The Municipal Mortgage Bank plans to effect anothermortgage portfolio security deal for at least $100 million in the first quarter of 2007. Another deal for R1.5-R2.0 billion worth of rouble mortgage portfolio security is also in the making. Bank managers deem it possible that the two deals can be combined. The bank currently offers mortgages on average for a monthly $20m and wants to raise this figure to $25m-$30m by the year-end. At the moment rouble mortgages account for about 25% of the bank’s portfolio.
Source: BANKI.RU, August 15, 2006
