Mortgage momentum
Malaysian national mortgage corporation, Cagamas, was set up to boost liquidity in the country's home loans market. It has emerged as a securitisation and Islamic finance pioneer. Chief executive Steven Choy speaks to Georgina Lee
Cagamas was set up in the mid-1980s to provide liquidity in the mortgage market. How has its operating model evolved?
When we were established in 1986, we followed a model to provide liquidity and funding to the banking sector. That's because in 1986-1987, there was a credit and liquidity crunch in the Malaysian banking sector and Malaysian banks could not extend as many long-term mortgages as they wanted. They needed a secondary mortgage market where they could sell on the mortgage loans to
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