Secondary Mortgage Corporation (SMC) was established in 1997 under the Emergency Decree of Secondary Mortgage Corporation with its initial capital of Baht 1,000 million. SMC is a state enterprise financial institution under the Ministry of Finance with its major objective to develop the secondary market for housing mortgage loan under the principal of asset securitization for fund raising activities for the adequate and stable expansion of housing mortgage financing, and to expand lending activities of housing loan market and establish mortgage stability in real estate sector and the country economic security.