According to the Russian legislation, a Russian Mortgage Certificate () is a security that verifies its holderâÂÂs right to real estate pledged as a security for a mortgage loan. As nearly elsewhere, Russian Mortgage Certificates are often used as underlying asset and collateral for securities issued and sold to investors in the course of securitisation. The above-mentioned securities are often called RMBS - Residential Mortgage Backed Securities. Any interested buyers or investors can:
The appropriate Russian law N 102 äÃÂÃÂÃÂàÃÂÃÂìÃÂëàÃÂÃÂÃÂÃÂàÃÂàÃÂÃÂÃÂâÃÂÃÂàcalled Federal Mortgage Law was passed on 16.07.1998. This law regulates mortgage lending issues including definition and mandatory parameters of Russian Mortgage Certificate.
It is possible to download http://www.ahml.ru/standard/stdocs.shtml?path=stdocs060214-3.html the more or less standardized template from the site of the Russian State Agency carrying functions similar to those of Fannie Mae, Freddie Mac or Ginnie Mae in USA.