{"id":574996,"date":"2020-09-29T04:08:02","date_gmt":"2020-09-29T04:08:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/"},"modified":"2020-09-29T04:08:02","modified_gmt":"2020-09-29T04:08:02","slug":"concentration-risk-regs-relaxed-for-egypts-mortgage-lenders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/","title":{"rendered":"Concentration risk regs relaxed for Egypt\u2019s mortgage lenders"},"content":{"rendered":"

<\/a> REGULATION WATCH- Mortgage finance companies can now lend up to 15% of<\/strong> their capital base to an individual household<\/strong>, up from 10% previously, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf)<\/a>. Data has shown that most families opt for mortgages to purchase larger homes in state-sanctioned social housing projects, but smaller mortgage finance players were unable to hand out loans for these purchases without exceeding the original limit. Mortgage finance players will also be able to dole out up to 30% of their capital to households seeking mortgages for non-residential properties, up from a previous 20%, Omran added. The authority decided to scale back the restrictions on portfolio concentration for mortgage providers after reviewing this data and the regulations with the Egyptian Mortgage Federation<\/a>.<\/p>\n

Other restrictions for mortgage lenders: <\/strong>Under the executive regulations of the Mortgage Finance Act, mortgage lenders are only allowed to take on debt up to 25x their equity base as a risk management precaution, and maintain a capital adequacy ratio<\/a> of 12% and a level of liquidity of no less than 10% of current liabilities, Omran said.<\/p>\n

The FRA also approved in principle the creation of a \u201creal estate guarantee registry\u201d<\/strong> through an amendment to the Mortgage Finance Act, Omran announced<\/a>. The registry will be administered by the regulator and will contain information on real estate transactions, including data on guarantee providers and any write-offs made by financiers, to better protect all parties involved.<\/p>\n

In other mortgage finance news: Heirs can now claim ownership of social housing applications <\/strong>submitted by deceased individuals before their death<\/strong>, under new Housing Ministry rules cited by Al Shorouk<\/a>. This is a new service introduced through the Mortgage Finance Fund\u2019s online portal<\/a>, which also now allows homebuyers to submit proof they\u2019ve paid installments in case their lenders suspend credit due to outstanding payments.<\/p>\n","protected":false},"excerpt":{"rendered":"

REGULATION WATCH- Mortgage finance companies can now lend up to 15% of their capital base to an individual household, up from 10% previously, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). Data has shown that most families opt for mortgages to purchase larger homes in state-sanctioned social housing projects, but smaller […]<\/p>\n","protected":false},"author":1,"featured_media":574997,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[7106,72,76,963,2061,343,3727,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-debt","tag-enterpriseam","tag-financial-regulatory-authority","tag-law","tag-mortgage-finance","tag-regulation","tag-risk-management","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a23d924c-1098-4ae9-bf4c-0f0de37c3db7","is_powered_by":true,"section_story_id":"fb2ebb09-c20e-4f03-a50b-e1c437a8248d","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/313.jpg","photo_position":"above","related_issue":[574982],"teaser":"","voice_url":""},"yoast_head":"\nConcentration risk regs relaxed for Egypt\u2019s mortgage lenders - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Concentration risk regs relaxed for Egypt\u2019s mortgage lenders\" \/>\n<meta property=\"og:description\" content=\"REGULATION WATCH- Mortgage finance companies can now lend up to 15% of their capital base to an individual household, up from 10% previously, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). Data has shown that most families opt for mortgages to purchase larger homes in state-sanctioned social housing projects, but smaller […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-29T04:08:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/313.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Concentration risk regs relaxed for Egypt\u2019s mortgage lenders\",\"datePublished\":\"2020-09-29T04:08:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/313.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"law\",\"mortgage finance\",\"regulation\",\"risk management\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/\",\"name\":\"Concentration risk regs relaxed for Egypt\u2019s mortgage lenders - 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Any agreement between\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599887,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/ci-capital-plans-to-launch-mortgage-financing-unit-by-early-2q2019\/","url_meta":{"origin":574996,"position":1},"title":"CI Capital plans to launch mortgage financing unit by early 2Q2019","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"CI Capital plans to launch mortgage financing arm by early 2Q2019: CI Capital has submitted a request to the Financial Regulatory Authority for a mortgage financing license, Co-CEO Hazem Badran said in an interview on the sidelines of the CI Capital MENA Investors Conference. The investment bank expects to get\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636874,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/02\/efsa-planning-changes-to-regs-on-treasury-shares-mortgage-finance\/","url_meta":{"origin":574996,"position":2},"title":"EFSA planning changes to regs on treasury shares, mortgage finance","author":"enterpriseam admin","date":"2 November 2017","format":false,"excerpt":"EFSA planning changes to regs on treasury shares, mortgage finance: The Egyptian Financial Supervisory Authority (EFSA) is apparently still planning on making further changes to EGX regulations, this time with treasury stocks. 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The move is meant to help homeowners making\u2026","rel":"","context":"In "SPEED ROUND: WELFARE"","block_context":{"text":"SPEED ROUND: WELFARE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-welfare\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573917,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-stress-test-shows-strength-of-egypts-nbfs-institutions-says-omran\/","url_meta":{"origin":574996,"position":4},"title":"FRA stress test shows \u201cstrength\u201d of Egypt\u2019s NBFS institutions, says Omran","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"FRA stress test shows \u201cstrength\u201d of NBFS institutions, says Omran: The FRA put out astatement yesterday on the results of its first stress test on the impact of covid-19 on the non-banking financial services sector. The test, which was conducted earlier this year to gauge the impact of macroeconomic crises\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/178.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568791,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/central-bank-of-egypt-to-launch-mortgage-finance-program-in-march\/","url_meta":{"origin":574996,"position":5},"title":"Central Bank of Egypt to launch mortgage finance program in March","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"CBE to launch mortgage finance program next month: The Central Bank of Egypt (CBE) is finalizing its mortgage finance program with several banks ahead of launching it in March, Mubasher reports, citing unnamed sources in the know. 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