Article 5-2. The activity of the mortgage organization of the Real Estate Mortgage Act

Home / RLA / Article 5-2. The activity of the mortgage organization of the Real Estate Mortgage Act

1. The main activity of a mortgage organization is the provision of a mortgage bank loan based on a license from an authorized body for bank loan operations.

2. The mortgage organization has the right to carry out the following additional operations:

1) trust operations: management of claims on mortgage bank loans in the interests and on behalf of the principal;

2) factoring operations: acquisition of the rights to demand payment from the buyer of goods (works, services) with acceptance of the risk of non-payment;

3) forfeiting operations (forfetting): payment of the debt obligation of the buyer of goods (works, services) by purchasing a promissory note without turnover for the seller;

4) leasing activities.

3. The procedure for issuing, suspending and revoking a mortgage organization's license is established by regulatory legal acts of the authorized body.

4. A mortgage organization has the right to carry out the following types of activities:

1) investment activity subject to the restrictions provided for in paragraph 6 of this Article;

2) the implementation of special literature on mortgage lending on any type of media;

3) sale of own property;

4) the sale of pledged property in accordance with the procedure established by the legislation of the Republic of Kazakhstan;

5) provision of consulting services on issues related to its activities;

6) issue and placement of securities, including bonds;

7) implementation of specialized software used to automate the activities of mortgage organizations;

8) organization and conduct of training in order to improve the skills of specialists in the field of mortgage lending.

4-1. A single housing construction operator, along with the activities and operations provided for in paragraphs 1, 2, 4 and 5 of this Article, has the right:

1) provide loans to an authorized organization designated in accordance with the Law of the Republic of Kazakhstan "On Equity Participation in Housing Construction" and to legal entities engaged in construction under state housing construction programs;

IZPI's note! Paragraph 4-1 is provided to be supplemented with subparagraph 1-1) in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 204-VIII (effective sixty calendar days after the date of its first official publication).

1-1) carry out bank loan operations: provision of loans on the terms of payment, urgency and repayment for the acquisition of a share in the field of equity participation in housing construction, which is the collateral for this loan, in an apartment building under construction or a complex of individual residential buildings that has received an agreement on the provision of guarantees of equity participation in housing construction in accordance with the Law of the Republic of Kazakhstan "On Equity participation participation in housing construction";

2) carry out activities provided for by the legislation of the Republic of Kazakhstan on equity participation in housing construction, on architectural, urban planning and construction activities, other regulatory legal acts of the Republic of Kazakhstan and the charter.

5. A mortgage organization has the right to use sources of financing that are not prohibited by the legislation of the Republic of Kazakhstan to ensure its activities.

6. It is prohibited for a mortgage organization to acquire shares in the authorized capitals or shares of legal entities, except in cases of acquisition of shares in the authorized capitals or shares:

1) financial organizations;

2) legal entities that are not financial organizations, whose shares are included in the list of the stock exchange operating in the territory of the Republic of Kazakhstan, according to the highest listing category;

3) legal entities that automate the activities of mortgage organizations.

The requirement provided for in the first part of this paragraph does not apply to a Single Housing Construction Operator.

IZPI's note! Article 5-2 is provided to be supplemented by paragraph 7 in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

7. Mortgage organizations submit reports to the National Bank of the Republic of Kazakhstan in accordance with the regulatory legal act of the National Bank of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated December 23, 1995.

President

Republic of Kazakhstan

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