“HF bolsters the soundness of housing guarantees for home builders and is implementing better systems designed to offer greater customer convenience."

Housing & Finance (HF, CEO Joo-jae Lim) announced on June 1 that it had improved and had begun implementing the project financing guarantee and construction loan guarantee systems as part of an effort to improve the soundness of housing guarantees for home builders.

To facilitate the improvement, the HF raised the minimum credit rating of eligible home builders two steps from BB- to BB+ for project financing guarantees. HF also expanded the program to cover an additional 100 homes each in cities and major regions. It now covers at least 200 homes in Seoul, 300 in Gyeonggi-do and metropolitan cities, and 400 for other regions. Also, at least 30% of the homes covered must be no larger than the "national housing" average.

To increase access to users, the Seoul Nambu Branch is also now authorized to handle project financing guarantees in addition to the sales department.

In order to increase the supply of guarantee services through the facilitation of housing guarantees for builders, HF now allows for a home builder to be screened when it is a consigner in the case of a general construction loan guarantee. 

HF expects that the improved systems to not only enhance the soundness of the housing guarantees for builders but also increase the availability of guarantee services and make them more convenient for customers to use.