Housing loans (minority)

Chapter I. General Provisions

I first state in order to speed up the urban housing construction, improve the majority of residents in low-income family housing conditions, I norms, housing provident fund management centre and housing provident fund entrusted with the bank's individual housing loan business, according to "Housing Fund Management Ordinance", "policy Housing credit business management Interim Provisions "and" People's Republic of China Guarantee Law ", People's Bank of China," General Clauses loans "and" individual housing loan management methods "and other relevant laws, rules and regulations, the enactment of this approach.
Article 2 of this alleged housing provident fund to individual housing loans refers to the housing accumulation fund for the sources of funds, housing provident fund to deposit the employees of the orientation for the purchase, construction, renovation, overhaul of housing owner-occupied housing consumer loans.
Article 3 of housing accumulation fund individual housing loans from the housing accumulation fund management center commissioned by the issuing banks, credit risks from housing accumulation fund management centre commitment.
Article 4 of the housing provident fund management center commissioned the designated banks for housing accumulation fund individual housing loan business, shall, in accordance with national housing reform and housing provident fund management policies and regulations with the commission entrusted with the bank signed the contract, the two sides clearly the rights and obligations of breach of contract and the corresponding responsibilities.
Article 5 of housing accumulation fund for housing loans of borrowers will be required to meet loan conditions, the borrower should provide security. Borrowers due repayment of the loan principal and interest, provident fund management centre right in accordance with the law or their quality of collateral, or by the sponsor commitment jointly and severally liable to repay the principal and interest.
Article 6 of these measures apply to the housing accumulation fund management center and entrusted with the banks and their branches.

Chapter II loans and conditions

Article 7 of the housing accumulation fund loans is a completely civilian capacity of housing provident fund deposit of individual workers and staff members (natural).
Article 8 of housing accumulation fund for housing loans of individual workers and staff members, must meet the following requirements:
First, a town resident accounts.
Second, a stable job and income, good credit, arranging the ability to repay the loan principal and interest;
Third, the housing provident fund deposit of proof. Including the establishment of housing accumulation fund, whether in full and on time deposit housing accumulation fund, such as whether the non-payment of housing accumulation fund;
4, the purchase of housing and the repair of the contract or agreement, construction, renovation, overhaul of owner-occupied housing by the planning administrative departments, real estate administrative departments issued by the document;
5, the housing provident fund management center recognized the mortgage or pledge assets, or have sufficient capacity and are eligible to compensation guaranteed by the units as a guarantor;
6, the housing accumulation fund for housing loans of individual workers and staff members must have no less than the purchase price for all housing as 30 percent of the purchase down payments;
7, provident fund management center under other conditions.

Chapter III loan procedures

Article 9 of the borrower to apply for housing accumulation fund individual housing loans to the housing accumulation fund management center to the loan application, filled out a "personal housing accumulation fund for housing loans approved form" and submit the following information:
First, identity documents (identity card accounts);
Second, the ability of borrowers to repay that material;
Third, the legal purchase (the construction, overhaul) the contracts, agreements or documents;
4, mortgage or pledge of the Rights of the list, ownership documents, powers agree that the mortgage or pledge, the state has authorized the assessment of the quality of the assessment agencies to provide collateral assessment report;
5, provident fund management center recognized the guarantor agreed to provide a written security guarantee of the credit documents and evidence;
6, provident fund management centres in other requests for documents or information.
Article 10 of provident fund management center of the borrower to submit all documents, data authenticity, legitimacy and feasibility assessments, reviews, and the 15th to make the loan applicant's answer. After passing the examination notice entrusted with the bank processing.
Article 11 of provident fund management center agreed to the borrower's loan application, the two sides signed loan contracts and guarantee contracts. Shall, in accordance with national and local laws and regulations for mortgage registration procedures.

Chapter IV loan amount, duration and interest rates

Article 12 of the housing provident fund individual housing loans may not exceed the amount purchased (the construction, overhaul) of all housing price does not exceed 70 per cent of the housing provident fund management committee determine the maximum amount.
Article 13 of the borrowers should be based on provident fund management center provides the maximum loan period or the actual situation rationally determine the loan period.
Article 14 of the housing provident fund interest rates on housing loans in the rate of implementation of provisions of People's Bank of China.
Article 15 of housing accumulation fund for housing loans within a year (including) the implementation of the contract interest rates, loan period in more than one year, the case of statutory interest rate adjustments, in the next year (January 1) at the beginning of the corresponding Statutory interest rate adjustments and implementation of quality-adjusted interest rates.

Chapter V loan guarantees way

Article 16 of the housing provident fund implementation of individual housing mortgage loans, pledge loans, guaranteed loans and mortgages (pledge) plus four methods guaranteed loans. According to the borrower can establish a specific situation.
Article 17 of provident fund management center under the borrower's specific circumstances, the use of one or a combination of several loans loans.
Article 18 of this approach referred to as the mortgage is provident fund management center of the borrower as a legitimate real estate loan collateral loans.
First, the borrower loans to real estate as collateral, to the full value of property used in the mortgage loans;
Second, housing must be secured by a corresponding quality of the real estate assessment agencies to assess the cost burden from the borrower, the loan amount shall not exceed the value of collateral assessment of 70 percent.
Third, provident fund management centre and mortgage contracts were signed after the mortgage, the borrower subject to the provisions of the real estate registration office for the security of the registration procedures, registration fees from borrowers burden;
4, mortgages settings, all to prove ownership of the collateral documents (original), should pay provident fund management centre custody;
Fifth, the creation of mortgage borrowers in the real estate collateral during the period must be properly safeguarded, for repair and maintenance to ensure that the responsibility intact, and ready to accept the right to mortgage the supervision and inspection;
6, the set of collateral, the outstanding principal and interest of loans, mortgages without a written consent, mortgages must not be collateral transfer, lease, sell, bequeath or duplication of security;
7, collateral mortgage registered since the period between the date of completion of all secured claims settlement date.
Article 19 of this approach referred to as the pledge refers only to loans issued by state or provident fund management center authorized by the borrower according to the law all the Treasury bills (physical certificates, document-based), financial bonds, corporate bonds and other securities as a pledge of loans Loans.
First, the borrower to comply with the conditions of the portfolio for the pledge, shall not exceed the maximum amount of loans pledged rights certificate face value of 80%;
Second, a portfolio of who should pay provident fund management centre, pledge contract rights certificate with effect from the date of delivery. During the pledge, provident fund management center for the safekeeping of the pledge of responsibility, because Baoguanbushan a pledge of damaged or lost, by the provident fund management centres undertake corresponding responsibilities;
Third, pledge period, the quality of the people shall not pledge to report the loss for any reason;
Fourth, pledge rights certificate before maturity date of repayment can be dealt with the following:
1, due honour, ahead of a one-time proceeds from the liquidation of loan principal and interest;
2, newly purchased tickets can be used to continue to pledge, but the need for a separate pledge procedures.
5, pledge security for the delivery of rights certificate from the date of the borrowers repaid all principal and interest on the loans only.
Article 20 of this approach referred to as the guaranteed loans refer only to the provident fund management center authorized by a third party to provide legal irrevocable guarantee for the loan jointly and severally liable.
First, the guarantor for the borrower to provide loan guarantees for the irrevocable guarantee jointly and severally liable;
Second, as a guarantor of corporate entities, must also meet the following requirements:
1, approved by the Administration for Industry and Commerce for registration and inspection procedures;
2, independent accounting, self-financing;
3, a sound management and financial management system;
4, or the equivalent of commercial banks to corporate credit ratings above AA grade corporate credit and commercial banks authorized According to the grading certificates;
5, no significant debt claims disputes.
Third, good credit can be non-public institutions-based corporate loan guarantee their employees;
Fourth, ensure that period, such as the guarantor of change, repeal or bankruptcy and corporate change, the borrower should be notified in writing 30 days ahead of provident fund management center, under a contract of guarantee all the rights, obligations by the commitment to change the institutions or by the guarantor Decided to revoke the agencies. Such as provident fund management center that change does not possess the full capacity of the guarantee, or change the decision to remove the body to accept the obligation to implement the new sponsor.
Article 21 of this approach referred to as the mortgage or pledge and guarantee loans that provident fund management center has provided mortgage loans or pledge on the basis of requests for the required conditions as the guarantor of the loan guarantees issued to borrowers in the form of loans.

Chapter VI of the extraction and use of loans

Article 22 of the housing provident fund individual housing loans may not be paid in cash. Should be entrusted with the banks in accordance with the loan contract agreement for use of the plans and purposes, is zoned as follows:
First, direct, is zoned. In accordance with the loan contract, funds will be directly assigned to the borrower in the bank to open a deposit account;
Second, the special designated by. In accordance with the loan contract, funds will be directly assigned to Shoufang person or unit in the bank to open deposit accounts.

Chapter VII of the loan repayment

Article 23 of the borrowers should be borrowing contractual payment plan, repayment of outstanding loans means the principal and interest.
Article 24 of the period of borrowing in a year (including 2001), the implementation of principal repayments due, with the benefit of the outstanding balance of the way the period of borrowing in more than one year, the implementation of quarterly interest payments and principal repayments due to Ahead of the return, may also have matching the repayment of principal and interest and principal repayments of matching (with the benefit of the Qing) repayment of two ways:
1, matching the repayment of principal and interest: the loan period equal to the monthly average amount of outstanding loans principal and interest, the monthly payment is calculated as follows:
Monthly principal and interest outstanding loans = interest rate on the loan principal × × (1 + on interest rates) on repayment (1 + on interest rates) on repayment of -1 event of early repayment and the interest rate adjustment, should be based on the outstanding balance of loans And the remaining repayment formula to adjust the number and amount of each phase of calculation.
Second, matching the repayment of principal (with the benefit of the Qing): that is, matching the monthly loan repayment of principal and interest on loans with principal monthly decline. The monthly amount is calculated as follows:
= Monthly amount of loan principal on loans of a few + (principal - has a total return of the principal amount) × on interest rates
Borrowers can select repayment methods. However, a loan contract can only choose a repayment, after the signing of the contract, can not be changed.
Article 25 of the borrowers were not stipulated in the contract period and the amount of outstanding loans principal and interest, provident fund management center or the banks should be entrusted with the provisions of the People's Bank of overdue loans Faxi interest rates.
Article 26 of the borrowers to return all of the contract by the principal and interest of loans, provident fund management centre should be secured ownership of the documents or pledge the right credentials, and other relevant information on the return of the right people.

Chapter VIII of default and disposal

Article 27 of provident fund management center or trustee bank loan contracts were not promptly and fully to the borrower a loan default and the amount of default should be the number of days in accordance with the borrower to pay liquidated damages.
Article 28 The following are the borrowers default:
First, loan contract expires, the borrower has not agreed in the contract payment plan the return of all principal and interest of loans, or loan contract performance during the borrower not more than two consecutive sub-contract agreement on the return of loan principal and interest payment plan;
Second, without a provident fund management center agreed to set up a mortgage, pledge of property or rights of the demolition, sale, transfer, gift or duplicate mortgage, pledge;
Third, loan purposes, to provide the documents, information is untrue, has been or is likely to result into loss of error or loans;
Fourth, the borrower and other legal or economic organizations signed prejudicial to the interests of provident fund management centre contract or agreement;
5, the guarantor breach of warranty contracts or loss of ability are jointly and severally liable, the collateral damage due to accidents insufficient to satisfy the principal and interest of loans, pledge of significantly reduce the impact of provident fund management centre of achieving the right, but not require the borrower or guarantee the implementation of the new arrival (of) The grantor.
Article 29 of the borrowers default, breach of contract under the provident fund management center in nature, extent, the amount of use of one or more of the following manner.
1, the deadline to correct violations;
Second, the suspension of loans or early recovery of the entire payment of principal and interest of loans;
Third, punishable by Faxi;
Fourth, from the borrower or guarantor in the accounts of charge, repay the loan principal and interest;
5, collateral punishment from the price, or to honour the pledge of the proceeds from the liquidation of loan principal and interest;
6, the guarantor of recourse jointly and severally liable;
7, to take legal means to recover the principal and interest of loans.

Chapter IX laws

Article 30 of this approach by the Chuxiong Yi Autonomous Prefecture of housing provident fund management center is responsible for the interpretation.
Since the enactment of Article 31 of these measures will take effect in 1998, issued the "Chuxiong Yi Autonomous Prefecture of housing provident fund loans Interim Procedures" (State Housing Reform Office [1998] 10) abolished at the same time.