Stronger housing finance support for borrowers with poor credit but recent good payment patterns
- Date 2016-01-29
- Views 603
for borrowers who have shown recent good payment patterns* among those in a credit repair program.
* Those who are participating in a credit repair program run by a credit repair agency and have made at least
24 on-time payments on their debt
□ HF signed an official partnership agreement with the Credit Counseling and Recovery Service (CCRS), a state-
run credit repair organization, on March 29, 2016, to improve access to housing finance for those with poor
credit who are unable to obtain financing from banks and other formal lending institutions. <see the image
below>
□ Under the partnership agreement, CCRS will send a list of those with good payment records, and HF will
provide them quick and smooth access to housing finance solutions after interviewing them.
□ HF CEO Kim Jae-Chun said at the signing ceremony, “As part of our efforts to fulfill the Government 3.0 task
of ensuring housing stability through collaboration with other public agencies, we will go out of our way to
find those in need of our services, thereby expanding and improving the coverage of our services.”
□ CCRS Chairman Kim Yun-Young said, “Through our partnership with HF, we will fully support people with poor
credit but recent good payment records to get back on a more stable financial footing.”
<Image Description>
On March 29, 2016, HF signed a partnership agreement with CCRS to provide easy access to housing finance
services for those in a credit repair program. HF CEO Kim Jae-Chun (fourth from the right) poses for a photo
with CCRS Chairman Kim Yun-Young (fifth from the right) after the signing ceremony.