Delinquencies have doubled amid Covid-19, says IMGC CEO Mahesh Misra

Higher loan-to-value transactions also have higher moratorium percentages. And people with poor credit scores have opted for moratorium compared to those who had no credit scores, he said

India Mortgage Guarantee Company’s (IMGC’s) portfolio has crossed the Rs 8,000-crore mark. The country’s only player in this space has on-boarded 15 banks and housing finance companies (HFCs), and guaranteed over 50,000 home loans, largely in the affordable housing segment. IMGC’s chief executive officer, Mahesh Misra, spoke to Raghu Mohan on post-Covid developments and the role of mortgage insurance in the days ahead. Edited excerpts:

On delinquency levels, post-Covid

It may not be appropriate for me to give the exact delinquency levels, but what I can say is that it has nearly doubled. Our economic slowdown had started 6-9 months