Japan's biggest mortgage originator, the Government Housing Loan Corp. (GHLC), recently confirmed plans to issue its first mortgage-backed securities. It will issue 50 billion ($471.5 million) of mortgage-backed securities in the next fiscal year beginning in April, said a GHLC official in Tokyo.

The confirmation was welcomed by securitization pros in Japan, who will hope that the quasi-governmental agency's efforts will help kick-start Japan's dormant mortgage-backed market.

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