OREANDA-NEWS. July 23, 2012. Sviaz-Bank has been named the Mortgages Service Agent (MSA) for Agency for Housing Mortgage Lending (AHML), OJSC. From now on, borrowers whose mortgages are deposited with the AHML can repay debts under their mortgages to the Agency’s settlement account opened with Sviaz-Bank, reported the press-centre of Sviaz-Bank.  

By entering into an agreement with the Agency, Sviaz-Bank has become the AHML’s third partner accepting the mortgagers’ debts repayment amounts and transferring them to the Agency. Payments are accepted at Sviaz-Bank’s main and backup offices in more than 50 regions in Russia.

For debt funds to be transferred to AHML OJSC, the payers are to give their mortgage numbers from the Agency’s roster in their payment orders.

The Mortgages Service Agent (MSA) is a bank with which AHML has an open account to be credited with payments the mortgagers make to fulfill their obligations under their mortgages. The Bank keeps daily records to draw up a list of payments credited to AHML’s account and makes their preliminary analysis. The two other MSAs are Vozrozhdeniye Bank and MDM Bank.
Agency for Housing Mortgage Lending, Open Joint-Stock Company (Agency, AHML) was instituted by the Russian Government’s decision in 1997. The Federal Agency for State Property Management representing the government holds 100% of the AHML shares. Making mortgages more affordable and improving the mortgagers’ living conditions are the Agency’s principal goals.

AHML’s basic activities include maintaining liquidity of Russian commercial banks issuing mortgages to the public by buying up the mortgage lien upon funds raised by selling securities on the Russian stock market. Developing new mortgage products and introducing novel mechanisms and services to make mortgage a more affordable instrument is still the Agency’s priority.