, at different times and under unequal interest. Such loans have separate accounting for the value of the bank control over the timely repayment of the borrower.

However, possible to use a simple loan account for the nature of the payment of the loan. In this issue of the loan is made periodically, as the need arises in borrowed funds to make payments. In this mode, use this account repayment of debt takes place on the basis of orders-term liabilities in the normal way from the account of the borrower.

Special loan account is opened, as a rule, the borrower was in constant demand for bank credit when credit is mediated by a large part of the payment transactions agribusiness. The specifics of the loan on this account is that the granting of loans each time not documented and is based on a statement of commitment, which is provided to the bank by the borrower.

At the opening of a special loan account loans issued as required by the payment of settlement documents, and their repayment is done by paying the direction proceeds directly to a special loan account, bypassing the settlement. Current account performs here the role of the support account, as it is done by a limited number of operations related primarily to the distribution of profits and payment of salaries. To do this periodically from the special account to the account of the client lists contained in the planned revenue share of intangible costs and benefits.

Customer in a bank can only be opened by a special loan for which issued loans many objects. But this does not exclude the possibility of opening it in parallel ordinary loan accounts if the bank deems necessary credits for the enterprise separately some operations.

By using a single cash-loan (active-passive) account, called open account in banking practice, there is top-notch credit solvency and creditworthy borrowers. This bill is the highest form of trust of the bank to the customer. In the debit of the account of the client are all payments related to its productive activities and the distribution of profits and revenues credited to the loan and any other receipts in favor of the company. The credit balance of the account indicates the presence of the company in circulation at the moment of its own funds and the debit balance - to prosecute trafficking bank loans for which interest is charged. The current account does not preclude the registration of the customer at the bank of other types of bank loans (mainly medium and long term), which are provided with a simple loan accounts and credited or credit the current account, or sent directly to the payment of suppliers' invoices. The basis for the opening of the current account is a contract with a client for open account credit, which fixed the size of the maximum debt on the loan, loan term, maximum length of having a debit balance on the current account, the interest rate for the use of the loan, the size of the back of the commission (as a percentage of amounts of turnover of debit and credit), and other conditions at the discretion of the bank and the client. Interest on the balance on the current account in favor of the bank significantly exceed the amount of interest charged to customers.

Classic evolved mechanisms of housing loans in the world for many decades. In some countries, they worked out a long time, while others (such as Malaysia) have been introduced from the outside and have developed rapidly in just a few years. Now on mortgage market and mortgage-backed securities account for a significant proportion of all the operations of financial institutions of the West. The best examples, which accepted to study, here are the United States, Germany, Malaysia and the same.

Based on Western "know-how" - a two-tier structure of the market, due to which the banks are accumulating in the securities market "long" trust money held for mortgages, and have the opportunity to give as "long" and soft housing loans. Primary level here - the credits themselves, and secondary - special mortgage-backed securities (bonds, mortgages), by which the replenishment takes place the creditor banks. Their counterparts in the modern Kazakh legislation are mortgage certificates.

A classic in this respect is considered the US experience. The huge market of mortgage lending in this country was originally developed under the strict auspices of the state. Institute of mortgages originated during the Great Depression of the twentieth century, with the advent of the Federal National Mortgage Association "Fannie Mae." Now this system is the largest financial institution in the secondary mortgage market in the world. For 2005 FM held in its portfolio mortgage loans worth more than $ 700 billion. Dollars. "Fannie Mae" - the most important player of the secondary market of housing loans. The purpose of this gigantic state commercial structures - the increase in liquidity of mortgage loans, and hence improve the distribution of external investment capital to finance the construction and purchase of housing. "Fannie Mae" is a direct refinancing of banks by buying their mortgages sheets during periods of shortage of long-term loan capital, and then selling them on the open market. Owners mortgages bought them become creditors of the bank, which conducts mortgage lending. Thus, the issue of mortgage bonds contributes to the completion of target resources of banks for mortgage lending. Actions "Fannie Mae" from the early years contributed to increase liquidity of mortgages mortgages and expand their market. Indirectly, it also eventually led to a significant reduction in price of credits to the emergence of a very "long" (40 years) programs and others, definitely enjoyable for the consumer to change. That is, in the middle of the last century in the United States with a mortgage was something that would really like it a potential client in Kazakhstan in the beginning of this century. And what we have, hopefully, in the end we will come.

The experience of the credit market of the United States says that although over time in the country mortgage bond market has developed tremendously and there are a host of specialized mortgage companies, the state has always been on the market, maintaining its stability. And along with the economy, government intervention in the free market process, and carried the traditional social function.

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