This is a proposal in the research report of the Research Centre, the Investment Bank and development of Vietnam (BIDV). The research group for that model the company re-for the national housing mortgage loans Malaysia's Cagamas is considered the secondary mortgage models are the most successful in the developing countries and can learn and apply in Vietnam market.
According to the website of Cagamas Berhad, the company founded in 1986 to promote the secondary housing market in Malaysia. Cagamas models are the World Bank regarded as success in building the necessary institutional liquidity for the secondary mortgage market. Cagamas issued debt to obtain capital and then used this capital to buy resale, support the debts mortgage home purchase loan for the Bank as well as for people buying a home (choice). The company is currently the second largest debt issuer after the Malaysian Government and we took 41% of the market share of the country's housing finance.
Condition of Vietnam, the author of BIDV research for that company can mobilize and use ODA loans, issuing Government-guaranteed bonds to obtain working capital loan, buy back home loans can have a duration of up to several dozen years from financial institutions on the primary mortgage market release of securities based on mortgage loans to housing (securitization of housing mortgage loans) and thus perform the function of a channel leads from the medium and long term equity capital to the mortgage market.
The company also helps solve the problem of bringing the supply of refinance home mortgage in long-term capital for real estate markets are lacking at present, development of long term financial market for housing, is the tool of the Government to support the groups struggling for housing.
This research group said that international experience showed that, in order to develop the market for mortgage loans, the countries established financial institutions of special housing make the refinance mortgage to increase liquidity and expand the market for mortgage loans beginner. If operational, corporate home loan mortgage in the country will reduce the difficulty for the real estate market.
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