Hong Kong Mortgage Corp
Established in 1997, the Hong Kong Mortgage Corporation Ltd, is wholly owned by the Hong Kong Special Administrative Region (HKSAR) Government through the Exchange Fund. Its mandate is to enhance banking stability through offering a reliable source of liquidity, promoting wider home ownership in Hong Kong and helping with the development of Hong Kong’s debt securities market, including mortgage-backed securities.
It may be the effect of 10 years as part of a socialist state, but Hong Kong government officials have decided to go into business, and they are doing so on an international scale.Thursday, 3 January, 2008, 12:00am
Government-run Hong Kong Mortgage Corp is expanding its mortgage insurance services to cover loans secured by non-owner occupied residential properties.
The firm, which launched the Hong Kong Mortgage Corpprogramme in 1999, until now only offers cover for a second mortgage to homebuyers for their own residential use.29 Dec 2007 - 12:00am
The government-run Hong Kong Mortgage Corp might complete its first overseas mortgage-asset acquisition in South Korea as early as this week, sources said.
The agency was in final negotiations to acquire about US$700 million worth of mortgage assets from a bank in Korea, a source said.25 Dec 2007 - 12:00am
'The mortgage agency has been talking to the Office of the Privacy Commissioner for Personal Data ... for more than two years to find ways to ease data sharing, but so far no solution has been found.'
SCMP, August 13, 200714 Aug 2007 - 12:00am
Hong Kong homebuyers may cut the cost of top-up insurance to cover mortgage loans exceeding 70 per cent of the purchase price of their homes if they let the government-owned insurance provider, the Hong Kong Mortgage Corp, check their credit records.
Only banks may access the data kept by TransUnion Asia, operator of the personal positive credit data bureau.13 Aug 2007 - 12:00am
The Hong Kong Mortgage Corp, a government-owned agency to promote the home loan market, would sell bonds linked to the interbank market rate to retail investors for the first time next week, market sources said.3 Mar 2007 - 12:00am
The Hong Kong Mortgage Corp, a government-owned agency set up to bolster the home loan market, plans to sell as much as HK$1 billion in retail bonds as early as next month, according to chief executive James Lau.13 Feb 2007 - 12:00am
The Hong Kong Mortgage Corp has so far received more than HK$800 million of orders for its retail bonds, according to sources.
That was at the upper end of the HKMC's target of HK$700 million to HK$800 million, including HK$600 million that HSBC and Bank of China agreed to underwrite.
Subscription will end at 2pm today.12 Sep 2006 - 12:00am
Bankers say investors used to earning interest from fixed-income products may be difficult to attract
The Hong Kong Mortgage Corp, a government-owned agency to promote the home loan market, plans to sell at least HK$700 million bonds to retail investors, including a first-ever zero-coupon tranche offered in the city.2 Sep 2006 - 12:00am
The Hong Kong Mortgage Corp, a government-owned home loan insurance provider, reported a 4.2 per cent dip in net profit for the first six months, mainly hit by the reduction of interest income and lack of provision write-backs.29 Jul 2006 - 12:00am
The Hong Kong Mortgage Corp (HKMC) is considering buying home loans on the overseas markets, including mortgage loans offered in the mainland, to boost its loan portfolio, according to sources close to the corporation.26 Apr 2006 - 12:00am
Selling the advantages to both bankers and homebuyers of the new lending benchmark calculated by the Hong Kong Monetary Authority - the composite interest rate - is proving an uphill battle.6 Apr 2006 - 12:00am
Mortgage agency seeks partnership with banks to test the market for new plan
Hong Kong Mortgage Corp (HKMC) may soon raise funds by issuing bonds using a composite rate for future mortgage products, according to sources.
'It is likely HKMC will issue a bond which would be priced against a composite rate (c-rate),' a source said.20 Mar 2006 - 12:00am
Verifications may allow corporation to offer range of flexibly priced mortgage insurance products
Government-owned home loan insurance provider Hong Kong Mortgage Corp (HKMC) is considering whether to introduce a credit-scoring system aimed at expanding its products into a wider market and cutting the cost of mortgage insurance to customers with good credit track records.3 Aug 2005 - 12:00am
Scheme is not viable because of lack of demand due to low payout to borrowers
The Hong Kong Mortgage Corp (HKMC) has put plans to launch a 'reverse mortgage' scheme on hold due to lack of demand, the South China Morning Post understands.29 Jul 2005 - 12:00am