S.Korea's MBS issuance posts double-digit fall in Q1

Source: Xinhua | 2019-04-30

The issuance of mortgage-backed securities (MBS) in South Korea posted a double-digit fall in the first quarter on the government's efforts to control speculative investment in the property market, financial watchdog data showed Monday.
The sale of MBS, issued by the state-run Korea Housing Finance Corp. (KHFC) to securitize the home-backed debts owed by households to lenders, amounted to 4.8 trillion won (4.1 billion U.S. dollars) in the January-March quarter, down 12.7 percent from a year earlier, according to the Financial Supervisory Service (FSS).
The double-digit reduction came as the mortgage loan reduced on the government's measures to curb speculative investment in the real estate market.
Including the MBS, the sale of asset-backed securities (ABS) dipped 5.8 percent over the year to 9.8 trillion won (8.5 billion U.S. dollars) in the March quarter.