Reported 12 months ago
In Taipei, on June 27, 2024, the Ministry of Finance demanded state-owned banks to rigorously enforce post-loan management of the New Qingshan Affordable Housing Loan. Banks will conduct thorough investigations to identify high-risk cases among existing clients, using government data to cross-check for violations of the loan regulations. They will look for indications of phantom household accounts by verifying if the address provided as collateral matches the client's actual residency. Those found in violation will face consequences such as increased interest rates, shortened grace periods, adjustments in loan conditions, and more. These measures aim to prevent speculative activities and loan applications using phantom household accounts. The banking sector is taking steps to prevent investment clients from market speculation and loan applications using phantom household accounts. These measures include scrutinizing cases such as developers, agents, or intermediaries applying for loans under various guises.
Source: YAHOO