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India Mortgage Guarantee Corporation (IMGC) is India’s first Mortgage Guarantee Company (MGC). We empower housing finance ecosystem by enabling lenders to enhance their credit offering.
Flow or 'Loan by Loan' guarantee is the guarantee given at the time of fresh loan origination to a home buyer. Loan by loan guarantee is especially useful when the lender wants to issue incremental loan amount...
Bulk or 'On-Book' guarantee is the guarantee given to a group of loans that have already been originated. It is used when the lender wants to shield its existing book (full or part) against future credit losses. Bulk or 'On-Book'...
The Supreme Court on Tuesday told lenders that they cannot charge interest on interest on the loan amount for all borrowers that was granted moratorium between March and August 2020 and said lenders have to refund the amount or the amount should be adjusted with the borrowers. “The Supreme Court judgement is welcome. The court has limited their scope to judicial review and not opined on the merits of policy,” said Mahesh Misra, CEO, India Mortgage Guarantee Corporation. “Any other outcome would have created a potential moral hazard and also penalized conscientious borrowers. This creates the right precedent as well,” Misra said.
The Centre may have to allocate an additional ₹7,000 crore as relief to borrowers following the Supreme Court verdict on loan moratorium on Tuesday, according to analysts. Mahesh Misra, CEO, IMGC welcomed the Supreme Court judgement and said, “The court has limited its scope to judicial review and not opined on the merits of the policy. Any other outcome would have created a potential moral hazard and also penalized conscientious borrowers. This creates the right precedent as well.”
The loan restructuring window has just ended, and it will take another 45 days for more clarity on defaults in the housing finance sector, said Mahesh Misra, CEO, India Mortgage Guarantee Corporation (IMGC). IMGC is the country’s first mortgage guarantee company, and provides mortgage default guarantee to lenders. It has guaranteed over 57,000 homebuyers, crossed the ₹8,500-crore portfolio and onboarded 15 lender partners.
The India Risk Management Awards, organized jointly by ICICI Lombard General Insurance Co and CNBC-TV18, held an insightful master class on new-age risks and their management, with industry veterans and thought leaders coming together under one roof to decode how businesses can de-risk themselves in an age characterized by technological disruption.
In an interview with ETHRWorld, Harpreet Sandhu, CHRO, India Mortgage Guarantee Corporation, said, “Your ability to understand the business and speak the language of your business is what helps any HR professional to move from being a tactical contributor to a business leader who leads the HR function.”