Bondarevskaya Valeriya

Kharkiv banking institute University of banking

National bank of Ukraine

Modern technologies of the bank mortgage crediting

Credit operations occupy the determine place in the brief-case of bank assets. That’s why the correct organization of the mortgage process, development of the efficient and flexible control system by mortgage credit operations is the basis of financial and market stability of bank institutions. It is comparative with foreign experience of the mortgage programs realization, now the Ukrainian mortgage market is in the „first stage”, this fact says that for Ukraine, all mortgage brief-case does not exceed 2% of GDP, while in the USA sum of such credit brief-case arrives at 40% of GDP. By specialists estimations, in the year of 2007 in Ukraine, on the conditions of the mortgage credit was designed only 15% of all credits operations. In the USA, for example, acquiring by a mortgage a 70% real estate, in Germany – 50%, in Poland – 30%. The given conditions of mortgage credits in comparison with some countries testify about substantial differences. In the Ukraine the technologies of the mortgage crediting spread rapidly. All more banks get experience in development and realization of the mortgage programs. On this stage it is necessary to mark the basic parameters of mortgage crediting in Ukrainian banks: the interest rates value it is from 18% to 20% - in national currency and from 10% to 15% - in foreign currency; the primary payment it is from 30% to 15%; the credit value it is from 50% to 100%; period of credit it is from 5 to 30 years. Taking into account a foreign experience, it should be noted, that for the efficient functioning of mortgage market interest rate on mortgage credit must not exceed 10%, and it can not change more than on 4,5% annually. In this research was exposed, that one of the central problems in the mortgage crediting technology is the problem of indexation instruments of credit debt. On this case for Ukrainian practice there is a useful example of mortgage technologies, which used by the Kazakhstan mortgage company. It should be noted, that in the banks of Kazakhstan interest rate on mortgage credit are floating and they are change depending on inflation in the country, that is topically for Ukraine nowadays. Taking into account a foreign experience, in this research the optimization of interest rate's parameters depending on inflation have been given. Rate which takes into account inflation, named the gross premium:

(1)

where - gross premium

- interest rate in the moment of credit registration;

- annual level of inflation;

- term of loan.

Dependence of interest rate on inflation it is possible to represent graphically by the resources of calculation-mathematical product MATHCAD, on the base of which the mathematical model of dependence of interest rate on mortgage credit from inflation have been given.

Pic. 3. Function of the gross premium

On this graph the size of interest rate is limited by an interval from 5% to 25%, it means that value, is within the limits of interval: . Inflation rate are limited by an interval from 2% to 25%, it means that value, is within the limits of interval: . The term of crediting makes 3 years for construction of this mathematical model. The red line on this graphic model marks the level of inflation – 6,2%. This method of gross premium estimation gives possibility to forecast how the gross premium will change depending on inflation for the certain periods of time. This method of gross premium estimation is useful for prognostication of interest rate value depending on inflation, taking into account a long-term character of mortgage credit and risks, which inherent to the mortgage credit.

In the turn it will give to the banks the possibility to manage their credit brief-case in a high and efficient level, to create the adequate risks control system, to satisfy the necessities of the clients and, as a result, to provide profitable activity.