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In America one of the most difficult systems of the organisation of financing of habitation in the USA. The market operates on all country and includes considerable number of the financial credit organisations. Savings and loan associations, depositary and credit associations, commercial and savings banks, and also the diversified companies on property insurance here enter. The mortgage market of America became such developed by means of construction of the big network of the secondary mortgage market which have occupied a niche of credit resources. In various years such financial institutions, as Federal national mortgage association, Corporation of housing crediting were generated.



For development of the market of mortgage lending the government of the USA has allocated these credit organisations with powers to get credits for real estate under the state guarantee. So the state insurance has been based, the authorities let out the securities which cost proved to be true the redeemed mortgage loans. In America – the largest market of promissory notes. In the early nineties it made almost 3,5 bln. dollars.



In the next Canada the mortgage organisations became a classical kind of credit institutes. Enjoyed wide popularity. Financial institutions not only with delivery of credits for a mortgage, but also investments into long-term securities of the state and corporations work. The market has developed from crediting of the population for acquisition of the ground areas for agricultural working out. Then mortgage loans began to give out and on acquisition or habitation building. The state guarantee Fund for bonds functions, as emitters project banks-participants act, then the fund lets out guarantees under securities which are got by borrowers. The state guarantee manages in 5 % from the credit sum.

The mortgage is a pledge of real estate for maintenance of obligations to the creditor. At mortgage lending the borrower obtains the credit for purchase of real estate or other purposes. Its obligation to the creditor is credit repayment, and provides execution of this obligation real estate pledge.