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On November 4, 2009 Taamir Mortgage Company obtained EMRC's approval to extend their refinance line by an additional L.E. 100 Million to bring their total to L.E. 150 Million under the same Master Refinance Agreement signed in March 30, 2008.
On June 22, 2009 Egyptian Mortgage Refinance Company had signed a second Master
Refinance Agreement with Tamweel Mortgage Company to extend their refinance line
by an additional L.E. 50 Million bringing their total to L.E. 100 Million. Tamweel
continue to focus on growing their low income mortgage portfolio being their target
market.
Tamweel Mortgage Finance of Egypt signed a Master Refinance Agreement with EMRC for the amount
of EGP50 Million. According to the terms of the agreement, EMRC will provide funding
in the form of a long-term fixed rate loan, collateralized by a portfolio of residential
mortgage loans currently financed by Tamweel . Tamweel goal is to expand among Egypt
and ensure mortgage finance options are available to all client segments. EMRC is
committed in its efforts to continue providing funds necessary for mortgage finance
companies like Tamweel to carry on offering mortgage loans to Egyptian.
Egyptian Housing Finance Company signed a Master Refinance Agreement with EMRC for the amount
of EGP 50million. EHFC is the second company to venture into this industry and has
provided insight and awareness of consumer conduct and assisted in the shaping of
the mortgage finance industry primarily through recognizing inefficiencies and working
to provide solutions to increase value and better service the customer. EHFC has
been especially active in lobbying for changes in mortgage finance law and its executive
regulations.
EMRC signed its second Master Refinance Agreement with Taamir Mortgage Company for
the amount of EGP50 Million. Taamir Mortgage Finance Company seeks to enhance accessibility
to affordable housing for the medium and modest income borrowers in Egypt. Furthermore,
Taamir has far reaching goals for expanding and improving the housing finance market
in Egypt and through the synergetic relationship with EMRC this becomes a shared
goal.
A Master Agreement was signed between Mohammed Salah Salem, of the Egyptian Arab
Land Bank (EALB) and Iman Ismail, of the Egyptian Mortgage Refinance Company (EMRC)
in the amount of EGP 200million. This is the first signing of this type in Egypt.
What it signifies is the government and private sector recognition for the growing
demand in social housing and the long-term mortgage financing necessary to meet
this demand.
2013 ||
2012 - 2010
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