Realtor Companies Ready to Become Agents of Azerbaijani Mortgage Fund

Business Materials 3 October 2006 19:18 (UTC +04:00)

By the decision of the Board of the National Bank of Azerbaijan (NBA), a list of banks-agents in the system of mortgage crediting has been extended. The Azerbaijan credit bank has become the 17th bank-agent of the Fund, Trend reports referring to a message spread by AMF (Azerbaijan Mortgage Fund).

The message tells that AMF has received appeals from the realtor companies (purchase-sale of immovable property) concerning their wish to work as mortgage agents. According to the international practice and the AMF standard terms legal and physical persons are engaged in the intermediary activity between the authorized credit organizations and the borrower during the initial appraisal within mortgage credits, as well as the implementation of the procedure of underwriting. Res ipsa loquitur, this institute will also render services in preparation of all necessary documentation and appraisal during receiving mortgage credits, choosing immovable property, etc. as well as rendering assistance to the citizens and authoritative banks.