scholarly journals Requirements for Intermediaries and Advisors in the Area of Mortgages Resulting from Mortgage Credit Directive– Implications for Poland

e-Finanse ◽  
2015 ◽  
Vol 11 (2) ◽  
pp. 18-31
Author(s):  
Krzysztof Waliszewski
Keyword(s):  
Consumer Credit ◽  
Credit Market ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Legislative Process ◽  
Mortgage Credit ◽  
Current Financial Crisis ◽  
Polish Law ◽  
Mortgage Credit Directive

Abstract The dynamic development of the mortgage market, especially in the period before the current financial crisis, revealed that within the EU there are local mortgage credit markets and that it is necessary to harmonize the rules of the system and consumer protection within the Community. The intention of the creators of the Mortgage Credit Directive was to organize the mortgage lending market for residential purposes and make it transparent, as well as increase the safety of the consumer credit market, along the lines of what took place earlier in the consumer credit market regulations (The Consumer Credit Directives no. 2008/48/EC and earlier no. 87/102/EEC). The Mortgage Credit Directive implies for lenders - credit institutions to act at every stage of the lending process with respect to the consumer’s interest and to provide them with adequate services for their needs. Due to the large role of indirect distribution channels of mortgages by banks there are certain requirements for intermediaries, brokers and credit advisors. The implementation term of the Directive, appointed for March 2016, implies action to be taken in order to implement the provisions of this Directive into Polish law. The legislative process is being conducted by the Ministry of Finance and supported by the Group on implementation of the Mortgage Credit Directive operating with the Council of Financial Market Development.

scholarly journals Pre-agreement assessment as a responsible lending tool in South Africa, the EU and Belgium: Part 2

2018 ◽  
Vol 21 ◽  
pp. 1-38
Author(s):  
Corlia Maritha Van Heerden ◽  
Reinhard N/a Steennot
Keyword(s):  
South Africa ◽  
Consumer Credit ◽  
Critical Discussion ◽  
Mortgage Credit ◽  
Responsible Lending ◽  
Agreement Assessment ◽  
Consumer Credit Directive ◽  
Mortgage Credit Directive ◽  
National Credit Act ◽  
The Eu

Responsible lending has become a very pertinent issue on the agenda of credit regulators across the globe who seek to combat the causes of consumer over-indebtedness. In this context the use of "pre-agreement assessment" as a tool to filter out those instances where, based on a consumer's creditworthiness or ability to repay, credit should not be granted to such a consumer, is a feature common to the lending regimes of various jurisdictions. This contribution consists of two parts: Part 1 provides a critical discussion of the reckless credit provisions of the National Credit Act 34 of 2005. Part 2 details the responsible lending measures contained in the EU Consumer Credit Directive and the EU Mortgage Credit Directive and provides an appraisal of the responsible lending measures introduced by Belgium, being a jurisdiction that has always been very pro-active in the context of consumer credit protection.  

scholarly journals Pre-agreement assessment as a responsible lending tool in South Africa, the EU and Belgium: Part 1

2018 ◽  
Vol 21 ◽  
pp. 1-30
Author(s):  
Corlia Maritha Van Heerden ◽  
Reinhard N/a Stteennot
Keyword(s):  
South Africa ◽  
Consumer Credit ◽  
Critical Discussion ◽  
Mortgage Credit ◽  
Responsible Lending ◽  
Agreement Assessment ◽  
Consumer Credit Directive ◽  
Mortgage Credit Directive ◽  
National Credit Act ◽  
The Eu

Responsible lending has become a very pertinent issue on the agenda of credit regulators across the globe who seek to combat the causes of consumer over-indebtedness. In this context the use of “pre-agreement assessment” as a tool to filter out those instances where, based on a consumer’s creditworthiness or ability to repay, credit should not be granted to such consumer, is a feature common to the lending regimes of various jurisdictions.This contribution  consists of two parts: Part 1 provides a critical discussion of the reckless credit provisions of the National Credit Act 34 of 2005. Part 2 details the responsible lending measures contained in the EU Consumer Credit Directive and the EU Mortgage Credit Directive and provides an appraisal of the responsible lending measures introduced by Belgium, being a jurisdiction that has always been very pro-active in the context of consumer credit protection.  

scholarly journals Mortgage Loan: Assessment of the Current Situation and Impact on the Solution of Housing Problems

2020 ◽  
pp. 78-85
Author(s):  
Nelia Volkova ◽  
Kateryna Khamula
Keyword(s):  
Real Estate ◽  
Financial Market ◽  
Effective Means ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Legal Provisions ◽  
Current State ◽  
Mortgage Credit ◽  
Practical Recommendations

The development of the mortgage market solves both the economic problems of activation and efficient use of financial resources, and social problems in attracting social groups to meet their needs through the mechanism of the financial market. This determines the pattern of development of ways to ensure and develop these processes in Ukraine, their theoretical justification, taking into account the peculiarities of the national economy and current global trends in the development of housing mortgage lending. The purpose of the work is to develop theoretical principles, guidelines and practical recommendations for improving the mortgage lending system in Ukraine. To achieve this goal, the following tasks were set: to summarize the theoretical provisions on the essence of mortgage lending; to analyze the current state of mortgage lending in Ukraine; identify conceptual approaches to enhancing the importance of mortgage credit in solving housing problems. The object of study is the process of assessing mortgage lending. The subject of the research is theoretical-methodical and practical aspects of mortgage lending in Ukraine and its impact on solving housing problems of the population. The paper summarizes the theoretical provisions on the essence of mortgage lending as an effective means of transforming capital tied to real estate; thanks to the analysis of the current state of mortgage lending in Ukraine it is proved that it is one of the most mobile segments of the financial market and today real estate lending has intensified and started to grow, but significant mortgage lending as before the crisis, unfortunately, has not yet been achieved; conceptual approaches to strengthening the importance of mortgage credit in solving housing problems, which are to improve the mortgage lending system in Ukraine. The information base of the study consisted of official materials of the National Bank of Ukraine, performance indicators of JSC "State Savings Bank of Ukraine", JSC CB "Globus", PJSC JSCB "Arcade", JSB "Ukrgasbank", materials of scientific conferences, Internet sources. The scientific novelty of this work is to substantiate the theoretical, legal provisions and provide practical recommendations for improving the mortgage lending system in Ukraine.

Consumer Protection in Mortgage Lending

2016 ◽  
Vol 3 (4) ◽  
pp. 385-454
Author(s):  
Natalie Staff
Keyword(s):  
Consumer Protection ◽  
Information Disclosure ◽  
Mortgage Lending ◽  
Member States ◽  
Residential Mortgage ◽  
The United Kingdom ◽  
Mortgage Credit ◽  
Responsible Lending ◽  
Mortgage Credit Directive ◽  
High Level

For different reasons, such as the financial crisis of 2007, the eu has adopted a directive with the purpose of harmonising consumer mortgage lending law whilst ensuring a high level of consumer protection. This article assesses the impacts of the Mortgage Credit Directive in Sweden and the United Kingdom. The focus is residential mortgage lending from a consumer protection perspective on the basis of the main areas of the directive; communications, advice, information, disclosure, responsible lending and repayment. The practical processes of mortgage lending and the ways these fields are regulated are significantly different in the two Member States; however, many similarities on a principle level can be found. The study is an example of how harmonisation is made within the eu and how two Member States with almost opposite starting points are able to harmonise law and still preserve the characteristics of their own solution.

scholarly journals WOMEN AND CREDIT IN PERU DURING THE GUANO ERA. WAS THERE GENDER DISCRIMINATION IN THE MORTGAGE CREDIT MARKET OF PERU?

2014 ◽  
Vol 32 (1) ◽  
pp. 151-185 ◽  
Author(s):  
Luis Felipe Zegarra
Keyword(s):  
Interest Rates ◽  
Gender Discrimination ◽  
Credit Market ◽  
Fixed Costs ◽  
Women And Gender ◽  
Mortgage Credit ◽  
Participation Of Women ◽  
The Difference ◽  
And Gender

ABSTRACTThis article analyses the role of women and gender discrimination in the mortgage credit market in Peru between 1860 and 1875. Relying on a large sample of notarised loans, the article shows that women participated in the credit market as lenders and borrowers. However, their participation was lower than that of men. In addition, women received smaller loans and paid higher interest rates than men. The evidence suggests that the lower participation of women as borrowers and their smaller loans were largely a consequence of the distribution of collateral. In addition, much of the difference in interest rates resulted from the differences in loan sizes. As women received smaller loans and there were probably fixed costs involved in granting a loan, making a loan to a woman implied a higher average cost.

Organisational aspects of spatial information infrastructure in Poland

2013 ◽  
Vol 62 (1) ◽  
pp. 85-95 ◽  
Author(s):  
Elzbieta Bielecka ◽  
Agnieszka Zwirowicz-Rutkowska
Keyword(s):  
Spatial Information ◽  
Information Infrastructure ◽  
Class Diagram ◽  
Use Case ◽  
Legal Regulations ◽  
Organisational Structure ◽  
Technical Aspects ◽  
Polish Law

Abstract One of the more important elements of spatial information infrastructure is the organisational structure defining the obligations and dependencies between stakeholders that are responsible for the infrastructure. Many SDI practitioners and theoreticians emphasise that its influence on the success or failure of activities undertaken is significantly greater than that of technical aspects. Being aware of the role of the organisational structure in the creating, operating and maintenance of spatial information infrastructure (SII), Polish legislators placed appropriate regulations in the Spatial Information Infrastructure Act, being the transposition of the INSPIRE Directive into Polish Law. The principal spatial information infrastructure stakeholders are discussed in the article and also the scope of cooperation between them. The tasks and relationships between stakeholders are illustrated in UML, in both the use case and the class diagram. Mentioned also are the main problems and obstructions resulting from imprecise legal regulations.

Debt Stress and Debt Illusion: The Role of Consumer Credit, Reverse and Standard Mortgages

2020 ◽  
Author(s):  
Donald R. Haurin ◽  
Stephanie Moulton ◽  
Cäzilia Loibl ◽  
Julia Brown
Keyword(s):  
Consumer Credit ◽  
Debt Stress
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