Underwriting of Mortgage Back Securities (MBSs) Gets Underway Soon

July 19, 2009;

The underwriting of MBSs is going to start for the first time in Saman Bank.
According to this report released by Saman Bank PR division; all mortgage back securities would be offered in all Saman Bank braches both in Tehran and other provinces for about 2 weeks up to one month with the nominal value of the securities.
The interest of these securities would be payable once quarterly after the owner gives back the relevant coupons attached to the sheets. 
It should be mentioned that the maturity date for the securities whose certificate is being issued by Tehran Security Exchange Organization(SEO) is a 4-year period and the certificates are all nameless.
This report adds; redemption is possible both in early time and maturity date just in the issuer branch.
According to this report, the project has been started by cooperation of Saman Bank Investment and Wealth Management Division with Amin Finance Investment Company sharing an amount of IRR 120 billion.
Experts believe; any expansion of this process within Iran investment market would result in an increase in granting mortgages and subsequently developing the supplies.
Saman Bank has always been a pioneer in designing and offering new services and products in Iran investment market.