Azerbaijan launches e-mortgage
Azerbaijan, Baku, Aug. 8 / Trend I.Khalilova /
In the second half of September, Azerbaijan Mortgage Fund (AMF) under the Central Bank (CBA) plans to launch the E-mortgage project, which includes minimizing the human factor in mortgage lending, the country's banking circles told Trend on Tuesday.
"In this regard, the Fund is preparing to launch a portal, to which authorized organizations of AMF will connect, primarily, banks, but the possibility of connection of the insurance and appraisal organizations is not ruled out," the source said.
At present, the authorized banks of the Mortgage Fund are 27 banks. Participants in the mortgage market are also 20 insurance companies and 13 appraisal organizations.
In the near future the Mortgage Fund will hold for bank representatives - authorized training organizations training to work in online mode in the mortgage.
"A one-time fee of 1,000 manat has been set to register on the e-mortgage portal," market participants said. "Banks that have access to the portal, will process the application and place them on it."