Law for the Development of the Mortgage Market and the Creation of Trust (No. 189-11)

Dominican Republic

(Spanish)

The purpose of the Law for the Development of the Mortgage Market and the Creation of Trusts is to create the necessary legal structures in order to develop the Dominican mortgage market, by channeling resources from voluntary or compulsory savings towards long-term financing for hous­ing and general construction, improving the capital markets by expanding the opportunities available for institutional investors and encouraging the use of debt instruments to facilitate such channeling of funds, which together with the creation of special fiscal incentives, state contributions and economies of processes, serve to promote housing projects, especially low cost housing, thus alleviating the housing shortage in the Dominican Republic.