Accumulative Mortgage System of Housing Provision for Military Personnel in Russia: Problems and Solutions

In the development of the system of housing mortgage lending (HML), one of the main tasks of the state is to create a modern legislative framework and regulate the ongoing processes at the level of regulatory impact in order to reduce financial risks for its participants. The state acts as a regulator of mortgage relations, creates a legal basis for ensuring the most productive interaction between participants in the mortgage lending process, exerts a direct or indirect impact on them, and due to this, to attract new private investments into the housing sector, assists in the purchase of housing for various categories of the population. In the entire state housing policy, the formation of a modern HML system is one of the priority issues. Mortgage lending has a multifactorial impact on government development. At the same time, it is worth noting the positive impact of the development of the mortgage business on the real sector of the economy industry, agriculture, construction, etc. World practice shows that the investment crisis can be overcome through the spread of mortgage lending, since this is an effective way to finance capital investments. This article provides a comprehensive analytical review of the application of economic and legal tools for managing the accumulative mortgage system for different categories of citizens. Based on the results of their comparison, shortcomings were identified in order to further determine the promising directions of its development. Keywords—authorities, housing, mortgage, savings account, status of military personnel, targeted housing loans