HF Signs MOU for Improved Housing Finance in Asia
- Date 2019-03-13
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HF Signs MOU for Improved Housing Finance in Asia
- HF reaches MOU with the state-run housing finance agencies of Kyrgyzstan and Armenia
- Under the MOU, HF shares its know-how on state-sponsored mortgages, securitization, and other housing finance services
Korea Housing Finance Corporation(HF, CEO Lee Jung-Hwan) stated on March 13, 2019, that it signed a memorandum of understanding (MOU) with Kyrgyzstan’s State Mortgage Company (SMC)* for the development of housing finance services, including state-sponsored mortgages and securitization, at the office building of the Kyrgyz Ministry of Economy, on March 12, 2019 (local time).
* State Mortgage Company (SMC) is a state-run housing finance agency established in 2015 under the Kyrgyz Ministry of Economy. The primary goal of SMC is to supply mid- to long-term mortgage loans and boost the mortgage-backed securities market, thereby promoting the housing welfare of the Kyrgyz people.
HF is going to visit and reach an MOU with Armenia’s National Mortgage Company (NMC)* on the 14th to cooperate in the areas of state-sponsored mortgages and MBS issuance.
* National Mortgage Company (NMC) is a state-run housing finance agency established in 2009 under the Central Bank of Armenia to enhance the housing welfare of the Armenian people through mortgage refinancing.
Under the MOUs, HF, SMC, and NMC pledge cooperation and exchanges in various areas of housing finance, including ▲ sharing knowledge on state-sponsored mortgage lending, MBS issuance, and underlying asset management and ▲ holding joint seminars, conferences, and workshops.
An HF official said, “The MOUs will help us continue to expand our cooperation and exchanges with the agencies. HF is set to share our housing finance experiences and know-how with them through ongoing exchanges, such as inviting them for training and transferring our housing finance techniques to them.”
Beginning with its MOU with its counterpart in the Philippines in 2015, HF has signed MOUs with the housing finance agencies of six Asian countries, including Thailand and Indonesia, for international cooperation.
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Korea Housing Finance Corporation (HF) reached an MOU with SMC of Kyrgyzstan for the advancement of the housing finance market at the office building of the Kyrgyz Ministry of Economy on the 12th. HF CEO Lee Jung-Hwan (left) poses for a photo after signing the MOU.
