Central and Eastern European Mortgage Finance
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Mortgage Market Laws & Tools

The Urban Institute

Institute for Market Economics (IME)


Mortgage Market Legal Framework

The first SEEMFN Working Group meeting in Sofia, in May, 2003, determined that a review of the legal infrastructure of mortgage markets in SEE was the highest priority task for the SEE Project to address.

Study of Legal Framework

Thus, Carol Rabenhorst, UI, and Stephen Butler, Jurisconsult, carried out a legal assessment in Bulgaria, Croatia, and Romania. Topics include registration of property and mortgages, mortgage loan collateral and security, foreclosure and eviction, bankruptcy, development of mortgage bonds, development of special purpose vehicles, secured transactions, and other issues. The report findings were presented at the second SEEMFN meeting in Bucharest in December 2003. The report is available here as well as the presentations given at the meeting. The analysis and critique hopefully provides a basis for other SEE countries to consider as they develop and improve their own legal frameworks.

Mortgage Market Tools

  • Template For Mortgage Market Assessments - The Urban Institute carried out brief assessments of the mortgage markets in the fall of 2002 to provide background information for the conference "Developing Secondary Mortgage Markets in Southeast Europe". The studies were undertaken following a "Template for Mortgage Market Assessments", a condensed outline of mortgage issues and topics developed specifically to guide such brief reviews.