14.03.19
Memorandum of Understanding Signed between National Mortgage Company and Korea Housing Finance Corporation
Memorandum of Understanding Signed between National Mortgage Company and Korea Housing Finance Corporation Yerevan, March 14 National Mortgage Company RCO CJSC and Korea Housing Finance Corporation have signed a memorandum of understanding (MoU) today, with a purpose of joint development of Armenia’s and Korea’s housing finance markets. MoU was signed by Executive Director of the National Mortgage Company Edmond Vardumyan and President and Executive Director of Korea Housing Finance Corporation Jung Hwan Lee. The main purpose of the MoU is to commence a cooperation in the areas of housing finance and mortgage market, based on joint research and exchange of knowledge developed on the topics of general concern. The National Mortgage Company has been consistently developing its product inventory to comply with the growing standards of the industry and world’s best practices, Company’s Executive Director Edmond Vardumyan said at the official signing ceremony that took place at the Central Bank of Armenia. Republic of Korea is incomparably far in the lead in use and application of financial instruments in the field of mortgage market and cooperation shall help to learn from the successful model. According to Korea Housing Finance Corporation Executive Director Jung Hwan Lee, no country has been able to manage all its issues on its own and the exchange of knowledge will facilitate the implementation of companies’ mission, national welfare and economic development of both nations. Korea Housing Finance Corporation was established in 2004 by the government with the aim to support Korea republic’s housing welfare. The Corporation implements 4 main functions – mortgage finance, securitization, credit guarantees for the housing finance and support through reverse guarantees for senior citizens. National Mortgage Company was established in 2009 by the Central Bank of Armenia to support the development of mortgage market and broaden the access to housing finance in Armenia. The Company refinances acquisition, renovation and construction of residential housing. The Company presently cooperates with German KfW bank group, French Development Agency, Black Sea and Development Bank and other international institutions.
14.03.19
Alert on Consumer Rights Protection
When considering to buy an apartment at buildings that are in process of construction or yet to be constructed, please pay attention to the following circumstances. It is a world practice to pay attention to the stage of completion to avoid possible financial losses in the future. We also call you not to commit prepayment or downpayment without signing a contract and checking the availability of all the proper documentation (project design and construction permits, etc). Failure to follow the abovementioned precautions may result in considerable risks of financial losses for potential home buyers as they bear all the risks in case the building construction remains unfinished or incomplete: We also inform that National Mortgage Company periodically reviews the lending terms of its programs to make the loan products more favorable and accessible for population (irrespectively of profession, age, etc). In particular, • The required downpayment may amount to 7,5% (instead of 30%), if the borrower is unmarried person below 30-years-old and the apartment is acquired at the primary market. In this case the required loan security should include a second collateral or insurance coverage for the difference of prepaid 7.5% and 30%: • Or the downpayment may amount to 10% for all the other borrowers, and the apartment may be acquired both from the primary and secondary markets. In this case the insurance should cover the difference of prepaid 10% and 30%. In the framework of its operations, National Mortgage Company refinances only loans that qualify the standards of NMC. These standards are primarily designed to protect the rights of buyers-borrowers.
04.02.19
Request for Price Proposal for Acquisition of HPE ProLiant ML350 Gen10 Server
Request for Price Proposal for Acquisition of HPE ProLiant ML350 Gen10 Server
24.08.18
NMC signed MLAs with ‘‘Evocabank’’ CJSC and ‘‘Armeconombank’’ OJSC in the framework of Housing Finance program, 4th phase financed by German KfW bank
On 28th of August, 2018 National Mortgage Company signed MLAs with ‘‘Evocabank’’ CJSC and ‘‘Armeconombank’’ OJSC in the framework of Housing Finance program, 4th phase financed by German KfW bank.
29.01.18
On January 26, 2018 the Company and "Fast Credit Capital" UCO CJSC signed Master Loan Agreements of Cooperation.
On January 26, 2018, within the framework of refinancing of mortgage loans and "Jerm Ojakh" Program, the Company and "Fast Credit Capital" UCO CJSC signed Master Loan Agreements of Cooperation. At present, the Company cooperates with 16 banks and 7 credit organizations.
01.02.17
On Februariy 1, 2017 Housing Finance program, 4th phase was launched
The official opening ceremony/event of Housing Finance program, 4th phase, which is held under financial cooperation of Armenia and Germany, and financed by German KfW bank, took place on February 1, 2017, in Yerevan "Erebuni Plaza" Business center. Representatives from Program PFIs, German Embassy in Armenia, Central Bank of RA, international organizations, state governing institutions, producers and importers of EE materials and equipment and constructing companies were taking part at the ceremony, which was organizes by National Mortgage Company. Despite the former phases of Housing Finance program, this phase has its special target, which is to increase loans affordability in regions and to develop EE housing finance in Armenia. As mentioned by Mr. Hayk Voskanyan, the CEO of National Mortgage Company, the major part of the resources are intended to finance specially developed target products.
13.01.17
National Mortgage Company signed MLAs with 5 Banks and 3 credit organizations in the framework of Housing Finance program, 4th phase financed by German KfW bank.
On 29th of December, 2017 National Mortgage Company signed MLAs with 5 Banks and 3 credit organizations in the framework of Housing Finance program, 4th phase financed by German KfW bank. The list of eight Partners is presented below. 1. "Acba-Credit Agricol Bank" CJSC 2. "First Mortgage Company" UCO LLC 3. "Ardshinbak" CJSC 4. "Global Credit" UCO CJSC 5. "Inekobank" CJSC 6. "Kamurj" UCO CJSC 7. "Converse Bank" CJSC 8. "Armbusinessbank" CJSC
13.01.17
On 27th of December, 2017 NMC signed MLA with "Artsakhbank" CJSC in the framework of "Jerm Ojakh" Programe
On 27th of December, 2017 NMC signed MLA with "Artsakhbank" CJSC in the framework of "Jerm Ojakh" Program.
13.01.17
On 14th of December, 2017 MLA signed between NMC and "First Mortgage Company" UCO LLC in the framework of "Jerm Ojakh" Program was terminated
On 14th of December, 2017 MLA signed between NMC and "First Mortgage Company" UCO LLC in the framework of "Jerm Ojakh" Program was terminated.
28.11.16
Results of 17th issue of Bonds
On 28th of December, 2016 placement of nominal coupon bonds issued by "National Mortgage Company" Refinancing Credit Organization CJSC (RCO CJSC) took place at NASDAQ OMX Armenia.
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Updated 13.05.2019 17:51