Main products and/or services:
investing in construction of residential utilities, intermediate services in secondary market of housing
OJSC «Mordovia mortgage corporation» was established in December, 2001 on the basis of State unitary company «Agency of housing policies and mortgage». Authorized paid up capital stock of corporation amounts to 400 mln. RUR. Main shareholder (97.97%) is the Government of the Republic of Mordovia.
Main objective of the corporation is the development of mortgage housing crediting system in the Republic of Mordovia and providing housing to those, who are in need of improving their housing conditions. During the period of active work (2002-2003) OJSC «Mordovia mortgage corporation» put into operation 24.1 thousand square metres of new housing, invested 226.4 mln. RUR in construction. In 2003 corporation provided 164 mortgage credits to sum-total of 30.2 mln RUR, which is 4 times more than in 2002.
In 2004 36.5 thousand square meters of housing were put into operation, 271 mln RUR were invested in construction. In 2004 corporation provided 465 mortgage credits to sum-total of 99.2 mln RUR.
OJSC «Mordovia mortgage corporation» takes active part in realization of federal purpose programmes «Providing housing to young families in 2002-2010» (in 2003 241 contracts were signed in the frames of the programme) and «Social development of rural area till 2010».
OJSC «Mordovia mortgage corporation» directs its activities at social groups, as they are provided with wide range of privileges: percentage rate subsidies; down payment subsidies for state employees paid by republican and local budgets; partial repayment of mortgage credit for families with two and more children at the expense of republican budget.