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  • April 19, 2014
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  1. Business - Banking & Finance - SETTLEMENTS

    JP Morgan to pay US$614m in mortgage fraud case

    Posted Feb 05th 2014, 01:29pm by Reuters

    ... Reuters in Washington JP Morgan reaches deal over mortgage fraud case JP Morgan Chase settled the latest in a string of legal claims on Tuesday when it agreed to pay US$614 million to the US government and admitted that it had defrauded federal agencies by underwriting substandard mortgage loans. JP Morgan, the largest US bank by assets, said as part of the settlement ...

  2. News - Hong Kong - PROPERTY

    Homebuyers face squeeze on mortgage payment protection insurance

    Posted Mar 17th 2013, 12:00am by Joyce Ng

    ... Joyce Ng joyce.ng@scmp.com Biggest provider of mortgage protection insurance may further tighten eligibility criteria in light of increase in interest rates Homebuyer payment protection squeezed The Hong Kong Mortgage Corporation may further tighten eligibility for its payment protection insurance on home loans, in light of rising interest rates. When homebuyers take out loans ...

  3. HKMC to set up Shenzhen mortgage insurance joint venture

    Posted Jul 09th 2008, 12:00am by Staff Reporter

    ... Maria Chan The government-run Hong Kong Mortgage Corp (HKMC) will set up a joint venture with a subsidiary of the People's Bank of China in Shenzhen to provide mortgage insurance ... for the HKMC because mortgage turnover had not risen substantially in recent years and not every homebuyer needed to borrow through the mortgage insurance programme. 'The HKMC has expertise ...

  4. Business - Companies - LENDING

    Hitachi Capital lures homebuyers with offer of 95 per cent loans

    Posted Apr 17th 2013, 12:00am by Sandy Li, KANIS LI

    ... insurance on home loans. Currently, homebuyers can secure up to 90 per cent of the price of homes worth HK$4 million or less through mortgage insurance from the HKMC, down from the previous ceiling ... Sandy Li and Kanis Li Homebuyers lured with offer of 95 per cent loans Money lender Hitachi Capital (HK) is teaming up with mortgage broker mReferral to offer home loans of up to 95 per ...

  5. Property - Hong Kong & China - LOANS

    Mortgage insurance market set for boost from HOS

    Posted Dec 05th 2012, 12:00am by Sandy Li

    ... for mortgage insurance Big rises announced by the government last week in the income and asset caps for applicants seeking to buy subsidised housing will create a new market for insured home loans, say ... to buy an HOS home, said Poon Kwok-yuen, managing director of QBE Mortgage Insurance (Asia). To assist such buyers and give lenders some security to provide loans of up to 90 per cent ...

  6. Business - Banking & Finance - BANKING

    Mortgage provisions push RBS further into the red

    Posted Jan 29th 2014, 05:02am by Bloomberg

    ... Bloomberg in London UK lender on track for its largest pre-tax loss since 2008 after setting aside further £3.1b for claims over debt sold in the US housing bubble Mortgage provisions push ... (HK$39.8 billion) for legal and compensation claims. The provision included £1.9 billion for lawsuits and fines tied mostly to the sale of US$91 billion of mortgage-backed securities from 2005 ...

  7. Mortgage insurer extends coverage; end of 95pc loans

    Posted Dec 12th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu Limit raised to 30pc of purchase price amid tighter lending policies The Hong Kong Mortgage Corporation has extended its insurance coverage in response to banks' tighter ... its premiums, shortened the allowable term of the mortgage and tightened its debt-to-income ratios that govern how much buyers can actually borrow. Before the credit crunch, banks were lending ...

  8. Reverse mortgage plan under fire over high insurance fees

    Posted Dec 21st 2010, 12:00am by Charlotte So

    ... Charlotte So The government's proposed reverse mortgage plan, which aims to provide supplementary income for the elderly, has already come under fire because planned monthly insurance premiums are significantly higher than other Asian countries, including South Korea and Singapore. Critics of the plan say the Hong Kong Mortgage Corp (HKMC) has set the insurance premiums ...

  9. News - Property - PROPERTY

    Hong Kong Mortgage Corporation chief hints at price rises in risky property market

    Posted Apr 16th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Head of Mortgage Corporation hints at review of prices to manage firm's exposure to volatility Insurance likely to rise in risky property market Homebuyers may have to pay more for mortgage insurance because the leading provider, the Hong Kong Mortgage Corporation, is looking to offset its risk in guaranteeing their loans in a risky property ...

  10. Business - China Business - Tax

    Reverse mortgages hit estate tax snag

    Posted Oct 03rd 2013, 12:00am by Kwong Man-ki

    ... time". Analysts say the market potential for the reverse mortgage business is huge and officials from the Ministry of Civil Affairs, the China Insurance Regulatory Commission and related ... The lack of substantial participation from the insurance industry so far has also been a drawback. "Insurance companies will be cautious in approving reverse mortgages as it's still ...




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