INNOVATION FINANCIAL INDUSTRY IN SERBIAN CAPITAL MARKETSECURITIZATION MORTGAGE LOANS
Keywords:
securitization, MBS, the property, mortgage bonds, originator, SVP, risk, investorAbstract
This work deals with legal and institutional presumptions and limits of the application of financial innovation of securitization on the market of the capital of Serbia. Aim is to show the possibility of implementing this financial innovation into the market of capital of Serbia, relying on theoretical and empiric knowledge of developed markets of securitization. The securitization is defined in this study and the typical types and characteristics of securitization are identified. The main drives and motives and structures of securitization are explained. This work points out the risks and also advantages and disadvantages of securitization as well as basics of its application and functioning. The key instructions of securitization in European Union and experience in application in those countries are discussed afterwards. A short review of the problems that countries in transition confront in the course implementing of this financial innovation is given. In the end the proposition of the draft of the law about securitization in Serbia not yet accepted is analyzed. And finally certain legal and institutional presumptions of vital importance for the implementation of this financial innovation in the market of the capital of Serbia are identified.
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