Introduction. In Russia, the mortgage system is still under development. Important role in the development of mortgage undoubtedly plays Mortgage Agency, which determines the relevance of the chosen research topic. Methodology. Mortgage – secured by real property, i.e. relationship to ensure performance of the principal obligation by providing the mortgagee in the event of nonperformance or improper performance by the debtor of the principal obligation of the preemptive right to meet their demands by collateral. Results. Russian state assumes all the risks of mortgage loans through the use of a secondary mortgage market schemes: a mortgage loan granted by commercial banks, and then sold the state organization – the Agency for Housing Mortgage Lending. HMLA financed mortgage loans by issuing its own debt (usually for 30 years), guaranteed by the state, that is attracted to finance mortgages cheapest resources that can be found on the market. Conclusion. Creation and development of mortgage lending will not only help improve the living conditions of citizens, but will also help create a stable banking system.