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Guarantee agreements for immovable objects such as land/buildings, the provisions of Law Number 4 of 1996 concerning Mortgage on Land and objects. To improve mortgage services meet the principles of openness, timeliness, speed, convenience and affordability, it is necessary to utilize information technology, mortgage service procedures can be integrated electronically become more effective and efficient. Spatial Planning of the Head of the National Land Agency Number 9 of 2019 concerning Electronic Integrated Mortgage Services which has been effective since its promulgation. The Ministerial Regulation Number 3 of 2019 concerning the use of electronic systems and 7 of 2019 is concerning changes in the form of certificates. The various ministerial regulations is a step forward and expected to make it easier for the public to get services, especially Electronic HT registration by utilizing technological developments, considered suitable with the current situation of the Indonesian state which are facing the COVID-19 outbreak. [ABSTRACT FROM AUTHOR]

The institutional changes of the mid-19th century made the modernisation of the Brazilian economy possible, as well as that of credit relations. We sought to evaluate the mortgage market before and after the 1864 reform and the institution of the Banco do Brasil's mortgage portfolio in 1867. We found a very comprehensive market throughout the territory in 1855-1859, although concentrated in the main urban centres. The evidence shows the expansion of mortgages after the two measures taken, but at the end of the 19th century this expansion came to an end. [ABSTRACT FROM AUTHOR]

The continued rise in house prices has sparked increasing interest in housing affordability in Malaysia. Middle-income-earning buyers, who fear that house prices may increase to a level beyond their future financial capacity, took on excessive leverage and overextended their current financial capacity. This increases their probability of default, which is unfavourable to the banking industry providing these mortgages. This study examined the impact of rising house prices on housing affordability in three urban regions in Malaysia and found that house prices in these cities, especially landed houses, were unaffordable for middle-income-earners. This study also examined the impact of a collateral valuation loss to the banking system from the potential decline in house prices, by employing a solvency stress test. The study found that the banking system remained fairly capitalised to survive a mild single-risk factor financial shock of the equivalent of house price declines in the 1997 Asian Financial Crisis. [ABSTRACT FROM AUTHOR]

This research presents a study of one of the protective principles in civil law in the Latin school; That is, the principle of closing the mortgage. The origin in Latin law is based on the prohibition of such a principle in mortgage contracts. However, developments in the Western world in the economic and social field have contributed to breaking the protective strictness that characterizes Latin law, so the origin in those laws became the principle of the permissibility of closing the mortgage; Provided that this is stipulated in the contract. With regard to both the Egyptian Civil Code and the Kuwaiti Civil Law, both laws still adhere to the principle of the inadmissibility of closing the mortgage and considering any condition that violates it as a violation of a rule of public order, which the judge will invalidate without the slightest regard for the agreement concluded between the contracting parties. In this study, we will also address new forms of mortgages that have emerged recently as a result of economic and consumer development, and whether the legislature will allow their closure or not. [ABSTRACT FROM AUTHOR]

Copyright of Przeglad Sejmowy is the property of Kancelaria Sejmu 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 Year-Book of Lithuanian History / Lietuvos Istorijos Metraštis is the property of Lithuanian Institute of History 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 usual view is that households who purchased at the top of the market are those most at risk of foreclosure due to price declines. Our paper shows that the presence of house price appreciation, coupled with liberal lending practices, also leads to higher risk of having negative equity, the primary driver of foreclosure. Using public record data to study Southern California borrowers actually experiencing foreclosure during 2006 - 2008, we show that 41% of them extracted equity. The borrowers who extracted lost their homes despite having, on average, 14% initial equity and 5% home value appreciation during their ownership period. In addition, low loan-to-value, price increase, young age and high income level increase propensity to extract. [ABSTRACT FROM AUTHOR]

Our endeavour is dedicated to a few security devices. The first part of the current work is called "Words of Introduction". The second portion takes into account a Privy Council case: Agnew and Another v. Commissioner of Inland Revenue, Privy Council (New Zealand), 5 June 2001 (the Brumark case). The third part briefly focuses on charge and mortgage. The fourth portion, in a succinct manner, describes the hypothec. The fifth and final part shows that charge and hypothec are functional equivalents. [ABSTRACT FROM AUTHOR]

Since the price peak in 2006, home values have fallen more than 30 percent, leaving millions of Americans with negative equity in their homes. Until the Supreme Court's 1993 decision in Nobelman v. American Savings Bank, the bankruptcy system would have provided many such homeowners with a remedy. They could have filed bankruptcy, discharged the negative equity, committed to pay the mortgage holders the full values of their homes, and retained those homes. In Nobelman, however, the Court misinterpreted reasonably clear statutory language and invented legislative history to resolve a three-toone split of circuits in favor of the minority view that debtors could not modify even the unsecured portions of the mortgages on their principal residences. Courts and commentators have since assumed that modifying home mortgages in bankruptcy is impossible. This Article presents a legal strategy for modifying home mortgages despite Nobelman. The strategy requires that debtors move out of their houses, lease the houses for one year, file bankruptcy, and propose mortgage modification plans that pay mortgage holders the full current values of the houses. This Article argues that despite the artificiality of a move-out with the intention to return, bankruptcy judges will approve the modification plans. The judges will do so because existing precedent requires approval and because the modification plans will be in the best interests of not only the debtors but also the mortgage holders and the American economy. The strategy will enable hundreds of thousands of homeowners to retain homes they would otherwise have lost to foreclosure.

Ayni hakların teminat amacıyla kullanılması ekonomik ihtiyaçların gelişimiyle doğru orantılıdır. Rehin hakkının ekonomik ihtiyaçları karşılamadaki sınırlılığı, mülkiyet hakkının teminat amacıyla kullanılması zorunluluğunu doğurmuştur. Böylece, ayni hakların teminat işlevi geniş bir uygulama alanı bulmaya başlamıştır. Çalışmada ilk olarak, mülkiyet hakkının teminat olarak nasıl kullanıldığı, ikinci bölümde ise taşınmaz yükü ve rehin hakkının teminat işlevi incelenmiştir.

The article is aimed at studying the current features of development of the mortgage market in European countries in order to identify promising directions of improvement of financial and economic levers and regulatory approaches to its reform in Ukraine. The socio-economic, macroeconomic and financial indicators of the European mortgage market are analyzed, in particular the share of social rented housing in the housing stock of countries; comparisons of the share of non-refundable mortgage loans, the volumes of mortgage crediting, the capital investments of the population, the cost of mortgage crediting are carried out. Key positive features of development of the mortgage market in the EU have been allocated as benchmarks for improving the functioning of the mortgage market in Ukraine, namely, increasing financial resources for the long-term investment in house-buying; reducing the cost of loans and creating the conditions for proper forecasting of the financial future; increased social and legal protection of the population, in particular with regard to the provision of social rental housing; improving transparency and information transparency in the mortgage market and providing all participants with relevant information about investment prospects; creating unified regulatory approaches to standardization in assessing the value of collateral assets; improving the methods of regulation of financial risks in concluding mortgage contracts on the part of both creditors and borrowers.

Recently, there is an acute need for the creation or modernization of infrastructure facilities - transport, energy, utilities, social and other types of infrastructure, against the background of a lack of financial resources of budgets of all levels and under budgetary constraints. This situation as a whole leads to the search for additional sources of funding in the field of public-private partnership. In this context, the use of infrastructure mortgages is becoming increasingly important and relevant. The purpose of this work is to systematize the advantages and disadvantages of infrastructure mortgages, identify the main models for converting long-term liabilities into assets and justify the feasibility of creating a specialized project finance institution concentrating its activities on competent selection, structuring and monitoring of projects. In the study the author used general scientific and special methods: analysis and synthesis, analogies and comparisons, generalizations, graphical method. In the article the author identifies the features of the infrastructure mortgage and forms its advantages and disadvantages. The four main models for converting long-term liabilities into assets to be turned around are presented. The models of direct and indirect refinancing of mortgage loans through long-term debt obligations of the primary lender and the model of transferring the rights of claims on mortgage loans (mortgages) to the secondary market operator are schematically presented. The need for standardization of infrastructure mortgage to facilitate the refinancing of such projects, the formation of separate groups and their further securitization are proved. A set of state measures has been developed to reduce the risks and costs of infrastructure mortgage investors.

The development of the economic and legal component of the mortgage lending system in Ukraine is traced. It was determined that the adoption of the Law of Ukraine «On Property» was the first step towards the formation of the mortgage market in the country. The mortgage system is studied as a factor influencing the accumulation of free funds, their redistribution and risk reduction. The role of mortgage lending in solving socio-economic problems of the country is considered. The necessity of studying the experience of other countries and taking into account national peculiarities for effective development of the mortgage system in Ukraine is substantiated. It was emphasized that the level of development of the mortgage lending market shows the maturity of the financial system development and the degree of confidence of the population of the country in the financial and credit system. The subject of the study is evolution of the economic-legal component of the mortgage market in Ukraine. The purpose of the work is to substantiate the logic of the economic and legal aspect of the formation and development of the system of mortgage lending in Ukraine. To achieve the goal, the system approach was used - to integrate the methodology of scientific knowledge of the history of the development of the financial system in Ukraine as part of the world financial system, which made it possible to establish the need to take into account world experience, current problems and taking into account national specificity; logical-critical analysis - in determining the sequence and extent of the importance of separate legal acts in Ukraine. The practical significance of the results is the possibility of their use to improve the theoretical basis of the formation of the system of mortgage lending in Ukraine. Conclusions. 1) The modern market of mortgage lending is the result of a long, gradual, logical development of the financial market; 2) The level of development of the mortgage lending market indicates the maturity of the financial system and the degree of confidence of the population of the country in the financial and credit system; 3) For a long historical period, the Ukrainian lands belonged to different state formations; accordingly, the laws and the procedure for the formation of the financial system changed, which contributed to its «lagging» in development from the western countries; 4) The first step in shaping the system of mortgage lending in independent Ukraine was the adoption of the Law of Ukraine «On Property», because private property issues are the cornerstone of the country's mortgage system; 5) Mortgage should become an effective financial mechanism that overcomes the problem of accumulation of financial resources of our country in conditions of high inflation; will help to solve the problem of introduction of technological innovations, modernization of agriculture, industrialization of industry, solving chronic and large-scale problems of residential unfinished projects.

The similarity of fiducia with other law institutions of the Civil Code can be made to a certain extent. However, fiducia remains a profoundly different contract than other contracts such as the administration of the assets of others, the mandate or the mortgage and a thorough comparative analysis is necessary. Thus, the use of fiducia for certain operations and under certain conditions is perfectly justified. The comparison between fiducia and mandate bears many similarities, however a great difference is that in the case of the mandate there is no transfer of ownership. Also, fiducia can be confused with the administration of the assets of others, from which it also borrows some attributes in the matter of the fiduciary's remuneration. However, in this case, the differences are of substance. There are also many similarities to guarantee agreements as both types of contracts are accessories to a main contract that they guarantee. It is also worth mentioning that the introduction of fiduciary operations into the Civil Code is not only a complement to the already existing contract framework with another similar contract, but a real evolution towards the opening of Romanian civil law to a completely different category of advanced contracts that allow sophisticated business operations.

Financing of real estates was a trigger of the largest financial crisis after the “Great Depression” from the early thirties in the last century. One of the main causes of this 2007 crisis was poor risk management in real estate financing. The aim of this paper is to examine the impact of different classes of indicators on credit default rates of real estate loans. Two research approaches should confirm a model that proves how strong the relationship is between different predictor variables such as interest rates, macroeconomic and individual indicators on the response variable of credit defaults. The first approach focuses on conducting descriptive and inferential experimental research by collecting secondary data in different markets and by analysing these data for correlations and linear regressions. The second approach is an expert survey of different banks to compare and complement the results of the first research approach. The research provides the evidence that individual indicators and macroeconomic indicators have a higher impact on credit defaults than interest rates. The scientific research on this theme has led to nearly the same results in different markets: the unemployment rate and thus personal conditions are the most responsible predictors for the credit defaults, also in different markets. The novelty of the present research is the proof that a banking survey with primary data on the causes of credit defaults confirms and complements the results of the secondary data analysis.

Housing cooperatives are the organizations among others, which have played important roles in meeting the housing needs of people. In Nigeria, housing finance is through the formal and informal institutions; and personal residences accounted between 75 and 90 per cent of household wealth, that represents between 3 and 6 times their annual income. Finance is an important determinant of success and failure of housing ownership. It, therefore, becomes very necessary to identify viable sources of funding that can promote house-ownership. This paper examined the activities of Cooperative Societies in the provision of funds for house ownership in Nigeria with a focus on Akure. In the conduct of the social survey for the study; two sets of questionnaire were used. The first set of the questionnaire focused on House-owners and 683 sampled houses-owners were administered with the questionnaire in Akure. The second set of questionnaire was administered on the government officers' in-charge of the administration of the cooperative societies in Akure. The answers to the questions in the questionnaire were adequately supplied. The data were subjected to statistical analysis. The findings revealed among others that the main sources of funding house buildings were through personal savings and Cooperative Societies among others. It recommended that prospective house-owners should be encouraged to form and patronise Cooperative Societies as a reliable source for the housing loan.

During the 18th and 19th centuries, enslaved people in the Cape Colony were used as collateral on loans. In the near absence of formal lending institutions, private credit agreements predominated among slave-owners, as researchers have established in earlier studies. Based on a sample of 19th-century mortgage records, I use network analysis in this article to visualise the flow of credit among slave-owner debtors and creditors, showing the position of banks in a network dominated by private creditors and highlighting the role of widows in the male world of credit. The context of emancipation brought insecurity and upheaval to the colony and appears to have slowed the pace and diminished the size of loans offered on slave collateral. Yet emancipation on 1 December 1834 was not the end of the practice, as might be expected. Rather, it continued in two ways: first, mortgages on slave collateral agreed before emancipation continued with unchanged terms into the period of apprenticeship; secondly, new mortgages were agreed after emancipation on the basis of apprenticed labour and future compensation payments. The way in which compensation – in cash and years of labour – was organised secured former slave-owners' access to credit in the transition from slavery to wage labour. [ABSTRACT FROM AUTHOR]

The credit convenience through loan installment made it easier for the society to own an unmovable property. However, the emerging issue of the matter is it also contributes to loads of frozen assets. The concept of hibah is being applied as introductory step in planning assets so it can continuously be benefitted. However, the policy practiced by the banks is still not allowing any charged property to be transferred through hibah besides the property as it also does not fully belong to the buyer. This research analyzes the implementation of hibah for charged property according to fuqaha's view and observe the product implementation in Malaysia Law. This research is conducted by qualitative method using document analysis as the design of the research. The findings indicated that hibah of charged property is valid according to some of the fuqaha's view with a few conditions. The differences in the verdicts of courts in Syariah Courts about the hibah cases however confirmed that hibah is being accepted in institutions. Few challenges and weaknesses have to be overcome to implement the product so that it can not be challenged by any party. The solution between hibah document provider and the loan provider has to be quickly executed in order for a guaranteed implementation of the product. [ABSTRACT FROM AUTHOR]

Copyright of Economic History Research / Investigaciones de Historia Económica is the property of Asociacion Espanola de Historia Economica 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.)

Research into the creation of markets highlights the importance of law-making, seen to express relations between stakeholders in emerging organizational fields. Less understood is the role of existing regulation, despite related work on path-dependency. We unpack the role of extant laws by analysing consecutive attempts to establish the mortgage market in post-socialist Hungary, mobilizing the anthropology of law and actor-network methods. Based on interviews and archival documents, we find, first, that existing laws exert agency in the market-building process not only through abstract legal 'traditions' but through technical features which may resist the market arrangements proposed by political-economic coalitions. Second, the resistance of law can vary based on whether its spokespersons (guardians of legal consistency) become 'market engineers' under specific organizational configurations. We theorize this agency with the concept of 'legal infrastructure', and show how it acts as a non-human organizer of markets, ensuring compatibility across the economy. [ABSTRACT FROM AUTHOR]

Copyright of Journal of College of Education 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.)

The legal doctrine of the Supreme Court on the issue of abusive clauses is not known for its uniformity. In fact its jurisprudence has undergone a series of ups and downs which have often depended on the rulings of the European Court of Justice. This article aims to analyse the Supreme Court's final legal doctrine - we suppose - on the clause referring to the costs charged for drawing up a mortgage. This clause includes a variety of fees and the Supreme Court has provided a variety of solutions over time. Hence, we attempt to summarise and clarify the Supreme Court's final position on the costs of public deeds before the entry into force of Law 5/2019, of 15 March, which regulates mortgage loan contracts. We analyse the last of the rulings issued on 27 January 2021, which pronounces on who is responsible for paying the cost of the property valuation. We assume that this ruling is the last word on who is responsible for paying the costs generated by obtaining a mortgage loan. [ABSTRACT FROM AUTHOR]

Securitized mortgage appraisals routinely target pre-specified valuations, 45% of purchase loan appraisals exactly equal purchase prices, and appraisals virtually never fall below purchase prices. As a result, appraisals exceed automated valuation model (AVM) valuations 60% of the time and are 5% higher than AVM valuations on average. High appraisals and indicators of appraisal targeting predict loan delinquency and residential mortgage-backed security (RMBS) losses and are priced at the loan level through higher interest rates, but have essentially no impact on RMBS pricing. Selection bias simulations and unfunded loan application appraisals indicate that high appraisals are intentional. The extent to which appraisals exceed AVM valuations varies across loan officers, mortgage brokers, and appraisers, and high appraisals are associated with more repeat business for appraisers, potentially incentivizing appraisers to inflate their appraisals. This paper was accepted by Tomasz Piskorski, finance. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Al-Anbar University for Islamic 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.)

Proper compensation during foreclosure is essential to any effort to protect borrowers as consumers. However, the effectiveness of consumer protection and other safety nets during foreclosure has been debated within academia. This study contributes to this debate by exploring socio-economic group differences related to the compensatory potential of foreclosure proceedings. It employs micro-level data on foreclosure auctions in Sweden from 2000 to 2014. The results indicate that there is a correlation between high socio-economic status and a greater potential for compensation and that this is likely not explained by appraiser bias. This article discusses these empirical findings in terms of the need for strict consumer protection regulation and other safety nets, such as alternative mortgage products or debt relief, to ensure that there is a potential for compensation for all borrowers in foreclosure, regardless of socio-economic status. [ABSTRACT FROM AUTHOR]

Over the years the system of registration of ships and mortgages in Croatia has passed through significant modifications, all of them made with the intention to ensure the attractiveness of the Croatian Register of Ships and boost the competitiveness of Croatian shipping. With the latest 2019 Act on Amendments to the Maritime Code1 (hereinafter: Amendments) the system of ship registration has completed its long development, from a complex court-administrative procedure to a simple and expeditious one. In the past, the system was organised through separate registers for respective types of maritime objects (craft). Eight Harbour Master Offices, located in eight Croatian ports, had jurisdiction for ship registration and for keeping the Register Books. The Amendments organised the Register as a unified and centralised register, kept in electronic form for all types of maritime objects (navigational, floating and fixed) and maritime objects in construction, excluding war ships and ships constructed for the Armed Forces of the Republic of Croatia or foreign armed forces. The shipowner or the operator or manager of a ship in international trade or the owner or charterer of a yacht of 24 metres or over in length sailing internationally can register a ship or yacht in any Croatian port regardless of the location of its principal place of business. The concept of hypothec/mortgage was developed from “the contractual right of pledge on a ship” equivalent to the civil law hypothec, into the hypothec on a ship adopted in the 2004 Maritime Code, which confers upon the creditor the same rights as an English mortgage. The recognition of documents in English eliminates the need for translation into Croatian formerly required for registration. Now, the procedure for the registration and deletion of ships and mortgages is simple and expeditious. [ABSTRACT FROM AUTHOR]