PBC DEPUTY GOVERNOR: CANCEL HOME MORTGAGE REFINANCE LOANS
AsiaInfo Services, December, 2007
AsiaInfo Services 12-19-2007 PBC Deputy Governor: Cancel Home Mortgage Refinance Loans BEIJING, Dec 19, 2007 (SinoCast via COMTEX) -- China must cancel home mortgage refinance loans and home additional mortgage loans with a firm hand, said Mr. Liu Shiyu, deputy governor of the People's Bank of China, the nation's central bank. Currently, there exist many problems in the nation's housing market.
For instance, the home loans are overheating. And there are some institutions providing home mortgage refinance loans and home additional mortgage loans services, but without licenses. Meanwhile, the fierce competition in the sector brews a huge risk. The management of home loans is relatively weak and fake mortgages are emerging, the deputy governor pointed out. Under...
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