Abstract: The article is devoted to the stages and trends in the development of the mortgage lending market under crisis. In this article the authors analyze development trends with today's mortgage lending market in Russia, describe three periods of the mortgage lending market development (2008 - 2009, 2010 - 2014, and 2015 - up to the present day), and compare the aforesaid periods; and offer measures that are supposed to take the mortgage lending out of crisis. The results of the analysis demonstrate that the situation with the mortgage lending market in Russia which had already started in 2008 reached its climax in 2015. The main feature of the current stage of crisis is to decline in income and economic activity and, consequently, paying capacity of actual and potential mortgage borrowers taking into account the breakdown of external financing of the banking system and fast inflation rate. To achieve the research objective and substantiate theoretical provisions and practical recommendations, the authors of the article have used the abstract-logical, analytical, comparative, economic statistical research methods and comparative analysis using official banking statistics. As a result, the authors have obtained statistically valid data about development trends of the mortgage lending market in Russia at different stages and define the biggest areas of concern, describe peculiarities of the current stage and outline the main ways to take the morgage lending market out of crisis. Taking into account the country's actual financial capacities, it is necessary to undertake measures that do not require a radical reconstruction of economic mechanisms or considerable budget costs. These measures include improving mortgage programs so that they do not increase credit risks but ensure availability of mortgage lending for broad layers of the country's population; changing the format of mortgage lending towards creation of credit unions; and increasing efficiency of the government monetary policy in the sphere of mortgage lending through finding the balance between tools and instruments thereof.