OREANDA-NEWS. November 21, 2012.  The AHML Supervisory Council met to review the AHML 9M 2012 business plan performance report and estimate its implementation by the year-end on 12 November 2012. The Supervisory Council also approved the AHML Corporate Secretary Provision as amended and gave a preliminarily approval of the base part of the AHML Housing Mortgage Lending Standards.

The AHML was proud to announce that the 9M 2012 mortgage deeds refinancing plan was 100% accomplished – 32,396 loans amounting to RUB 43.5bn with a purchase rate of 10.56–10.73% during 9M 2012 as compared to the market average weighted rate of 12.1% according to the Central Bank of Russia. The Stimulus programme and Mortgage-Backed Securities Purchase programme contracts amounted to RUB 48.6bn for the 9M 2012, exceeding the target by 20%.

The AHML Group’s 9M 2012 plan has been nearly 100% accomplished as well.

Furthermore, the Supervisory Council preliminarily approved the introduction of the base part of the AHML Housing Mortgage Lending Standards. The Agency drew up a new structure of standards, including the base, process, and instrumental parts. Each part is to be approved by the Agency’s certain regulatory body, such as the Supervisory Council, the Management Board, or the CEO. The functional separation makes it possible to better regulate the AHML’s Standards application and to introduce timely amendments if needed.

However, the general lending terms and loan profiles remain unaffected.