Reported 8 months ago
On June 19, 2024, at 4:10 PM, the Ministry of Finance designated Land Bank to convene a meeting with state-run banks to discuss enhancing the management measures for new public housing loans. Three main consensus directions were reached: strengthening the verification of borrower identity, detailed checks for rental activities, and having new borrowers sign an undertaking letter outlining consequences for rule violations. Existing borrowers won't need to sign a new undertaking letter but will undergo more meticulous post-loan management. The Ministry emphasized that while the intention of new public housing loans is good, measures to prevent misuse and strengthen oversight will be implemented to safeguard public interests.
Source: YAHOO