Page 5 - Housing Finance

HDFC-HDFC Bank merger: The story behind success of housing finance behemoth

In a press conference on June 27, HDFC's chairman Deepak Parekh said that the board of these two companies will meet on June 30 to finalise the merger and it will be effective on July 1

NHB asks housing finance cos to adopt early warning signals framework

Regulator for housing finance firms NHB has asked housing finance companies with asset size of over Rs 1,000 crore to adopt an early warning signals (EWS) framework to check financial frauds and also to prevent accounts from turning into non-performing assets. National Housing Bank (NHB), in a recent circular, said analysis of the frauds reported by the housing finance companies (HFCs) has revealed that the reasons behind accounts being identified as fraud accounts are seller impersonation, submission of fake income/ employment documents, submission of fake title deeds, a collusion of the builder and borrower. It has also been observed that such deficiencies are identified only when the borrower stops paying the EMIs after the disbursement of the loans, NHB said. "It has been therefore decided that an Early Warning Signals (EWS) Framework should be adopted by the HFCs so that an alert is triggered before the account turns into non-performing asset (NPA) or declared as a fraud ...

Housing finance company Aviom raises $30 million in a funding round

Housing finance company Aviom has raised USD 30 million (over Rs 246 crore) in a funding round through a mix of primary and secondary investments by Nuveen, a global investment manager. The company is focused on affordable housing sector and the funding will help in expanding its loan book and widen its operations to newer geographies, said its chief executive officer Kajal llmi. With the series D funding, the company plans to extend financial assistance to around 60,000 families additionally in the new fiscal by disbursing around Rs 1,200 crore, she added. The company currently has a customer base of around 50,000. Stephen Lee, senior director & head of Asia at Nuveen's private equity impact investing team, said, Aviom has disrupted micro-mortgage lending landscape by catering to a hitherto underserved segment. This new equity investment will propel Aviom to grow 6-fold by 2026, Lee said. Over the next six months, Aviom looks to increase its monthly disbursement to Rs 150 crore

Sundaram Home Finance to double number of branches giving small biz loans

In October last year, the company made a foray into the small business loans segment

Press Release: ART Housing Finance Wins Three Prestigious Awards

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After two challenging years, good prospects for housing finance NBFCs

In the near-term though, maintaining NIMs in a rising interest rate environment will be a delicate balance given its potential impact on volumes

LIC Housing Finance raises lending rates by 35 bps, cites market conditions

'Good sustenance in home buying', says mortgage lender in statement

PNB Housing Fin opens 'Roshni' branches for affordable housing loans

PNB Housing Finance on Friday said it has opened 'Roshni' branches in various locations, including tier II and III cities, for deepening its customer base in the affordable housing segment. Through its affordable home loan scheme Roshni, the city-based lender has also renewed its commitment towards the government's Housing for All mission, it added. Under this initiative, PNB Housing Finance will offer retail loans to individuals in the range of Rs 5 lakh to Rs 30 lakh. The company's Roshni branches inaugurated in Chennai, Coimbatore, Ghaziabad, Hyderabad, Indore/Ujjain, Lucknow, Mumbai, Nagpur, Pune, Rajkot and Varanasi will cater to customers in this segment. Borrowers can get loans for purchase of house property, self-construction, home extension/renovation, plot purchase plus construction, loan against property, among others, PNB Housing Finance said in a release. Whether loan applicants are new to credit, self-employed without formal income or salaried from a low-income group

Poonawalla Fincorp to sell housing finance unit to TPG for Rs 3,900 cr

PFL to explore inorganic investments for business growth

RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise

Four of the 10 cities in the index recorded sequential contraction, the others posted expansion

Indiabulls Housing embarks on growth path after three quarters of stability

IHFL's balance sheet and AUM have stabilised and the base has been formed for 10% YoY growth in loans this financial year

Hemmed in by interest rate hikes, HFCs see 19% dip in Q2 net profit

The uptick in operating income reflects robustness in the home loan portfolio and hike in lending rates

Indiabulls Finance Q2 consolidated net up marginally to Rs 289.4 cr

Impairments on financial instruments double YoY; income from operations almost flat at Rs 2,229.7 cr

Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

LIC Housing Finance stock comes under pressure on weak Q2 results

Improvement in interest income and margins crucial for investor sentiment to revive

Tatas to raise Rs 4,000 cr from NHB, bonds market in mega home loan push

Loans to be offered to both retail and developers; funds being raised amid 13% expansion in loan portfolio over six months to September

PNB Housing Finance's Q2 net profit rises 12% on improving margins

Its net interest income (NII) expanded by 29 per cent YoY to Rs 649 crore in the reporting quarter.

Navigating the affordable housing finance market

The demand for affordable housing finance is very high, but housing finance companies have not disbursed loans up to their potential, owing to a lack of awareness among customers about such firms

IndoStar Capital considers selling stake in housing finance unit

Private equity-backed company losses have raised concerns about its stability

TCS bags deal from Aadhar Housing Finance to improve business operations

The partnership with TCS is for an end-to-end business process transformation using the integrated and collaborative blockchain-based cloud platform.