Product definition:
Trading to turn mortgage business refers to the seller of real estate the pledged to the Bank of the transfer of property to the buyer, according to the application of the seller or the buyer, by unison through guarantees, loans to the applicant for house property to pay off the original mortgage loans, to redeem the real estate certificate and handle the business of property transfer, mortgage, and other procedures.
Product type:
1) foreclosure floor loans for the seller to provide guarantee turn by business (hereinafter referred to as "the Seller guarantees" or "two paragraph" business), namely, real estate sell buyer mortgage banks apply for a sum of short-term (general loan period is three to six months) foreclosure floor loans, by unison through the provision of guarantees, source of repayment for the buyer to apply for mortgage loans or in the purchase, the bank supervision.
2) for the buyer's mortgage loans to provide security to the business (referred to as the buyer guarantee, or "a money" business), that is, by the financial industry for the purchase of mortgage loans to purchase mortgage loans, the bank issued a letter of guarantee issued by the bank loan to finance the loan, the loan from the seller to pay off the original loan bank loans, and then apply for cancellation / transfer / mortgage procedures.
3) the same bank shall be the same bank, which is the same as the Bank of the seller's loan. The bank receives the mortgage, transfer to the buyer's name and mortgage to the bank through the loan guarantee.
Guarantee amount:
Different business types to determine the amount of collateral:
1) guarantee business for the seller. Guarantee amount is equivalent to the amount of the loan to the direction of the sale of the bank to apply for the amount of the mortgage loan, the amount of the loan amount of the general mortgage loans to the seller's original loan balance
2) guarantee business for the buyer. Guarantee amount is generally equal to the purchase of mortgage loans for banks to apply for the purchase of mortgage loans, the bank will be the buyer of the mortgage loans issued to the full.
3) by the credit guarantee business. Guarantee amount and other seller's original loan balance.
Business acceptance:
When the customer is applying for a mortgage guarantee business, the customer shall provide the following information:
1 identification documents: buyers and sellers valid identity certificate copy;
2. Real estate transaction data: the sale of the two sides signed the contract or agreement copy; the buyer paid (or controls) of the first phase of the purchase proof copy.
3 the seller's original loan information: a copy of the original loan, the mortgage contract; a copy of the original loan repayment record, the bill of credit;
4 real estate information: the property of the "real estate certificate" copy;
5 the buyer's credit information: a copy of the letter of approval of the buyer's bank mortgage loan commitment or loan approval;
Other information required by the 6 financial.