The Mongolian Mortgage Corporation (MIK), under the special license from the Financial Regulatory Commission, has bundled and purchased mortgage loans issued by banks, issuing a 346 billion MNT mortgage-backed security (MBS) with a maturity of up to 30 years. In the 35th portfolio transferred to MIK, 39.87% of the 3,702 household mortgages included are from households that moved from ger districts to apartments, 50.5% are from rural areas, and 37.89% belong to individuals aged 20-33. This reflects the contribution of the subsidized housing mortgage loan program, implemented since 2013, to supporting young families and reducing air and soil pollution.
Banks notified their customers about the transfer of their mortgage to MIK via messages, updates to loan account details, and transaction descriptions.
As a result, in 2024, we have issued mortgage-backed securities for 113,226 households, totaling 6.7 trillion MNT, securing mortgage terms of up to 30 years.
The Mongolian Mortgage Corporation (MIK), under the special license from the Financial Regulatory Commission, has bundled and purchased mortgage loans issued by banks, issuing a 346 billion MNT mortgage-backed security (MBS) with a maturity of up to 30 years. In the 35th portfolio transferred to MIK, 39.87% of the 3,702 household mortgages included are from households that moved from ger districts to apartments, 50.5% are from rural areas, and 37.89% belong to individuals aged 20-33. This reflects the contribution of the subsidized housing mortgage loan program, implemented since 2013, to supporting young families and reducing air and soil pollution.
Banks notified their customers about the transfer of their mortgage to MIK via messages, updates to loan account details, and transaction descriptions.
As a result, in 2024, we have issued mortgage-backed securities for 113,226 households, totaling 6.7 trillion MNT, securing mortgage terms of up to 30 years.
