{"id":628936,"date":"2018-05-17T04:11:41","date_gmt":"2018-05-17T04:11:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/"},"modified":"2018-05-17T04:11:41","modified_gmt":"2018-05-17T04:11:41","slug":"house-signs-off-on-social-housing-and-mortgage-finance-support-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/","title":{"rendered":"House signs off on Social Housing and Mortgage Finance Support Act"},"content":{"rendered":"<p><strong>LEGISLATION WATCH- House signs off on Social Housing and Mortgage Finance Support Act: <\/strong>The House of Representatives signed off on the <a href=\"https:\/\/enterprise.press\/stories\/2017\/12\/27\/capital-markets-act-amendments-to-move-to-plenary-session-soon-nasr\/\">Social Housing and Mortgage Finance Support Act<\/a> during its plenary session yesterday, Housing Minister Mostafa Madbouly <a href=\"https:\/\/www.alborsanews.com\/2018\/05\/16\/1105788\">reportedly said<\/a>. Under the new law, the Social Housing Fund and the Mortgage Finance Fund will be merged into a single entity to streamline mortgage financing procedures, according to the minister. The law also sets a framework for the pricing of land and state-subsidized housing, as well as the services that residents in those projects have access to. The law enshrines citizens\u2019 rights to access safe and affordable housing and supports a government-led, countrywide urban development plan, according to Mortgage Finance Fund Chairman Mai Abdel Hamid.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- House signs off on Social Housing and Mortgage Finance Support Act: The House of Representatives signed off on the Social Housing and Mortgage Finance Support Act during its plenary session yesterday, Housing Minister Mostafa Madbouly reportedly said. Under the new law, the Social Housing Fund and the Mortgage Finance Fund will be merged [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628936","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ffe4be13-5512-49ce-8714-fecedc93f6f7","order":"0","is_powered_by":true,"section_story_id":"fe8ff40c-03e7-4a5d-8417-c5fcf78806f4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628925],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>House signs off on Social Housing and Mortgage Finance Support Act - 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\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House signs off on Social Housing and Mortgage Finance Support Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- House signs off on Social Housing and Mortgage Finance Support Act: The House of Representatives signed off on the Social Housing and Mortgage Finance Support Act during its plenary session yesterday, Housing Minister Mostafa Madbouly reportedly said. Under the new law, the Social Housing Fund and the Mortgage Finance Fund will be merged [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-17T04:11:41+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House signs off on Social Housing and Mortgage Finance Support Act\",\"datePublished\":\"2018-05-17T04:11:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\"},\"wordCount\":134,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/17\/house-signs-off-on-social-housing-and-mortgage-finance-support-act\/\",\"name\":\"House signs off on Social Housing and Mortgage Finance Support Act - 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The bill was then toned down to allow\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":573224,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/26\/egypts-cabinet-approves-usd-500-mn-housing-facility-from-the-world-bank\/","url_meta":{"origin":628936,"position":1},"title":"Egypt\u2019s cabinet approves USD 500 mn housing facility from the World Bank","author":"enterpriseam admin","date":"26 July 2020","format":false,"excerpt":"CABINET WATCH- Cabinet greenlights USD 500 mn World Bank housing facility extension: The Madbouly Cabinet ratified in its meeting last Wednesday a USD 500 mn extension to a World Bank facility as part of a program to improve access to low-income housing and bolster the state\u2019s Social Housing Mortgage Finance\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":623292,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/housing-ministry-cbe-look-to-expand-mortgage-finance-fund-by-egp-10-bn\/","url_meta":{"origin":628936,"position":2},"title":"Housing Ministry, CBE look to expand Mortgage Finance Fund by EGP 10 bn","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"The Housing Ministry is in talks with the CBE to extend the EGP 20 bn Mortgage Finance Fund with an additional EGP 10 bn tranche, deputy Housing Minister Khaled Abbas tells Al Mal. The current tranches are expected to be disbursed by year-end. The fund seeks to boost financing the\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566532,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/24\/middle-income-homebuyers-are-now-eligible-for-shorter-mortgage-terms\/","url_meta":{"origin":628936,"position":3},"title":"Middle-income homebuyers are now eligible for shorter mortgage terms","author":"enterpriseam admin","date":"24 June 2021","format":false,"excerpt":"Gov\u2019t cuts minimum mortgage terms in CBE mortgage programs: The minimum term for home mortgages under CBE-supported home lending programs was reduced to five years from a previous seven years, according to a decision by state-run Social Housing and Mortgage Finance Fund. The move is meant to help homeowners making\u2026","rel":"","context":"In &quot;SPEED ROUND: WELFARE&quot;","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":574996,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/concentration-risk-regs-relaxed-for-egypts-mortgage-lenders\/","url_meta":{"origin":628936,"position":4},"title":"Concentration risk regs relaxed for Egypt\u2019s mortgage lenders","author":"enterpriseam admin","date":"29 September 2020","format":false,"excerpt":"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). 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