The new trick AHML: It is unlikely that will increase the demand for mortgages

From August HMLA expanding channels mortgage refinancing. As CEO, said yesterday the agency Alexander Semenyaka, now it will not only buy mortgage loans from partners, but also lend to banks against collateral of mortgages. Experts point out that lending will be less profitable for HMLA than refinancing. They also questioned the effectiveness of the new tool and is not shared expectations HMLA that counts with a new type of credit refinance to increase this year by almost 30% to 65 billion rubles. Banks to lend to HMLA will not bail all mortgages, but only those whose loans are issued by the agency to new programs, "Variable Rate", "maternity capital" and "low-rise housing." "For example, the" Variable Rate "means the binding rate on the loan for refinancing, plus 2%", - says Alexander Semenyaka. Thus, the interest rate on credits extended by AHML will reduce to 9.75%, which should stimulate growth in demand for mortgages. The scheme of the same bank lending HMLA program "variable rate" looks like this: a regional bank issues a mortgage at an interest rate 9.75% and is taken by the Commission for the issuance of $ 1-1.5% of the loan amount. Further, the loan is fully refinanced by another bigger bank, which accumulates a pool of such loans. And this big bank takes a loan at a rate of HMLA 6.75% (the refinancing rate minus 1%) secured 90% of the accumulated pool. As a result, a large bank is a margin of 3% and the share of the pool at 10%, which eventually will be able to securitize and to sell on the market. To work under the scheme will start from today the bank "Opening" and "Revival". The agency is negotiating with another nine banks including VTB 24, "Uralsib" and Alpha Bank. Profitability of lending at the same HMLA less than the direct refinance: 6.75% vs. 10-11% per annum. Experts doubt the effectiveness of a new type of credit AHML. "Of course, lay in the forecast can be any numbers, but I would not expect from a new loan secured by mortgages increased demand for mortgages," - said the director of the Center for Economic Research MUIF Sergei Moiseyev. According to him, due to the fact that regional banks are not in a hurry to make loans for housing even if they promise to refinance. "With such proposals have already performed some of the major banks, in particular, VTB 24", - Sergey Moiseyev. According to him, regional banks still do not have enough long-term liabilities to deal with a mortgage, which means that we expect from them more or less significant amounts is not necessary.