The peculiarities of the secondary mortgage market in the USA

• Main Author: E L Dankevich
• Format: Article
• Language: English
• Published: Peoples’ Friendship University of Russia (RUDN University) 2013-12-01
• Series: RUDN Journal of Economics
• Subjects: ипотечные ценные бумаги; ипотечные закладные; первичный ипотечный рынок; вторичный ипотечный рынок; оператор вторичного ипотечного рынка; федеральные ипотечные агентства
• Online Access: http://journals.rudn.ru/economics/article/view/12190

The article reveals the essence and defines the structure of the secondary mortgage market in the United States. The author examines the mechanisms of financing and peculiarities of functioning of development institutions in the US secondary mortgage market. Particular attention is paid to the peculiarities of functioning and types of mortgage-backed securities issued in the United States. Author identifies and systematizes the benefits of the functioning of the secondary mortgage market. The factors that contributed to such a large-scale growth of the primary and secondary mortgage markets in the United States are determined in the article. Also author analyzes qualitative and quantitative performance indicators of the U.S. secondary mortgage market and defines the role of the state in the development of the secondary mortgage market in the United States nowadays. The ultimate aim of the article is to determine the advantages and disadvantages of mortgage-backed securities, as well as to identify factors facilitating the return of private investors in the secondary mortgage market in the United States.