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Effective from Oct 23 2022 - Oct 22 2022 To view other versions open the versions tab on the right
1.
The terms and phrases used in these Rules shall have the same meanings as those defined in the Real Estate Finance Law and its Implementing Regulations.
2.
The following terms and phrases, wherever mentioned in this document, shall have the meanings assigned to them unless the context otherwise requires:
Rules: The Rules Governing Real Estate Refinance Companies.
Real Estate Refinance Company (the Company): A joint stock company licensed to engage in real estate refinance activities.
Real Estate Financier: Commercial banks and finance companies licensed to engage in real estate finance activities.
Real Estate Finance: Extending credit to a borrower to own a dwelling.
Real Estate Finance Contract: A deferred payment contract extended to a borrower to own a dwelling.
Real Estate Finance Contractual Rights Cash flows, mortgages, collaterals and other rights arising under a real estate finance contracts.
Borrower: A natural person who obtains a real estate finance.
Primary Market: Real estate contracts concluded between borrower and real estate financiers.
Secondary Market: Trading of the right of real estate finance entities resulting from primary market contracts.
Real Estate Refinance Activity: The refinancing of real estate financiers and entities engaging in real estate finance activities to provide liquidity and facilitate the trading of real estate contractual rights in capital markets.
