The book is devoted to a comprehensive comprehensive study of mortgage housing loans and provides a deep analysis of economic fundamentals, as well as the legal norms governing these relations, theoretical and factual materials related to housing mortgages. In detail considering the world systems of mortgage fha home loans, the author analyzes the practice of regulating the issues under study, shows their historical roots, determines the prospects for development. Special attention is paid to a comparative review of the legislation of Russia, the United States, Germany, other countries of Europe, America and Asia, as well as the evolving legislation of the United Europe. An analysis of foreign legislation makes it possible to talk about the prospects for using a progressive element of foreign experience in Russian conditions. As a result, the author worked out a set of recommendations on the normative consolidation and practical implementation of mortgage lending in Russia. The findings of the work can be used to improve the current legislation, in law enforcement, as well as other legal implementation activities, in the process of teaching civil law, as well as economic disciplines. For scientific and practical workers, post-graduate students and students of law and economic universities and faculties. as well as economic disciplines. For scientific and practical workers, post-graduate students and students of law and economic universities and faculties. as well as economic disciplines. For scientific and practical workers, post-graduate students and students of law and economic universities and faculties.
Table of contents
Mortgage fha home loans in the US is the main source of finance for housing. Successful development of the mortgage allowed to significantly develop the housing market. This has led to the fact that the US housing stock has grown considerably younger over several decades. The average age of dwellings in the US is 23 years. The oldest buildings have an average of 43 years /2.88 /.
Americans are an exceptionally mobile nation. According to data for 1990, about half of citizens have never lived in one place for more than 10 years, and a fifth of them – only 15 months. Therefore, mobile housing in the US 7% of the total housing stock.
On average, there are 62 square meters per American. m of the useful area of the house. Necessary amenities are not only in 1% of homes, and the phone – in 5%.
shows a diagram of the change in the number of newly built houses and the number of transactions in the secondary market of the United States.
An essential moment for understanding the American mortgage system is the historical pattern in its development. Therefore, in this paper, the facts from the history of the American system of mortgage housing loans are described in sufficient detail.
Fig. 3.2. Change in the average cost of new fha home loans and the value of transactions in the secondary market (according to the Mortgage Banker’s Association of America)
In 1932, the US government created the Federal Council of Banks on the issues of home loans (FHLBS), which, according to the government, would serve as a kind of national bank in providing housing. The goal set for FHLBS was to act as a lending center, assisting depository institutions (primarily trifts and co-operative banks) in the direction of cash on the national fha home loans market of the United States. By the law of June 13, 1933, the right of direct lending to banks included in the FHLBS was terminated.
In accordance with this law, the Federal Corporation for Insurance of Accounts in Saving and Savings Associations (Federal Saving’s & Loans Assurance Corporation – FSLIC) was established. The purpose of its creation is to encourage investors to place their savings in financial institutions – savings and loan associations (trifts).