The Hong Kong Mortgage Corporation Limited
The Hong Kong Mortgage Corporation (HKMC) is a public limited company incorporated under the Companies Ordinance and wholly owned by the Government through the Exchange Fund. The HKMC was incorporated in March 1997 with a view to developing Hong Kong's secondary mortgage market. Its business is being developed in two phases. The first phase involves the purchase of mortgage loans for its own portfolio, which it funds largely through the issuance of unsecured debt securities. In the second phase, the HKMC securitises mortgages into Mortgage Backed Securities and offers them for sale to investors.