BLOCKCHAIN IN THE MORTGAGE SECURITIZATION MARKET: PROBLEMS AND PROSPECTS
The article discusses a new trend in the introduction of blockchain technology in the mortgage securitization market, which is relatively young for our country. The high rate of development of the mortgage lending market encourages the introduction of innovations in adjacent markets and their infrastructure. Like any innovation, blockchain technology carries new problems and prospects, which determined the problems of the study. As a result, the author identifies three key problems that do not allow a quick transition to a new technology, and also identifies the advantages of the penetration of blockchain technology into the primary and secondary mortgage securitization markets. For the Russian securities market, the issue of mortgage bonds with electronic mortgages has definitely revolutionized the mortgage securities market primarily by reducing the time for processing mortgages. A complete transition to a data storage and processing system based on blockchain technology will significantly simplify and accelerate mortgage securitization transactions, while each stage will become more transparent and reliable, and most importantly, it is possible to minimize the human or fraudulent factor. The author offers a comprehensive approach to digitalization of the securitization process of mortgage assets. The development of the mortgage securitization market and the active introduction of high-tech solutions on it will further contribute to the development of the primary mortgage lending market, simplify and accelerate the process of issuing, servicing and refinancing mortgage loans.
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