عملية تسنيد الديون الرهنية و دورها في ضمان حقوق الدائن المرتهن

الملخص EN

Law No.

10.98 is considered the first law related to mortgage loan securitization operations, in addition to being the first building block through which the mortgage market was established in Morocco, as the possibilities of financing expanded through this type of loans, so this law came within the framework of reforming the housing finance system that It is part of the strategy to strengthen the partnership between the public and private sectors.

This research paper aims to highlight the most important aspects of the Moroccan experience in the field of securitization operations in terms of the legal and institutional aspect, by reviewing the various operations that are implemented, especially after the amendment of Law 10.98 and the issuance of Law No.

Mortgage, as it is converted by an independent company called the “Security Collective Employment Fund” into securities, which is created at the initiative of a lending institution called the “Initiative Institution” and a marching institution such as the Deposit and Management Fund.

This, in addition to addressing the various parties involved in this type of operation, by following a descriptive analytical approach and presenting the various statistics related to the subject of the research.

At the conclusion of this research, a set of important results were reached, for which we proposed several practical proposals that would be taken to overcome the legal loopholes and the legislative deficiency that dictated some of the requirements of securitization laws.