Working Group SUPER

(Standards and Unification of Primary Market)

Working Group SUPER was set up in June 2005 within the IFC Russia Primary Mortgage Market Development Project.

Goals of the Group
• coordinate the efforts of experts in various sectors of residential mortgage lending to draft legal and regulatory materials relevant to the mortgage industry;
• develop and implement industry standards for housing mortgage lending;
• establish and promote positions of the market participants on key issues of mortgage practices.

The Group operates via subject-matter committees which comprise leading experts from the member companies.

Working Group Committees

Legal Committee
• Drafting standard documents used in mortgage lending transactions;
• Reviewing the laws to identify legal issues which hinder the development of the residential mortgage market;
• Drafting of amendments to the laws and regulations applicable to the industry.

PR and Marketing Committee
• Mass media coverage of the results of the Project and the Working Group's activities;
• Preparation of articles on mortgage lending;
• Expert advice to partner banks and other Project participants ;
• Consultations on marketing policies and promotion of mortgage products.

Insurance Committee
• Consultations to the insurance and banking regulators and industry players on legal, administrative and economic issues related to the development of mortgage insurance;
• Standardization of insurance policies, procedures and products.

Analytics and Risk Management Committee
• Systematization of risk valuation related to the mortgage lending;
• development of standard analytic tools and methods of mortgage risk management;
• Standardization of mortgage lending information flows and analytics;
• Methods of the mortgage loan portfolio valuation;
• Development of relevant prepayment and default models

Mortgage Funding Committee

- Legal and Tax subcommittee
• Identification of potential tax risks of the mortgage market participants as a result of inconsistent legislature interpretation by the tax authorities, the Ministry of Finance, courts and banks;
• Standardization and improvement of rules and procedures in the area of mortgage operations accounting;
• Consultative work and sharing of best practice experience with the Project participants.

- Analytics subcommittee

- Servicing subcommittee