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In the prepared article examines and analyzes the main problems of using a surety bond and other types of ensuring the fulfillment of obligations. Their interaction with hereditary legal relations is considered. In the plane of interaction of suretyship and inheritance, the author drew attention to the presence of personal elements in this type of provision, revealed what they consist of. According to the contract, the guarantor guarantees to the debtor’s creditor that the debtor will fulfill his obligation. The indication in the norm of the Civil Code of Ukraine that the guarantor vouches for the person of the debtor indicates the existence of the guaranty as a way of securing personal elements. The author proposes to understand this wording in such a way that the guarantor vouches for the fulfillment by the debtor himself, and not by some other person, being sure that the debtor will fulfill this obligation. Such a vision is manifested in the accessory nature of the scope of requirements to the guarantor, since in the event of a change in the obligation without the consent of the guarantor, as a result of which the scope of the debtor’s responsibility has increased, such a guarantor is responsible for the breach of the obligation by the debtor to the extent that existed before such a change in the obligation. A surety is qualitatively and essentially different from a pledge (mortgage), since the pledge is of a material nature and enjoys material protection. Suretyship refers to personal types of guaranteeing the performance of obligations, performed by a specific person, and legal succession to the suretyship is limited precisely taking into account its classification as a personal type of guarantee. This is important for inheritance under the principal obligation. The specificity of suretyship as a form of guaranteeing the fulfillment of an obligation indicates the presence of a significant specific weight of personal elements, which qualitatively distinguishes a suretyship from other types of security, in particular, a pledge. Personal elements accompany suretyship not only in terms of the scope of performance, but also in the area of legal succession, in particular in the event of the surety’s death. The presence of personal and even fiduciary elements in the suretyship limits succession to the obligation secured by the surety in the event of the borrower’s death. [ABSTRACT FROM AUTHOR]

American households owe more than $12 trillion in mortgages, which represents the main source of a family's debt. Scholars connect mortgages to the desire of families, especially better-off households, to seek housing in neighborhoods with good schools for their children, which tend to be more expensive. Although this perspective assumes a children–mortgage link, we do not know whether having children actually increases mortgage, nor whether and how this relationship varies by household income. To examine these issues, we use eleven waves of the Panel Study of Income Dynamics data between 1997 and 2017 and individual fixed effects, as well as propensity score matching and a quasi-experimental design. Our analyses show that generally, (1) families with children are more likely to have mortgage debt and in greater amounts; (2) it is families in the 60th to 100th income percentile who have the most mortgage debt; and (3) critically, families in the roughly 10th to 60th income percentile have more mortgage debt due to having children. These findings defy assumptions that it is well-to-do families that take on more mortgage debt as part of intensive or concerted cultivation parenting practices. Rather, our findings suggest that families who take on mortgage debt related to their children tend to be those in more economically precarious positions for whom debt for the sake of kids may be a financial burden. As such, our findings provide suggestive evidence that financially intensive parenting may contribute to growing wealth inequality among American families with children. [ABSTRACT FROM AUTHOR]

This study examines mortgage loan fallout using data provided by a leading financial institution. By accurately predicting mortgage loan fallout, lenders can protect their bottom line, maintain financial stability, and contribute to a healthier economy. The paper employs various machine learning models to predict mortgage fallout based on loan, market, property, and borrower characteristics. A large dataset of locked mortgage applications from a major U.S. lender was analyzed. The random forest model demonstrated superior predictive efficiency and stability. To understand the factors influencing mortgage fallout, the SHAP method, along with empirical analysis with logistic regression, was utilized to identify key determinants. The paper discusses the implications of these findings for mortgage lenders and future research. [ABSTRACT FROM AUTHOR]

Using a novel combination of mortgage datasets, we analyze the effects of two policy levers influencing the scope of Fannie Mae and Freddie Mac's (Government-Sponsored Enterprises, GSEs) involvement in the U.S. residential mortgage market. First, we find that small changes in mortgage guarantee fees charged by the GSEs were essentially fully passed through to consumers, with limited effects on mortgage demand. This implies that small fee changes are primarily transfers between mortgage consumers and taxpayers while the GSEs remain in federal conservatorship. Second, the data suggest that marginally lowering maximum conforming loan size limits would cause most affected consumers to reduce their loan amounts to the new maximum. Our findings provide new detailed evidence on how GSE policy shapes mortgage availability and contrast the differing effects on consumers of two potential policy levers to reduce (or increase) the scope of GSE lending. Additional survey data indicate that borrowers' shopping behavior and incomplete information may also influence the effects of GSE policy changes. [ABSTRACT FROM AUTHOR]

This article makes a key contribution to the comparative political economy literature by accounting for the macroeconomic role of household finance. Based on post-Keynesian theories of finance and the financialization literature, we place house prices and mortgage credit squarely at the center of the macroeconomy, as speculative house price cycles can facilitate homeowner consumption via the use of equity release mortgages. Through an econometric evaluation of eighteen advanced economies from 1980 to 2019, we demonstrate that household debt is determined by house price inflation, and that rising household debt contributes to GDP growth, while business debt has negative growth effects. These results are consistent across countries with different growth models and financial systems. This suggests that the varieties of capitalism's focus on corporate finance is misplaced and that the growth models approach needs a theory of house prices, mortgage credit, and financial cycles to adequately conceptualize how debt-driven growth operates across advanced economies. [ABSTRACT FROM AUTHOR]

Copyright of Comparative Studies on Islamic Countries Law is the property of Ilam University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We assemble a property-level panel of appraiser-reported attributes associated with 4.6 million loan applications from 2013 to 2017 to test whether attributes were consistently reported. Appraisers have an incentive to misreport property attributes to justify higher appraised values to ensure that associated mortgage loans are approved. We focus on property transactions with multiple sets of attributes reported by the same appraiser within four quarters and find evidence consistent with an intent to inflate valuations through attribute misreporting. We find that strategic misreporting of attributes is prevalent across markets, and that highly leveraged borrowers whose appraisals had inconsistently reported attributes were 9.8 percent more likely to become seriously delinquent in their loan payments. [ABSTRACT FROM AUTHOR]

We examine how mortgage brokers affect borrower confusion about key mortgage features and assess whether brokers mitigate confusion by educating borrowers. Drawing from two lab-in-the-field experiments, we first show a correlation between the attributes borrowers find most confusing and those they find least important. Second, we show that borrowers who secure loans directly from lenders demonstrate lower confusion levels compared to those using brokers, even after accounting for self-selection bias. Despite this, broker users exhibit higher decision satisfaction and confidence after taking a loan. Third, using responses from discrete choice experiments to implement a causal mediation analysis with a single IV, we evaluate the influence of broker use, financial literacy, and subjective confusion on borrowers' willingness to pay for specific mortgage attributes. Our findings reveal that broker users are willing to pay more for attributes that increase the value and duration of loans, increasing broker commissions. [ABSTRACT FROM AUTHOR]

I investigate the impact of securitization on the risk-taking by bank holding companies (BHCs). For 2001 to 2017, I find a negative relationship between securitization and the risk appetite of BHCs. I find a negative relationship between securitization and the risk appetite of BHCs that is consistent with the recourse hypothesis of securitization. I also discover that the equilibrium in this relationship changes from the pre-crisis to the crisis period (crisis effect). This crisis effect hampers BHCs' ability to engage in securitization that leads them to accumulate more risky assets on their books due to the deteriorated quality of their loan portfolios. This equilibrium then reverses after the crisis (post-crisis effect) due to policy makers' response to the excessive risk-taking that manifested during the crisis. Moreover, I find that the securitization of residential mortgages not only boosts the recourse hypothesis but also triggers the crisis effect. My findings provide novel empirical insights into the different nexuses between the securitization and risk appetite of BHCs around the financial crisis. [ABSTRACT FROM AUTHOR]

In general, there are laws that provide protection to banks as lenders to obtain repayment of their debts when the debtor is in default, this is stated in Article 1131 of the Civil Code which reads: "All assets of the Debtor, whether movable or immovable, whether existing ones or those that will be in the future become dependents/guarantees. Debtor's assets, both movable and immovable, both present and future will become dependents/guarantee for their debts”. Then Law Number 4 of 1996 was born which specifically regulates the implementation of Mortgage (UUHT). One of the characteristics of the UUHT is that it is easy and certain to execute, which means executing the mortgage certificate. must be carried out but can still provide legal certainty for interested parties, in this case, the auction seller, auction buyer and auctioneer. Therefore, in carrying out executions based on parate execution, it must be able to provide convenience and legal certainty for all interested parties. [ABSTRACT FROM AUTHOR]

Copyright of Annual of the Faculty of Law / Godišnjak Fakulteta Pravnih Nauka is the property of Pan-European University Apeiron and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Derecho Privado (0123-4366) is the property of Universidad Externado de Colombia, Departmento de Derecho Civil and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article analyses property relations in post‐socialism through the analytical lens of housing studies and moral economy, specifically in the context of rental and neighbour relations in urban apartment buildings. It draws on 50 in‐depth residential biographies of residents of St. Petersburg, Russia, collected between 2017 and 2021. The interviews represent a diversity of tenures, as well as direct and indirect voices of homeowners and non‐owners. The article begins by introducing the socio‐historical context of the privatisation and commodification of housing in post‐socialist Russia. Then, based on the stories of the origin of property and the intensity of attachment to it, I analyse owners’ homemaking through daily interactions with other owners and non‐owners who act as their tenants and neighbours. Focusing on privatised, mortgaged, and inherited residential property, I identify three trajectories of complex relationships between owners and non‐owners in urban buildings and modes of homemaking, at the intersection of monetary and non‐monetary relations and imaginaries of counterparts. I argue that despite everyday interactions in the housing market and in apartment blocks, both the owners of privatised Soviet property and new owner‐occupiers tend to avoid the total commercialisation of the home and to challenge the dominance of homeownership as the only socially sanctioned tenure.

Copyright of Akdeniz Üniversitesi Hukuk Fakültesi Dergisi is the property of Akdeniz Universitesi Hukuk Fakultesi Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We investigate the valuation problem of a mortgage contract with full prepayment and default risks using the reduced-form model with regime switching. The hazard rates of full prepayment and default are specified as linear functions of the risk-free interest rate and house prices, respectively, which are characterized by Ornstein-Uhlenbeck processes with regime switching. To derive the explicit valuation formula, we derive the distribution of the number of transitions for two-state Markov processes in finite time and the conditional joint probability density function of transition times using the uniformization technique. Finally, we analyze the effect of parameters on the valuation of the mortgage. [ABSTRACT FROM AUTHOR]

Copyright of Arts Magazine is the property of Thamar University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Anbar University for Law & Political Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Comparative Studies on Islamic Countries Law is the property of Ilam University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Human Sciences Journal / Revue des Sciences Humaines is the property of Universite des Freres Mentouri Constantine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The sale of dwellings in different stages of construction is, without a doubt, a current topic. A lot of investors (real estate promoters) operate on the real estate market from Romania, taking advantage, perhaps, of the existing legislative framework, which is too permissive, in our opinion, and which inevitably leads to unwanted effects both by clients and by the other participants in the instrumenting of sales documents (including sales promises), with the exception of investors, in the almost exclusive profit of whom the documents are concluded. For these reasons, through this study, we are trying to make more visible the activity of construction and of sale of dwellings not yet finished or in various stages of construction, with the hope that the legislative bodies of this country will notice the need for a special regulation in this field, as some European countries very close to Romania have already done, so that, in the end, the sale of dwellings that are in different stages of construction is recognized and regulated as such, as a distinct variety of sale, alongside the other varieties of sale currently regulated in the Civil Code through Title IX, Chapter I, Section 4, devoted to varieties of sale. [ABSTRACT FROM AUTHOR]

Copyright of Romanian Review of Private Law / Revista Română de Drept Privat is the property of Universul Juridic Publishing House and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In 2009, the Federal Reserve subjected nonbank mortgage-originating subsidiaries of bank holding companies (BHCs), but not independent nonbank (INB) mortgage originators, to consumer compliance supervision. We examine the effects of this regulatory change on the pricing and performance of nonbank originations using a sample of conventional, first-lien, amortizing mortgages originated between 2000 and 2015. We find that subsidiary nonbank (SNB) loans, which had a higher probability of default than INB mortgages prior to the policy change, had a lower probability of default following the change. In addition, we identify small but statistically significant decreases in loan interest rates and loan-to-value ratios for SNB mortgages relative to INB mortgages. When we split our sample into prime and subprime mortgages, we find those effects hold for prime mortgages. For subprime mortgages, after the policy change SNB originations had higher interest rates and lower LTV ratios than INB mortgages, with only weakly significant differences in probabilities of default. The findings are robust to several potential confounding effects, including those due to firm entries and exits. Our findings are consistent with BHCs reducing risk shifting in mortgage lending across subsidiaries following their heightened regulatory scrutiny. [ABSTRACT FROM AUTHOR]

The study addressed the legal provisions regulating movables without possession in mortgage contracts, in light of the "Law of Security of Rights in Movable Properties No. (20) Of (2018)" and "Movable Properties Regulation No. (125) Of (2018)", where it showed the compatibility of these provisions with the general rules of the subject matter in the Civil Code in terms of the existence and designation of the subject matter. The study revealed the existence of floating mortgages and other specific mortgages within the provisions of this law. It also revealed a contravention of the principle of mortgage allocation, and a clear legislative lack for emerging forms of mortgage such as future movable mortgages and the floating mortgage of movable subject matters. The study also identified the material and moral movable assets that may be suitable to be the subject matter to mortgage contracts without possession in accordance with the provisions of this law. [ABSTRACT FROM AUTHOR]

The purchase of real estate by foreigners and its full ownership in the Gulf countries has become feasible only recently. The diversification of the economies of oil exporting countries is forcing them to strengthen the role of non–oil sectors, in particular the real estate sector.A sharp increase in demand for real estate occurred, including two years ago, with the arrival of wealthy Russians on the UAE market, who decided to minimize the risks to their finances by investing in real estate in the Emirates.At the same time, despite the opening windows of opportunity for foreign investors, according to some experts, the UAE market may be overheated and a bubble, characteristic of fast-growing markets, will form, the further development of which may lead to a market decline.

Mortgage lending is one of the most popular, but expensive types of lending. State participation through incentives increases the attractiveness of mortgages, but at the same time leads to sectoral, territorial, and subjective injustice. The study objectives are to determine the reasons for the differentiation of preferential mortgage conditions for different participants, to analyze the consequences of such differentiation, as well as to justify the need and develop regulatory measures in this area. The research used domestic and foreign scientists’ scientific works in the field of preferential mortgage lending, regulatory legal acts and program and strategic documents for the development of the mortgage bank lending market, as well as data generated by the authors on the basis of official statistical materials. Methods of statistical analysis, system-logical analysis, as well as general scientific methods such as induction, deduction and synthesis are used for analytical data processing. The audit of preferential mortgage lending programs revealed discriminatory factors by industry, territorial principles, as well as in relation to borrowers and lenders. Preferential programs should be targeted, conditions should be transparent, and methodological approaches should be the same for all participants involved in the implementation of programs. Differentiation of preferential mortgage lending programs should be regulated by the state, otherwise it may lead to discrimination.

In 2003, the Republic of Slovenia adopted a new Real Property Code. One of the most significant novelties brought about by that code was the expansion of the numerus clausus of real subjective rights by introducing the institute of land debt, as a non-accessory lien, following the example of the German and Swiss institutes. The function of land debt is basically the same as the function of mortgage, i.e. to secure the provision of a specific claim or debt, but its main advantage over a mortgage is its non-accessory nature. In contrast to Germany, since its introduction, land debt has been a less frequently used institute in business practice in Slovenia. In the last few years, before its abolition in 2013, land debt came to the attention of the Slovenian public as an instrument that was almost exclusively used by suspected and accused persons to secure property in order to avoid paying debts. In this paper, the author analyzes the normative framework of this new institute, as well as the reasons for its abolition and deletion from the legal system of the Republic of Slovenia after ten years of existence.

A land administration system (LAS) is a structured framework designed to govern the management of land resources in a specific region or country. However, LAS faces challenges like inefficiencies, a lack of transparency, and susceptibility to fraud. The digitization of land records improved efficiency but failed to address manipulation, centralized databases, and double-spending issues. Traditional lease and mortgage management systems also suffer from complexity, errors, and a lack of real-time validation. At present, a significant influx of land transactions produces substantial data, classifiable as big data due to constant minute-to-minute occurrences like land transfers, acquisitions, document verification, and leasing/mortgaging transactions. In this context, we present a Blockchain-driven system that not only tackles alteration and double-spending issues in traditional systems but also implements distributed data management. Current state-of-the-art solutions do not fully incorporate crucial features of Blockchain, such as transparency, prevention of double-spending, auditability, immutability, and user participation. To tackle this problem, this research introduces a comprehensive Blockchain-powered framework for lease and mortgage management, addressing transparency, user involvement, and double-spending prevention. Unlike existing solutions, our framework integrates key Blockchain characteristics for a holistic approach. Through practical use cases involving property owners, banks, and financial institutions, we establish a secure, distributed, and transparent method for property financing. We verify the system by employing smart contracts and assess the cost and security parameters while validating the blockchain-based mortgage and lease functions.

American households owe more than $12 trillion in mortgages, which represents the main source of a family’s debt. Scholars connect mortgages to the desire of families, especially better-off households, to seek housing in neighborhoods with good schools for their children, which tend to be more expensive. Although this perspective assumes a children–mortgage link, we do not know whether having children actually increases mortgage, nor whether and how this relationship varies by household income. To examine these issues, we use eleven waves of the Panel Study of Income Dynamics data between 1997 and 2017 and individual fixed effects, as well as propensity score matching and a quasi-experimental design. Our analyses show that generally, (1) families with children are more likely to have mortgage debt and in greater amounts; (2) it is families in the 60th to 100th income percentile who have the most mortgage debt; and (3) critically, families in the roughly 10th to 60th income percentile have more mortgage debt due to having children. These findings defy assumptions that it is well-to-do families that take on more mortgage debt as part of intensive or concerted cultivation parenting practices. Rather, our findings suggest that families who take on mortgage debt related to their children tend to be those in more economically precarious positions for whom debt for the sake of kids may be a financial burden. As such, our findings provide suggestive evidence that financially intensive parenting may contribute to growing wealth inequality among American families with children.

Shadow banks, such as investment funds, hedge funds, and mortgage finance companies, have grown rapidly in recent years. We analyze the link between monetary policy and the growth of shadow banks and, by extension, financial stability in Canada. Using monthly financial market data from 1991 to 2015, we first find that contractionary monetary policy does not cause the expected reduction in shadow bank business loans and mortgage loans as it does in chartered bank credit. This suggests that as shadow banks have grown in importance, the effectiveness of monetary policy in reducing inflation has been impaired. We find evidence to support that hypothesis using a two-stage time-varying coefficient Bayesian vector autoregression approach. [ABSTRACT FROM AUTHOR]

This research aims to determine the resistance to cancellation of auction for the collateral object of the mortgage right and the creditor’s responsibility toward the auction winner, when, the object of the mortgage right has a lawsuit against the creditor from another party. The research method used in this research is a normative juridical research method. The research results show that the auction cannot be canceled if it complies with existing regulations and procedures as regulated in PMK.No.213/PMK.06/2020 concerning instructions for carrying out auctions. Creditors can be held responsible if an auction is canceled after the auction has been executed as regulated in Minister of Finance Regulation, PMK No. 213/PMK.06/2020 concerning instructions for implementing auctions. Creditors must ensure the validity of the mortgage object being auctioned. So, if the creditor is negligent in this matter, it is the responsibility of the creditor (auction seller) to provide compensation for third-party losses. [ABSTRACT FROM AUTHOR]

In a mortgage valuation model, the early termination (i.e., prepayment and default) hazard rates and the recovery rate can be specified as multivariate affine functions that include the correlated stochastic state variables. For good capturing of the distributions for state variables, we specify that the state variables follow Lévy models. Accordingly, the early termination hazard rates and the recovery rate also follow Lévy models. Three popular Lévy models, the normal, Variance Gamma (VG), and Negative Inverse Normal (NIG), were used to obtain the closed-form pricing formula for a mortgage. We also conduct numerical applications. Our results reveal the following findings: first, VG model is better than the normal and NIG models in fitting the actual distributions of the interest rate and the housing return rate. Thus, mortgage valuation using a VG model should be better than that using the other two models. Second, the mortgage value estimated by the normal model is the lowest among the three Lévy models. Third, a prepayment hazard rate with a deterministic value (e.g., using the PSA prepayment model) could result in an unreasonable mortgage duration. Fourth, the mortgage convexity calculated by the normal model is higher than that in the other two Lévy models. Our general pricing formula for a mortgage as described in this study can help market participants accurately value mortgages and effectively manage their risks. [ABSTRACT FROM AUTHOR]

We analyze the time variation in the average dependence within a set of regional monthly house price index returns in a regime-switching multivariate copula model with a high and a low dependence regime. Using equidependent Gaussian copulas, we show that the dependence of house price returns varies across time with changes in credit market conditions, which reduces the gains from the geographic diversification of real estate and mortgage portfolios. More specifically, we show that a decrease in leverage, measured by the loan-to-value ratio, and to a lesser extent an increase in mortgage rates, are associated with a higher probability of moving to and staying in the high dependence regime. [ABSTRACT FROM AUTHOR]

Copyright of Optimum. Economic Studies is the property of University of Bialystok and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We examine how the cost of issuing equity affects bank lending. Using the SEC rule change that allowed exchange‐listed firms with public float less than $75 million to raise equity via shelf registrations as a quasi‐natural experiment, we show that the affected banks increase mortgage lending relative to control banks. Furthermore, the affected banks reduce demand for precautionary capital and become less likely to sell mortgages to third parties. [ABSTRACT FROM AUTHOR]

In the conditions of an economic crisis, the activation of economic activity through mortgage lending becomes crucial, and the study of the development of the mortgage market in the world is necessary for a comprehensive understanding of its impact on social, economic, and financial growth. It is also essential for determining optimal management strategies for the housing sector in a specific country. The article aims to substantiate the features of the functioning of the mortgage market in the world and in Ukraine. Investigating the peculiarities of domestic and foreign mortgage markets, the authors used a statistical method to analyze the mortgage market and government mortgage credit programs in Ukraine and worldwide. Empirical evidence in the research includes data from the Ukrainian Financial Housing Company, the Ministry of Finance of Ukraine, and the Diya platform, presented using a graphical method. Abstraction, analysis, and synthesis methods formed the basis for developing recommendations for improving government programs for developing the mortgage market for housing in the world and in Ukraine. The dynamics of mortgage loans issued in Ukraine for 2019–2022 indicate a decline in mortgage loan issuance due to unstable political and economic situations. It was revealed that the restoration of mortgage lending in Ukraine is facilitated by the Ukrainian government's eOselya program, which is aimed at providing citizens with affordable housing. The specifics of mortgage lending in different countries worldwide are disclosed. The overall trend of diversity in mortgage lending conditions in the European Union indicates significant differences in approaches to housing loans in different countries. However, some positive characteristics of the mortgage market development in the EU can serve as valuable experience for reforming Ukraine's national mortgage lending market. Among them are financial and investment capacities, low cost of loans, socio-legal protection, macroeconomic stability, transparency, informational clarity, and unified regulatory approaches.

An ordinary document or charter is a document whose purpose is to write a commitment and create a guarantee for the fulfillment of the obligation. One of the conceivable challenges related to the sale of real estate is the fact that after concluding a transaction with the preparation of an ordinary document, the seller, for various reasons, puts the official document of the same property as collateral, the main ambiguity of such an action is The feasibility aspect is the criminality of the seller's act; Because in this case there is no unity of procedure and the multiplicity of votes issued is evident. This article, which has been done in a descriptive-analytical method, while explaining the different aspects of the prying transaction from the crime of transferring other people's property and proving the ability of the ordinary document to oppose the official document, shows that He denies his possession in a prying manner, and according to the law of compulsory registration of documents, the time of compiling an ordinary document is a matter of concern, if the property did not have an official document at the time of sale and the seller Preparation of a formal official document, the subject can be subject to the provisions of Article 117 of the Registration Law based on the opposing transaction; However, the existence of an official document of the property during the transaction and its transfer by means of an ordinary document, causes the subject exclusion of the seller's act from the scope of Article 117 and consequently is considered as a crime of transferable property.

The Author discusses legal consequences of the acquisition by the State Treasury of propertyleft over remaining after being removed from the court register by a housing cooperative.These consequences concern cooperative rights to real estate, mortgage encumbering therights of former members of a housing cooperative and mortgage on real estate, as well as onperpetual usufruct. In addition, the acquisition by the State Treasury gives rise to its liabilityunder contracts for the construction of premises by the housing cooperative.

During the period of monetary policy easing in Russia, mortgage refinancing became popular, which involves the issuance of a new mortgage housing loan to repay an earlier loan on more favorable terms. There is a regionally heterogeneous refinancing of mortgages at lower mortgage rates. The purpose of this paper is to quantify the impact of monetary easing on mortgage refinancing and household consumption for groups of Russian regions. Econometric methods (vector autoregression models on panel data, estimated by Bayesian methods) and multivariate clustering (hierarchical analysis, k-means method) were used in the paper. Based on the impulse response functions, it is shown that during the period of monetary policy easing, the greatest effect of lowering mortgage interest rates on refinancing is typical for groups of regions with high- and middle-income levels, a liquid housing market, and a developed mortgage market. It is proven that refinancing is involved in the transfer of the effects of monetary policy to consumer spending and consumer lending, and this transfer is heterogeneously. Refinancing in low-income regions stimulates consumption and consumer borrowing. In regions with an average and high level of per capita cash income, after refinancing, consumer spending and consumer loans are temporarily reduced. The obtained results can be explained by the different types of financial behavior of borrowers in the use of top-up mortgage refinancing, depending on the level of their cash income. Based on the results of the study, the hypothesis about the heterogeneity of the refinancing channel in the Russian regions was confirmed. The scientific novelty of the study consists in the development of a methodological approach to the study of the refinancing channel and its approbation on Russian regional data.

The study investigates the protection of the mortgagee of movables, focusing on the absence of possession of the mortgaged item and its replacement with the publicizing of the mortgage contract through registration in the unified register of rights over movable property. Additionally, the study explores the regulations that have expanded the scope of registered mortgages on movables, encompassing a majority of them. It examines the system's role in providing necessary protection for the mortgagee, allowing the mortgagor to possess the mortgaged movable. This process begins with the registration of the mortgage contract, continues during the term phase, and concludes with implementation at maturity when the debtor breaches their obligation. Consequently, the study assesses the system's efficacy in protecting the mortgage, dividing the research into two chapters based on the two periods of the mortgage. The first chapter concentrates on the systemic protection of the mortgage before the maturity of the debt, while the second addresses the period after maturity. The research concludes with a set of important results and recommendations. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Anbar University for Law & Political Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Foco (Interdisciplinary Studies Journal) is the property of Revista Foco and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

New housing regulations introduce new measures on civil, administrative, tax and litigation law matters that restrict the exercise of the powers on housing exclusively attributed to the Spanish autonomous regions. [ABSTRACT FROM AUTHOR]

This article evaluates statutory provisions and case law regarding a mortgagee's rights to exercise its statutory power of sale over the matrimonial home in Nigeria. It reveals that no statute protects the rights of family members, particularly wives and children, in the mortgaged home. The mortgagee must grapple with the reality of ownership, as wives often resort to litigation to set aside sales, on the ground that they are joint owners with their husbands. Ironically, some Supreme Court decisions, while protecting the interests of other family members (contrary to the established principles of property law), have tended to ignore the mortgagee's power of sale over the mortgaged matrimonial home, thus making it unattractive to lending institutions as collateral. This article recommends that all parties' interests should be set out in a legal framework, as in England, where a non-owning spouse's right of occupation must be registered with the land registry. [ABSTRACT FROM AUTHOR]

We examine the relationship between financial development and house prices in the Group of Seven (G7) countries over the period 1870–2016. We use parametric panel data models that incorporated interactive fixed effects and non‐parametric models that allow us to examine non‐linearities and the time‐varying nature of the relationship. Our parametric estimates show a positive relationship between financial development and house prices. The results from our non‐parametric model not only reinforce this finding but also shows evidence of a negative effect of financial development prior to the mid‐twentieth century, suggesting a time‐varying non‐linear impact. We find that inequality and mortgage loans are mechanisms through which financial development transmits to house prices. Financial crisis moderates the relationship between financial development and house prices, although this works only through sovereign defaults. Our findings are robust to a suite of robustness and sensitivity checks. [ABSTRACT FROM AUTHOR]

In the conditions of an economic crisis, the activation of economic activity through mortgage lending becomes crucial, and the study of the development of the mortgage market in the world is necessary for a comprehensive understanding of its impact on social, economic, and financial growth. It is also essential for determining optimal management strategies for the housing sector in a specific country. The article aims to substantiate the features of the functioning of the mortgage market in the world and in Ukraine. Investigating the peculiarities of domestic and foreign mortgage markets, the authors used a statistical method to analyze the mortgage market and government mortgage credit programs in Ukraine and worldwide. Empirical evidence in the research includes data from the Ukrainian Financial Housing Company, the Ministry of Finance of Ukraine, and the Diya platform, presented using a graphical method. Abstraction, analysis, and synthesis methods formed the basis for developing recommendations for improving government programs for developing the mortgage market for housing in the world and in Ukraine. The dynamics of mortgage loans issued in Ukraine for 2019-2022 indicate a decline in mortgage loan issuance due to unstable political and economic situations. It was revealed that the restoration of mortgage lending in Ukraine is facilitated by the Ukrainian government's eOselya program, which is aimed at providing citizens with affordable housing. The specifics of mortgage lending in different countries worldwide are disclosed. The overall trend of diversity in mortgage lending conditions in the European Union indicates significant differences in approaches to housing loans in different countries. However, some positive characteristics of the mortgage market development in the EU can serve as valuable experience for reforming Ukraine's national mortgage lending market. Among them are financial and investment capacities, low cost of loans, socio-legal protection, macroeconomic stability, transparency, informational clarity, and unified regulatory approaches. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between homeownership and subjective well-being. Using long panel data from Germany, we find supporting evidence for greater life satisfaction among owners compared to renters only when omitting housing characteristics. This effect reduces by more than half when comparing only owners with a mortgage to renters. Examining a variety of domain satisfactions, we show that owners, regardless of debt, report greater housing satisfaction. In contrast, mortgage-holding owners are significantly less satisfied with their income compared to renters. Assuming an aggregation of domain satisfactions to life satisfaction, we argue that the negative effects of the (size of the) mortgage cancel out the positive effects of homeownership. Moreover, we find a significant negative association between indebted homeowners and emotional well-being regardless of controlling for housing amenities. Finally, we find lower subjective well-being indicators with increasing debt-to-income ratios. We conclude that the mortgage of a self-occupied home imposes a burden on life and income satisfaction as well as on emotional well-being. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed to evaluate adoption of different housing models to access housing by households in Nairobi County. Methodology: Employing a descriptive research design, the study investigates the impact of housing regulations on housing access through mortgage and cooperative models. The research sample comprises 385 households, CEOs of housing financing organizations, and government officers. Findings: The study reveals that adoption of housing model is shaped by diverse factors. The residency duration reflects both long-term and newer residents, highlighting the dynamic interplay of urban growth and migration. Notably, 35.0% of respondents have lived in their current houses for "4 - 6 years," emphasizing housing stability. The prevalent adoption of the Incremental (34.4%) and Cooperative Models (33.4%), alongside 41.4% awareness of the Mortgage Model, signifies residents' adaptability in navigating financial avenues for homeownership. Challenges like high construction costs persist, with 80% of Nairobi's population residing in informal settlements and slums. Strengthening regulatory frameworks is crucial, and policymakers should address financial barriers. This study provides insights for creating an inclusive and sustainable housing environment, essential for the 59.2% of renters expressing aspirations to transition into homeownership in Nairobi County. In conclusion, the housing landscape in Nairobi County, particularly Ruai Sub-County, reflects a mix of long-term and newer residents, emphasizing housing stability. The prevalent adoption of Incremental and Cooperative Models, along with awareness of the Mortgage Model, indicates residents' adaptability in pursuing homeownership. Unique Contribution to Theory, Practice and Policy: Utilizing the Public Interest Economic Regulation Theory (PIERT), the Q Theory of Housing Investment, and the Theory of Distributive Justice, the research explores the interplay between government regulations, market forces, and social equity in the context of affordable housing. To address challenges, policymakers should strengthen regulatory frameworks, enhance financial policies, and promote diverse housing models. Public awareness campaigns are vital. Recommendations include tailored financial products and inclusive strategies to meet the varied needs of the population. These measures aim to create an enabling environment for accessible and sustainable housing in Nairobi County, benefiting both existing and aspiring homeowners. [ABSTRACT FROM AUTHOR]