- Öneri Dergisi
- Vol: 8 Issue: 30
- TURKISH HOUSING LOAN MARKET AND SECONDARY MORTGAGE MARKET PERSPECTIVES
TURKISH HOUSING LOAN MARKET AND SECONDARY MORTGAGE MARKET PERSPECTIVES
Authors : Meltem ULUSAN
Pages : 177-184
Doi:10.14783/maruoneri.679686
View : 11 | Download : 3
Publication Date : 2008-06-10
Article Type : Research
Abstract :Housing finance is a major issue for emerging economies. The approval of "Turkish Mortgage Law” paved the way for an efficient mortgage system in Turkey. However, the system should be supported by a comprehensive legal framework covering laws for foreclosure and title registration, the implementation of a strong secondary market mechanism and stable economy policies for the achievement. This paper begins with giving brief information regarding the key components of mortgage systems and then gives a detailed macro - economic evaluation of Turkish housing loan market, by considering the European Union. In the final section, some secondary market practices are introduced and possible perspectives for Turkey are discussed.Keywords : Primary Mortgage Market, Secondary Mortgage Market, Housing Loans, Covered Bonds, Mortgage - Backed - Securities