About Us

The secondary mortgage market is the backbone of the housing finance ecosystem, driving accessibility and affordability in the housing sector. Secondary mortgage corporations play a crucial role in promoting homeownership and providing avenues for affordable housing and lower financing costs. Being a financial intermediary, secondary mortgage corporations have helped increase the variety of innovative financial products in the debt capital market. The Asian Secondary Mortgage Market Association (ASMMA) is a non-profit, member-driven organisation that is open to all secondary mortgage corporations in Asia. ASMMA provides a platform for collaboration, innovation, and advocacy for the growth and development of the housing finance industry.

ASMMA was inaugurated on 30 September 2014, at the Asian Secondary Mortgage Corporation (ASMC) Roundtable Meeting held at Bank Negara Malaysia (BNM), Kuala Lumpur, Malaysia by five secondary mortgage corporations:

• Cagamas Berhad (Malaysia)
• Japan Housing Finance Agency (Japan)
• National Home Mortgage Finance Corporation (Philippines)
• PT Sarana Multigriya Finansial (Indonesia)
• Secondary Mortgage Corporation (Thailand)

The leadership of ASMMA is anchored in a rotating Chairmanship that is held for a one-year term. This ensures a dynamic and inclusive governance. Each calendar year, the Chairman is selected by consensus among the Members.

The current 2024 ASMMA Chairmanship is held by Pakistan Mortgage Refinance Company (PMRC).

The Member serving as Chairman will also assume the responsibilities of the Secretariat, overseeing the day-to-day operations and strategic initiatives of the Association during their tenure.