notice on adjustments to operational procedures for ratifying the number of suites as criteria for eligible hpf loan applicants regarding marriage-oriented home purchase
shgjj no. 96 (2015)
to shanghai municipal residential estate mortgage guaranty co., ltd. (seg) and all banks entrusted with housing provident fund services:
as per the year 2015 requirements of the municipal provident fund center for streamlining administrative procedures by means of empowerment to enhance services, we have made adjustments to operational procedures for ratifying the number of suties as criteria for eligible housing provident fund loan applicants regarding marriage-oriented home purchase, to further increase working efficiency and facilitate procedures for loan application, and hereby notify you of the following relevant issues:
1. cancel the reconsideration process for ratifying the number of suites of an eligible housing provident fund loan applicant in respect of marriage-oriented home purchase by incorporating it in the general lending criteria.
2. the criteria for ratifying the number of suites under the name(s) of a housing provident fund applicant’s family shall remain unchanged, namely, the only one suite owned by either the loan applicant or the spouse and the respective parents prior to their marriage (i.e., in either of the cases that either the borrower or the spouse owns one suite jointly with the corresponding parents prior to their marriage, or both the borrower and the spouse own one suite jointly with the respective parents prior to their marriage) shall not be counted as the property under the name(s) of the loan applicant’s family.
3. prior to ratifying the numbe of suites, a loan handling agency should obtain valid registered information about the property under the name(s) of the housing provident fund loan applicant’s family from the property status information center of this municipality. the registration time for the property should be earlier than the borrower’s marriage registration time.
4. a loan handling agency, as per authentication criteria and review requirements, should collect relevant property registration and marriage registration documents as criteria for ratifying the number of suites, and check relevant information, and keep the duplicates of relevant documents as loan archives.
5. all entrusted agencies are requested to strictly adhere to the notice in the loan handling and review process. any combined home loan should be aborted unless the criteria for ratifying the number of suites are met.
please proceed accordingly.
shanghai provident fund management center
21 july 2015
