The article discusses how mortgage liquidity facilities can benefit mortgage markets by providing stability and confidence. It outlines the conditions needed for these facilities to work effectively and the techniques used to secure mortgage collateral. The importance of regulation and corporate governance in building trust in these facilities is emphasized. Examples from various countries are provided to illustrate the role of liquidity facilities in developing mortgage markets. Overall, mortgage liquidity facilities can serve as a crucial intermediary in emerging mortgage markets where more advanced options like securitization are not yet feasible.