Republic Acts1 min read
Section 2Sec./Art. 2
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Declaration of Policy. - It is the policy of the State to promote the development of the capital market by supporting securitizaiton, by providing a legal and regulatory framework for securitization and by creating a favorable market environment for a range of asset-backed securities. For this purpose, the State shall rationalize the rules, regulations, and laws that impact upon the securitization process, particularly on matters of taxation and sale of real estate on installment. Furthermore, the State shall pursue the development of a secondary market, particularly for residential mortgage-backed securities and other housing-related financial instruments, as essential to its goal of generating investment and accelerating the growth of the housing finance sector, especially for socialized and low-income housing.
The State shall likewise pursue the development of a secondary market for other types of asset-backed securities (ABS).
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