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HDFC ties up with IMGC for Home Loan

Published on May 17, 2019
HDFC collaborated with IMGC (India Mortgage Guarantee Corporation) for a mortgage guarantee-backed home loan.
HDFC ties up with IMGC for Home Loan

What is a Mortgage Guarantee?

  • Mortgage guarantee is a financial product which compensates lending institutions for the losses that may occur when a home owner defaults on a mortgage loan.
  • In a 'Mortgage Guarantee', the risk of the home loan gets transmuted from the bank/FIs (financial institution) to the mortgage guarantee company.

Sigficance of this Collaboration:

  • This collaboration will help HDFC provide more loan to a home loan customer on an improved eligibility.
  • The main objective of the collaboration is to address middle age-salaried customers, self employed customers and young salaried customers.

Question:

Q. Who has collaborated with IMGC (India Mortgage Guarantee Corporation) for a mortgage guarantee-backed home loan?
a. SBI
b. LIC Housing Finance
c. Ujjivan Finance
d. HDFC
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