1 July 2022
Brussels, 1 July 2022 – For immediate release
The European Mortgage Federation (EMF) is proud to announce that as of today is has assumed the Secretariat for the International Secondary Mortgage Market Association (ISMMA).
Established in 2018, the ISMMA is the first global association to bring together secondary mortgage markets institutions to focus on advocacy on regulatory issues, share information, and provide support to newly-established institutions in this space.
The Association provides a platform for member countries to exchange ideas on how to improve access to housing finance for their citizens and ultimately reach the goal of adequate, safe and affordable housing for all. The UN estimates that the global population will reach 8.5 billion by 2030, with almost 60% of the population living in urban centres. An estimated 3 billion people will need new housing and basic urban infrastructure by 2030. Against the backdrop of rapid urbanisation putting pressure on housing delivery systems, many urban poor will not be able to afford formal housing without proper housing finance solutions. This puts the issue of housing finance at the forefront of global development agenda, and the ISMMA seeks to serve as an important platform to envision and design solutions to enhance access to housing finance.
Currently, the ISMMA has 31 member organisations and membership is open to all secondary mortgage market associations around the world. Since its foundation and until 30 June 2022, the ISMMA Secretariat was provided by the World Bank in Washington, D.C.. Over the coming months, the World Bank and the EMF-ECBC will be cooperating to ensure a full transfer of the ISMMA Secretariat functions.
The next ISMMA Meeting will take place in Venice, Italy, on 3-4 October 2022 alongside the Energy Efficient Mortgage Initiative (EEMI) International Sustainable Housing Finance Symposium.
Commenting on the transfer of the ISMMA Secretariat, Luca Bertalot, EMF-ECBC Secretary General said:
“We are living in a rapidly and fundamentally changing world, and now more than ever, housing finance systems around the globe are required to provide strong macroprudential solutions and support policies focused on providing affordable access to sustainable housing. The exchange of best practices, knowledge and know-how is the essence of the ISMMA platform – together we are stronger and can navigate through today’s unchartered waters. The EMF-ECBC is proud to assume the Secretariat of the ISMMA for the next phase in Association’s development and we look forward to building upon the solid foundations put in place by the World Bank over the past four years.”
Oscar Mgaya, Chairman of the ISMMA added:
“The ISMMA is grateful for the support received from the World Bank since its inception and looks forward to collaborating with EMF-ECBC in this new partnership.”
The European Covered Bond Council (ECBC) is the platform that brings together covered bond market participants including covered bond issuers, analysts, investment bankers, rating agencies and a wide range of interested stakeholders.
