of December 29, 2012 No. 281-FZ
About introduction of amendments to the Federal law "About Mortgage Securities"
Accepted by the State Duma on December 19, 2012
Approved by the Federation Council on December 26, 2012
Bring in the Federal Law of November 11, 2003 N 152-FZ "About mortgage securities" (The Russian Federation Code, 2003, N 46, Art. 4448; 2005, N 1, Art. 19; 2006, N 31, Art. 3440; 2010, N 11, Art. 1171) following changes:
Part 3 of Article 3 to state 1) in the following edition:
"3. At the time of placement or issue of mortgage securities the requirements provided with mortgage and pledged in providing other obligations cannot constitute mortgage covering. The structure of mortgage covering of bonds with mortgage covering, except for housing bonds with mortgage covering, can include the requirements provided with pledge of real estate which construction is not complete.
The requirements provided with the subsequent mortgage can constitute mortgage covering only provided that the main amount of debt according to the obligation provided with prior mortgage, and the main amount of debt according to the obligation provided with the subsequent mortgage in total do not exceed seventy percent of the market value (money value) of the real estate which is mortgage subject determined by the independent appraiser.
The share of the requirements provided with pledge of real estate which construction is not complete shall not exceed ten percent of the size of mortgage covering.";
2) in Article 8:
a) in part 1:
the paragraph third after words", including" to add with the words "attract loans and the loans for the purpose of acquisition of requirements for the credits (loans) provided with mortgage and (or) mortgages, and for the purpose of payment of the expenses connected with preparation and placement of bond issues with mortgage covering";
to state the paragraph of the sixth in the following edition:
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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